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Read Feb 6 & 7 reports. Even the good areas are getting hit hard. Falling prices are not localized....they are not immune. Things keep looking good for first time home buyers.
Read Feb 6 & 7 reports. Even the good areas are getting hit hard. Falling prices are not localized....they are not immune. Things keep looking good for first time home buyers.
Many of those houses are $250K elsewhere in the country excluding the NE and W. Yes Incomes are higher in NJ. Yes being near NYC raises the prices. Sorry but the Montclair house is still a 1950s/1960s ranch and is nothing special to look at.
You can afford a house 2-3.5X your gross income. More is kamikaze financing.
BTW thanks OP. nuther good bookmark.
Houses are coming down. Dont forget NJ is a net out migration state. The future? who knows. FL was a huge in migration state and is not nearly so today. You think its bad here? Go to FL. Trends change.
Many of those houses are $250K elsewhere in the country excluding the NE and W. Yes Incomes are higher in NJ. Yes being near NYC raises the prices. Sorry but the Montclair house is still a 1950s/1960s ranch and is nothing special to look at.
You can afford a house 2-3.5X your gross income. More is kamikaze financing.
BTW thanks OP. nuther good bookmark.
Houses are coming down. Dont forget NJ is a net out migration state. The future? who knows. FL was a huge in migration state and is not nearly so today. You think its bad here? Go to FL. Trends change.
I would say 3 times your gross income is as high as anyone should go, but I understand your point.
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