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TAKING THE HYPE OUT OF HOBOKEN REAL ESTATE: Lack of real estate data transparency prevents sound decisions from objective sources. The current debate on property values in Hoboken, NJ and their future direction seems to have brokers and flippers sounding off about the resilience to any vulnerability. This blog has been erected to bring some RE.ality (real estate reality) to the discussion.
2 comments:
According to BusinessWeek's cover story this weekend, 2012 before things look stable in housing. Their Metro NYC forecast:
"New York
Metro: New York-White Plains-Wayne (N.Y.-N.J.)
What a Home Will Be Worth in 2012: $343,937
Q4 2008 price: $440,000
Projected price change by MSA: -21.8%
Projected price change by state: -15.6%
One of the metros with the highest housing prices in the nation, the New York-White Plains-Wayne area is projected to have the third-largest drop in the country, behind Los Angeles and Tampa. Analysts predict that 2009 and 2010 will be the worst years, and then home prices will stabilize. Of particular concern is the impact that the crisis in the financial industry, one of the area's largest employers, has had on the housing market. From banker to back-office staff, thousands lost their jobs or saw their incomes slashed. As Wall Street strengthens, so will real estate prices."
I would like to add a comment about what is going on at the other broker sites. I stumbled on your site because I was fingered as the author of this site during an unrelated discussion. Putting the pieces together, this site was not hard to search and find.
Anyway, I see this as an opportunity for you to enhance your info on Maxwell gathered so far. As a prospective buyer, that is just one of the Hoboken area properties I have been reviewing. Granted, your views have convinced me otherwise, so far.
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