New Jersey
HOUSING MARKETS FACING GREATER RISK OF DECLINE CONCENTRATED IN CALIFORNIA, NEW JERSEY, ILLINOIS AND FLORIDA
New York City and Chicago Areas More Vulnerable to Drop-offs Along with Inland California; South Still Faces Relatively Small Exposure;
IRVINE, Calif., Dec. 5, 2024 /PRNewswire/ — ATTOM, a leading curator of land, property data, and real estate analytics, today released its latest Special Housing Market Impact Risk Report spotlighting county-level housing markets around the United States that are more or less vulnerable to declines, based on home affordability, equity and other measures in the third quarter of 2024. The report shows that California, New Jersey and Illinois once again had high concentrations of the most-at-risk markets in the country, with parts of Florida also joining that mix. Less-vulnerable markets continued to be clustered in the South region of the nation.
The third-quarter patterns – derived from gaps in affordability, underwater mortgages, foreclosures and unemployment – revealed that two-thirds of the 50 counties around the U.S. considered most exposed to potential fallbacks were in California, Florida, Illinois and New Jersey. Florida was a new addition to that group in the third quarter after earlier periods when it had fewer markets making the list of areas at elevated risk of downturns.
County-level housing markets on the latest list included six in and around Chicago, IL, five in or near New York City and four in southern New Jersey. Another 13 were in California, mostly inland from the Pacific coast. The rest were scattered largely around the Northeast, South and Midwest.
At the other end of the risk spectrum, more than half the markets considered least likely to decline fell in Virginia, Wisconsin, Tennessee, Montana and New Hampshire. They included four in the Washington, DC, area.
The latest gaps come as the nation’s 13-year housing-market boom, along with the broader economy, continue to affect different parts of the country in different ways.
An almost unrelenting increase in home prices has surpassed most wage gains around the country to varying degrees. That has led to home ownership costs consuming more than triple the portion of average wages in some parts of the country compared to others. Similar disparities can be found in several other measures: unemployment rates, the level of homeowners facing foreclosure and the portion owing more on their mortgages than their homes are worth.
“The recent market risk patterns changed a bit in the third quarter, with some new areas making the list of places more or less exposed to downfalls. But the big picture remained pretty much the same around the country as differences in important metrics helped produce varying pockets of vulnerability,” said Rob Barber, CEO at ATTOM. “As with past reports, this one is not meant to suggest any given area is about to fall or is immune from problems. Rather, it spotlights locations that look to be more or less able to withstand significant changes in market conditions. We will continue to keep a close watch on markets throughout the country to see how things track.”
HOLMDEL, New Jersey (WPVI) — Family, friends, and those who knew 25-year-old Billy DiMaio will pay tribute to him during a funeral service in Holmdel, New Jersey, on Thursday.
The standout athlete, son, and brother was one of the 14 victims killed in the New Year’s Day terrorist act in New Orleans.
He was with friends on Bourbon Street when a man inspired by ISIS drove his truck into a crowd of people.
Victim killed in New Orleans attack ID’d as Philadelphia college grad
DiMaio’s funeral will be held at St. Catherine’s Church in his hometown of Holmdel at 10:30 a.m. Interment will follow at Holmdel Cemetery following the service.
Billy’s parents Bill and Tracie DiMaio are heartbroken.
“Billy had a smile that could light up a room, and his laughter was truly infectious,” the family said in a statement. “His energetic personality inspired everyone around him. He cared for others more than himself and, as the oldest brother to Samantha and Anthony held a unique and irreplaceable role in their lives as well as cousins and friends. He will be dearly missed.”
DiMaio graduated in 2022 from Philadelphia’s Chestnut Hill College where he was a midfielder on the lacrosse team, according to the athletic director.
RELATED | What we know about victims of New Orleans truck attack: ‘So beautiful and full of life’
14 people were killed when a man rammed his truck into a crowd on Bourbon Street on New Year’s Day.
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A Monmouth County college student died Tuesday after a tragic skiing accident in Hancock, Massachusetts, according to authorities.
The student, 19-year-old Alex Kemp of Lincroft, graduated from Christian Brothers Academy last year. He was a first-year student at Williams College, also in Massachusetts, where he competed on the cross-country and men’s track and field team.
According to media reports, Kemp was skiing down the Cutter Trail route at Jiminy Peak Mountain Resort when he crashed around 2:39 p.m.
“Kemp had gone over an embankment and appeared to have suffered significant head trauma,” according to reporting from The Berkshire Eagle of a statement from the Berkshire County District Attorney’s Office. “Jiminy Peak Ski Patrol were immediately dispatched to the scene,” the statement went on to say according to reporting from The Berkshire Eagle. “Northern Berkshire EMS arrived shortly thereafter to administer life-saving measures. The victim was transported to Berkshire Medical Center before being transferred to Baystate Medical Center for further care.”
No evidence suggested drugs and alcohol were involved, according to reporting from The Berkshire Eagle of a statement from the Berkshire County District Attorney’s Office. The publication also reported Kemp was wearing a helmet.
The Cutter Trail, a black diamond trail, is labeled on a Jiminy Peak trail map as being “most difficult” and for seasoned skiers.
Local law enforcement is investigating the accident, and they said Jiminy Peak Mountain Resort has cooperated.
On Wednesday, Williams College President Maude Mandel addressed the school community about Kemp’s death. In it, she expressed her sadness and also quoted Kemp’s coach, Dusty Lopez, who recruited him to run at Williams.
“Alex was fearless and incredibly motivated as a runner, both in training and competition,” Lopez’s quote in the statement read. “But even when he didn’t have his own best day, he took sincere joy and pride in seeing teammates do well. The team was always his biggest priority. Our entire team feels a huge sense of loss and grief at this tragic accident. Our thoughts and hearts are with his family, his high school teammates and coaches, and everyone else who was lucky enough to know Alex.”
Mandel added that Kemp had hoped to complete a doctorate in computer science, placed first among all first-years at the NCAA Championships, and was an active volunteer. In her statement, Mandel said Kemp had volunteered at the Jon Bon Jovi Soul Kitchen and iCan Bike.
The college, Mandel added, is planning to hold a public gathering in recognition of Kemp’s life in the “coming weeks.”
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