Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > New Jersey
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 08-06-2008, 11:45 AM
 
33 posts, read 78,184 times
Reputation: 11

Advertisements

What happens when all the baby boomers retire and are forced to move out of NJ because of high taxes? Won't their be a huge increase in supply on the housing market causing prices to drop?
Reply With Quote Quick reply to this message

 
Old 08-06-2008, 11:48 AM
 
Location: Stewartsville, NJ
7,577 posts, read 22,648,347 times
Reputation: 1260
Quote:
Originally Posted by pete0428 View Post
What happens when all the baby boomers retire and are forced to move out of NJ because of high taxes? Won't their be a huge increase in supply on the housing market causing prices to drop?
I was thinking about this myself today...our town is asking for opinions on what kinds of developments we should and shouldn't allow in our town. I would love to see a 55 plus community go in..lower end homes..lower taxes. It wouldn't be much of a burden on the existing resident as they would be paying property taxes and having no kids... It would help us out not hurt us and would be a great addition for the elderly who want to stay in NJ.
Reply With Quote Quick reply to this message
 
Old 08-06-2008, 11:51 AM
 
Location: Savannah GA/Lk Hopatcong NJ
13,416 posts, read 28,801,406 times
Reputation: 12103
Quote:
Originally Posted by wileynj View Post
I was thinking about this myself today...our town is asking for opinions on what kinds of developments we should and shouldn't allow in our town. I would love to see a 55 plus community go in..lower end homes..lower taxes. It wouldn't be much of a burden on the existing resident as they would be paying property taxes and having no kids... It would help us out not hurt us and would be a great addition for the elderly who want to stay in NJ.

HELLO!!!! 55 is not elderly!!!
Good idea though..I'd move to farferling in a heart beat
Reply With Quote Quick reply to this message
 
Old 08-06-2008, 11:55 AM
 
33 posts, read 78,184 times
Reputation: 11
Yes but that still leaves the expensive houses that these people used to live in, what happens to them?

If there is a large number of them that come onto the market at the same time and no prospective buyers because no younger people can afford these prices, what happens? Would the prices have to drop due to basic economics(supply vs. demand)?
Reply With Quote Quick reply to this message
 
Old 08-06-2008, 12:21 PM
 
Location: Stewartsville, NJ
7,577 posts, read 22,648,347 times
Reputation: 1260
Quote:
Originally Posted by njkate View Post
HELLO!!!! 55 is not elderly!!!
Good idea though..I'd move to farferling in a heart beat
Sorry Granny ... I have a bit of time left before I head over the hill... promise to meet me on the other side when it's my turn
Reply With Quote Quick reply to this message
 
Old 08-06-2008, 12:23 PM
 
Location: Stewartsville, NJ
7,577 posts, read 22,648,347 times
Reputation: 1260
Quote:
Originally Posted by njkate View Post
HELLO!!!! 55 is not elderly!!!
Good idea though..I'd move to farferling in a heart beat
There's a 200 acre piece for sale... this would be a perfect plan for that property. Not far from Rt. 80 either as I know how you old people are with directions and too many roads to turn on and off of.
Reply With Quote Quick reply to this message
 
Old 08-06-2008, 12:34 PM
 
Location: Savannah GA/Lk Hopatcong NJ
13,416 posts, read 28,801,406 times
Reputation: 12103
Quote:
Originally Posted by wileynj View Post
There's a 200 acre piece for sale... this would be a perfect plan for that property. Not far from Rt. 80 either as I know how you old people are with directions and too many roads to turn on and off of.

Hmm that's what they make GPS systems for nowadays
Reply With Quote Quick reply to this message
 
Old 08-06-2008, 12:35 PM
 
Location: Savannah GA/Lk Hopatcong NJ
13,416 posts, read 28,801,406 times
Reputation: 12103
Quote:
Originally Posted by pete0428 View Post
Yes but that still leaves the expensive houses that these people used to live in, what happens to them?

If there is a large number of them that come onto the market at the same time and no prospective buyers because no younger people can afford these prices, what happens? Would the prices have to drop due to basic economics(supply vs. demand)?
As long as NYC is still thriving, I don't think we will have that problem to the extent other states may have
Reply With Quote Quick reply to this message
 
Old 08-06-2008, 12:35 PM
 
Location: Here but I spend time There.
1,972 posts, read 5,431,244 times
Reputation: 562
Quote:
Originally Posted by njkate View Post
Hmm that's what they make GPS systems for nowadays

Ummmm and have you seen an AARP member trying to work a GPS system lately? they're barely getting used to satellite radio
Reply With Quote Quick reply to this message
 
Old 08-06-2008, 12:39 PM
 
Location: North Carolina
6,957 posts, read 8,511,263 times
Reputation: 6777
Quote:
Originally Posted by wileynj View Post
I was thinking about this myself today...our town is asking for opinions on what kinds of developments we should and shouldn't allow in our town. I would love to see a 55 plus community go in..lower end homes..lower taxes. It wouldn't be much of a burden on the existing resident as they would be paying property taxes and having no kids... It would help us out not hurt us and would be a great addition for the elderly who want to stay in NJ.
wileynj - I agree wholeheartedly! NJ does not have as many retirement communities as it should. Ambulances are a lot cheaper than schools, which help keep taxes down.

pete0428 - Yes, if the current trends continue, with NJ residents moving out or retiring to senior communities, housing prices for large homes will come down, or not appreciate to the same extent. It's like SUVs and large pick-up trucks - nobody wants them now!
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:




Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > New Jersey
View detailed profiles of:

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top