From CNN: Federal court scraps New Jersey’s controversial ‘county line’ ballot design Voting rights advocates scored a major victory Friday in New Jersey when a federal judge struck down the use of a controversial primary ballot design that favored party-backed candidates. The decision is potentially a grave blow to the state’s powerful political machines, which have for decades used the so-called county line to prop up their endorsed candidates. The system is currently used in 19 of the Garden State’s 21 counties. The preliminary injunction granted by US District Judge Zahid Quraish ..read more

From the Record: Senate passes bill to overhaul how NJ towns will meet affordable housing mandate How much affordable housing will New Jersey towns be required to zone for, build, convert or renovate over the next decade?  Gov. Phil Murphy is expected to sign a bill the Legislature passed Monday that aims to streamline the process that determines how municipalities fulfill a constitutional mandate to provide their “fair share” of homes that low- and moderate-income families can afford. The bill would codify a formula to help towns come up with the number of units they must allow to meet t ..read more

From CNN: The 6% commission on buying or selling a home is gone after Realtors association agrees to seismic settlement The 6% commission, a standard in home purchase transactions, is no more. In a sweeping move expected to dramatically reduce the cost of buying and selling a home, the National Association of Realtors announced Friday a settlement with groups of homesellers, agreeing to end landmark antitrust lawsuits by paying $418 million in damages and eliminating rules on commissions. The NAR, which represents more than 1 million Realtors, also agreed to put in place a set of new ..read more

From Newsweek: Housing Market Solution Could Help New Jersey New Jersey might have just found a solution to its affordable housing crisis, and it involves the undeveloped land outside of its transit system. The Regional Plan Association found 74,000 acres of land were underutilized around the commuter rail stations within New Jersey and New York. Today, the median rent in New Jersey is $2,500, $470 more than the national median, according to Zillow data. Already, land has been rezoned in Metuchen for mixed-use development, and this could continue into the larger area, accor ..read more

From News12: Gov. Murphy seek $55.9B New Jersey budget, increasing education aid, boosting biz taxes to fund transit Gov. Phil Murphy on Tuesday unveiled a $55.9 billion budget, up about 5% over his previous year’s proposal, calling for nearly $1 billion more in K-12 school funding as well as about $1 billion in new taxes on high-earning businesses to fund transit. Murphy, a two-term Democrat, cast the budget as the fulfillment of campaign pledges to identify a recurring source of funding for New Jersey Transit and to fully finance a state formula for schools that’s never before been fully imp ..read more

From ABC News: Flood-stricken New Jersey residents look into government-funded home buyout program The flooding in parts of New Jersey over the past few months left mounts of headaches for residents. Countless residents from those affected areas came out to meet with New Jersey State Department of Environmental Protection officials in Pompton Lakes Thursday night to learn about the Blue Acres Program. The program is voluntary and it relocates flood-stricken residents who are considering government-funded buyouts of their homes. It eligible, homeowners would be offered fair market value fo ..read more

From Bloomberg: Why NYC Apartment Buildings Are on Sale Now for 50% Off Even in the crisp afternoon sunlight, the two-bedroom Manhattan apartment has a ghostly pallor, its cracked walls yellowing like an ancient black-and-white photograph. Paint chips are falling from the ceiling. A dead pigeon lies on the kitchen floor. Its landlord, Douglas Peterson, is making a stop on a dispiriting tour of a 21-unit building he bought in 2018 for $4.8 million. Peterson’s City Skyline Realty Inc. specializes in a subgenre of real estateinvestment: properties subject to the New York City rent-regul ..read more

Has nothing to do with real estate, but our neighbors on this side of the world really should be our strongest trade partners. From Quartz: The US imported more from Mexico than China for the first time in decades For the first time in two decades, US imports from Mexico surpassed those from China, according to data from the US Census Bureau, signaling a shift in global trade due to tensions between the US and China.  The US’s trade deficit, which represents exports minus imports, with China fell, with imports falling 20% to $427.2 billion last year, noting that consumers a ..read more

From CNN: Boomers are not moving out of their big homes. Here’s why After 33 years and four children, Baby Boomers Marta and Octavian Dragos say they feel trapped in what was once their dream home in El Cerrito, California. Both over 70, the Dragos are empty nesters, and like many of their generation, they’re trying to figure out how to downsize from their 3,000-square-foot, five-bedroom home. “We are here in a huge house with no family nearby, trying to make a wise decision, both financially and for our well-being,” said Dragos, a retired teacher. But selling and downsizing isn’t easy, appeal ..read more

From Patch: $1 Homes For Sale In Newark; Public Lottery Will Mark Milestone Buy a house for a buck? That’s the dream that’s about to become reality for some lucky Newark families on Monday, when the city launches its first public lottery for a new homeownership program. Taking place at City Hall at 10 a.m., the lottery will mark a watershed moment for Newark’s Homeownership Revitalization Program. Under the program, local residents get the chance to buy a city-owned property for as little as $1.  “Program participants must be Newark residents, and commit to reside in the properties for a ..read more