The ever-volatile real estate market, with its once-again escalating prices, is having an impact on New Jersey. This highly populated area, according to a recent story in www.phillypurge.com, is currently experienced some of the highest rates of foreclosure and mortgage delinquency of any area in the US. All of this could have a very negative impact in what has overall been seen as a rebound in the US housing markets.
Overall, one of the major issues impacting real estate today is the looming housing shortage. According to www.phillypurge.com, the best-case scenario as far as solving this crisis would have to be an uptick in the creation of new housing. Complicating matters, however, is the reality that if too many properties are suddenly released on the market at once (if the current bottleneck in building permits is resolved), a rush to sell might push prices down, adding to New Jersey’s difficulties.
Even given all the complexities of the current market, there is still a lot of good news for New Jersey real estate. Many of the new homes there are due to appreciate, and the increase in market value here could create a kind of renaissance in real estate values.
Part of the expected increase in real estate value comes from expectations for new development. Many new housing developments as well as entertainment centers are due to open soon, and with their easy access to transit centers, and the promise of new jobs they bring, they are expected to push up values in a big way. Check out Bloomberg to know more.
One of the leading players in the overall improvement of New Jersey, is Boraie Development. This company has a long (over twenty years) history of creating successful developments to New Jersey, mostly using private investment funds led by Omar Boraie.
Boraie Development has always kept its eye on the future of this area, as it laid out plans for attractive housing properties and retail areas that will add value to the community. All of this adds up to a strong investment in New Jersey, which looks to have a bright future once the current issues are resolved. Check out boraie.com