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NJ RE is not in a good place right now because values only go up in certain areas where people buy purposely to fence out the poor out of their towns. Sort of like Yonkers.
The taxes are too high in most places, you can't have a good sustained RE market with property taxes out of control even with the 2% cap towns are using other taxes. What Christie should do is combine more towns together to save on resources and reduce taxes.
NY property values keep soaring because property taxes are steady but not for long but not as bad as NJ.
Many home owners are stuck because they can't get out of their property and they can't afford to rent them out as rents are not enough to cover taxes and expenses.
NJ residents are skating on thin ice right now, if the cost continue to go up or jump without an increase in salary then more people would move out.
I make enough to stay around NJ but things are not looking too good, it's a vicious cycle with the way the state spends and charges it's citizens.
Where is it that NJ residents are skating on thin ice? What towns in NJ are home owners "stuck because they can't get out of their property"? Have you seen the rental market in many towns in NJ?
Where is it that NJ residents are skating on thin ice? What towns in NJ are home owners "stuck because they can't get out of their property"? Have you seen the rental market in many towns in NJ?
You're talking about the crowded North NJ where traffic is horrendous, crowded, and property values are high and so are rents. The rest of NJ below have lower values and rents lower too but taxes are still high and thats where most of the foreclosure will happen where values are lower.
You're talking about the crowded North NJ where traffic is horrendous, crowded, and property values are high and so are rents. The rest of NJ below have lower values and rents lower too but taxes are still high and thats where most of the foreclosure will happen where values are lower.
so give me some town names that are specific examples and where all these foreclosures are happening. nevermind that a large portion of NJ's population is in that northern part....so why are NJ residents skating on thin ice?
so give me some town names that are specific examples and where all these foreclosures are happening. nevermind that a large portion of NJ's population is in that northern part....so why are NJ residents skating on thin ice?
A lot of folks that want to move cannot because the prices of homes have mostly decreased in the past few years.
This decrease prevented certain population from retiring. If you look at all the towns in light color there are plenty. I spoke to an older woman working in Shoprite and she can't retire because she doesn't have any savings and her home is their only nest egg left and the values have not risen enough for her.
There are lots of folks that are well off but that's only temporary most of them don't realize if another recession happens like the last one. They can be out of work for a long time and lose their ability to pay bills.
A lot of people are skating on thin ice they just don't realize it. If you can't be out of work for more than a year than you are on thin ice.
Let me start by saying i was born and raised in Essex County, NJ...so i am NOT a transplant experiencing culture shock. I am 30 years old, recently married, and have lived here all my life. My wife and I are putting all of our resources into trying to leave the state within the next 2-5 years. We hate to be far away from family and friends but we are both so burnt out by life in the north jersey metro area.
So many people here are astonishingly rude, selfish, and ignorant. It is a rarity for anyone to hold a door for you, or let you get into traffic. If you do these things for other people, only expect about a 30-50% chance at best of getting a "thank you" or a courtesy wave back. Apparently the signs that say "yield for pedestrians" in parking lots are a foreign language to most people here.
Everyone is in a rush for nothing. Im no slow poke on the roads but being tailgated is still a frequent occurrence. The nanosecond that the traffic light turns green, some a-hole a few cars back has to lean on his horn. Reckless driving and road rage is endemic. If something holds up the line at a supermarket or the drugstore, people are ready to lose their minds. That fact that everything and everywhere is so crowded does help either.
I realize that there are a-holes in every part of the country, but the rate of them here is vastly higher.
The cost of living here is absolutely outrageous. Property taxes are obscene. Highest car insurance rates in the country. For alot of people (myself included) it is an epic struggle to maintain a middle class existence here.
To be fair, not all parts of NJ are this bad. Its mainly the northeast region of the state. And don't get me wrong, there are some pro's to living here. Ill admit we do have the best schools, doctors, hospitals, etc. and it is a very culturally rich area. But the negatives far outweigh the positives. Id gladly give up my access to NJ Diners, good Italian food, real pizza, and Taylor Ham to be able to have a comfortable middle class existence in another state, among civilized people with manners and common courtesy. I realize that i might make less money in another state for the same job, but what good is having more money when you are pissing it all away just to be able to live here. And some things are more important than money, such as peace of mind and not being constantly stressed out.
Judging by the fact that NJ has the highest ratio if any state in the U.S. of people fleeing the state compared to people moving in, its apparent I'm not the only one who feels this way. The States People Are Fleeing In 2013 - Forbes
With a little luck, within a few years my wife and i will be joining the exodus of middle class people fleeing the state.
Flight from Nj are the people thatcame to NJ for the jobs which are not as prevalent as before. That NJ was the nation's medicine chest with all the world headquarter pharma companies which paid well. Cost of living was reasonable with a great job..cost of living on the rise, no cash to meet it, excessive state and federal taxes and regulations ...people move away.
NJ will recover and again offer many and lucrative jobs. We are just waiting for the Obama administration and its disasterous economic plan to go by.
Plenty of friendly people in NJ. I don't do the northeast portion of NJ and can't imagine how anyone can live there unless they were born into the area or a cityophile and 20 years old who enjoy life in the shadow of NYC.
Jam enough people in one place and you get redirected aggression. Your horn and middle finger are the best prescription to deal with life in northeast NJ. Harmless behavior that reduces the affect of an adrenal gland dripping with cortizone and other stress hormonse. Spewing unacceptable phraes with the windows up is another useful tool.
Playing sad muisc is also supposed to help you deal with stress on the highway.
This is typical ignorant east coast nonsense -- "if you have a problem, it's not other people, it's you." Well what if you are dealing with a group of a**holes all day at work? Is the problem still you since you haven't conformed to become an a**hole yet?
I'm not going to say that NJ is a full-on rude state, but people there can be pretty rude and obnoxious. And yes, for some reason everyone is in a rush, greedy, and a bit on the paranoid side (which I never understood.) "If you don't like it suck it up" mentality doesn't measure up to the forms of bitchery I've seen growing up there.
So to the user that wants to move, do youself a favor and do it. You can always visit and will probably feel a lot better about visting when you have another place to go home to at the end of your stay (at least this is how I justify it.)
Do you want to live in an area that has huge swings like that? Places like Nevada, Arizona, and Florida have very limited opportunities. When prices can swing so drastically, it is telling you that there is no money around.
Last time I checked, NJ's unemployment rate was nothing to brag about.
Florida is rebounding. NV and AZ I would never live in but I would consider FL since it's warm, cheap, and has a lot of rapidly expanding major cities.
Last time I checked, NJ's unemployment rate was nothing to brag about.
Florida is rebounding. NV and AZ I would never live in but I would consider FL since it's warm, cheap, and has a lot of rapidly expanding major cities.
Yep, everything is cheap in other cities including salaries.
This is typical ignorant east coast nonsense -- "if you have a problem, it's not other people, it's you." Well what if you are dealing with a group of a**holes all day at work? Is the problem still you since you haven't conformed to become an a**hole yet?
yeah, the problem is you because there is a greater chance of you being the a-hole than you finding an entire group where everyone is an a-hole.
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Bs...
