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If that means the area outside Philly I wouldnt be surprised. In my (oil) industry, the plants there are outdated and not very profitable. Valero and Sun closed their plants, maybe more soon. Each one is about 500 jobs or so.
I wonder if this includes LBI. I still find LBI (and Beach Haven West) to be horrendously overpriced. It's gone down some, but still has a long way to go before it dips (dives) back to historical norms. I wonder why this area hasn't felt the affects like other markets?
If that means the area outside Philly I wouldnt be surprised. In my (oil) industry, the plants there are outdated and not very profitable.
Living as close as I do to Sunoco, i'm not crying about that. But still, what would the Philly area care about 1000 refinery jobs? Verizon is laying off 10,000.
As the article says, Atlantic City is the overvalued market, not the Philly suburbs. And why wouldn't it be. They had a huge housing boom 4 years ago and the casinos keep losing more revenue every quarter.
Atlantic City is the major employer in SJ, as it goes down so do housing values
I have no idea where you live but there's a lot more traffic traveling West in the mornings in South Jersey then traveling East. Apart from gambling, which isn't exactly a labor intensive economy, AC doesn't have much in terms of job opportunities... and few of the jobs they do have are worth having by NJ standards.
Atlantic City is the major employer in SJ, as it goes down so do housing values
AC is on the verge of booming, I'm sure there will be unprecedented growth in the AC area in the upcoming decade.
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