The “fix” is easy

The fix is to allow lenders to foreclose without requiring approval of the judiciary, everything else is a gimmick and give-away, like this from NJ101.5:

HOW CAN WE FIX SOUTH JERSEY’S TROUBLING FORECLOSURE MESS?

A new report finds the foreclosure crisis in South Jersey is more severe than any other part of the state.

The report finds New Jersey has highest foreclosure rate in the nation.

Darren Spielman, the executive director of the Senator Walter Rand Institute for Public Affairs at Rutgers-Camden, said the average foreclosure rate in the Garden State is 1 in every 639 housing units. But six of the eight counties with the highest foreclosure rates are in South Jersey.

He said this is the result of lower incomes in South Jersey.

“The economy hasn’t rebounded the same way it has up north coming out of the recession. There are still pockets of low employment,” he said.

He noted when properties are sitting for years as real estate owned, which means they’re foreclosed and owned by a bank or the municipality, they lose about half their value, which in turn drags down the value of other homes in the area.

The report points out that along with the high number of foreclosures, South Jersey has a high percentage of lower and middle-wage individuals living in homes and apartments they can’t afford.

“If you look at the six counties with the highest foreclosure rates, nearly 61 percent of renters are in housing that is unaffordable based on federal guidelines, and more than half of owners are in unaffordable housing,” he said.

To address this, he said we need “to create an efficient process to get foreclosed properties back on the market in a way that they can get into the hands of residents in an affordable way.”

This entry was posted in Economics, Foreclosures, South Jersey Real Estate. Bookmark the permalink.

64 Responses to The “fix” is easy

  1. Mike says:

    Good Morning New Jersey

  2. Yo! says:

    South Jersey real estate disaster. Thank you Grim for prompting me. Salem house price -16% this year to $105,000. Condos going for $20,000 there. South Jersey is broken.

  3. D-FENS says:

    The law further taxing shore rentals will make it worse…

  4. Grim says:

    South Jersey won’t recover as long as it borders Penn and Delaware, both of which are significantly less expensive places to live or retire.

    What benefits NJ in the Northeast portion of the state is a negative in the south.

  5. JerseyJerk says:

    Well “I” just loooove how great America is now,

    How’s about yooouse?

  6. Libturd...look me up in Costa Rica says:

    With the long beards, it’s hard to tell a Hasidic Jew from a hipster!

    The WAPO article Joyce linked to yesterday is terribly flawed from a devout Jew’s perspective. I would even go as far to say that Republicans are much less anti-semitic than the Dems are.

  7. ExEssex says:

    9:25 You need to get out more Stu. There are vast swatches of America that would love to see you burn. Just because…..

  8. Grim says:

    Democrat spokesperson and supreme champion Cortez says that Israel is an oppressor and is forcefully occupying Palestine.

  9. exEssex says:

    9:38 That’s what Roger Waters says must be right…..listened to too much Floyd?

  10. Libturd...look me up in Costa Rica says:

    If Americans only knew how many olive branches, how much financial support and really how much land Israel gave back to the Palestinians in the name of peace over the years. I swear, the only reason the settlements exist is so that the other (stupid) Arab nations can continue to have something to complain about. Israel isn’t shooting unguided missiles regularly into random neighborhoods or donning keffiyeh, boarding buses and blowing themselves up.

  11. Libturd...look me up in Costa Rica says:

    Was down at Hard Rock Atlantic City for an event this past weekend. What an absolutely gorgeous property. It was pretty packed too, for a non-Summer, non-holiday weekend.

  12. chicagofinance says:

    Republicans are just anti-semitic, but no more so that any other minority…… Democrats actually want to put an end to Israel and take all the Jews money in the United States….. essentially anything Jews have is the result of their fostering the slave trade from Africa to America….

    Libturd…look me up in Costa Rica says:
    October 29, 2018 at 10:16 am
    If Americans only knew how many olive branches, how much financial support and really how much land Israel gave back to the Palestinians in the name of peace over the years. I swear, the only reason the settlements exist is so that the other (stupid) Arab nations can continue to have something to complain about. Israel isn’t shooting unguided missiles regularly into random neighborhoods or donning keffiyeh, boarding buses and blowing themselves up.

  13. D-FENS says:

    Trump isn’t a Republican anyway

  14. Libturd...look me up in Costa Rica says:

    True!

  15. Bystander says:

    One thing for sure, Israel kept the hot ones. We get the looks of Babara Streisand and Amy Schumer.

  16. Libturd...look me up in Costa Rica says:

    We do have Scarlett Johansson, Natalie Portman, Buffy the Vampire Slayer and Beyonce.

    Ok, not Beyonce. But I think we have Hilary Clinton too. I recall her claims of having Jewish roots (and Indian and Chinese and Black).

  17. Libturd...look me up in Costa Rica says:

    Oh yeah. My old flame, Amanda Bynes!

  18. exEssex says:

    12:15 You take that back….Babs is gold!!!! Yeah Sabras are super hot often. What people don’t realize is how secular most of Israel is. People are just like anyone. Most barely keep kosher, they get tattoos , etc……The far right in Israel is not the “norm” either. Or at least it wasn’t until recently. Ugh.

  19. ExEssex says:

    …and those with no sandwiches, please get off the bus…..

    https://youtu.be/8lRUCdvy6dw

  20. Libturd...look me up in Costa Rica says:

    There are a good number of super Jews in Israel though. They are the scary ones. They are the ones who move in right next to the Palistinian lands, intentionally.

  21. Gobsmacked says:

    Time to cue Adam Sandler’s Hanukah song?

  22. Libturd...look me up in Costa Rica says:

    Which (money-making) version?

  23. chicagofinance says:

    I still remember going to the bus station in Tel Aviv when I was 22. I walked in and there is this tanned brunette with tight natural curls in fatigues standing on-guard with a machine gun. I just stood there……

    https://www.pinterest.com/jacqueb65/the-women-of-the-idf/

  24. Bystander says:

    Lib,

    Hit Buzzer..Natalie born in Israel. Her hotness was direct import like Gal Gadot

  25. The Original NJ ExPat says:

    South Jersey won’t recover as long as it borders Penn and Delaware, both of which are significantly less expensive places to live or retire the rest of NJ.

  26. The Original NJ ExPat says:

    Never trust the morning rallies.

  27. The Original NJ ExPat says:

    I wonder how much better off our country would be if the demographics of the country were as myself and my 10 year old friends thought the rest of the world was, which was the same as our neighborhood.

    40% Jewish
    40% Catholic
    12% Protestant
    8% Other

    Does anyone else think that balance wouldn’t work in a civilized society?

  28. Ottoman says:

    Hitler felt the same way about “others” as you do. You two just disagree on which groups belong in that category:

    “I wonder how much better off our country would be if the demographics of the country were as myself and my 10 year old friends thought the rest of the world was, which was the same as our neighborhood.

    40% Jewish
    40% Catholic
    12% Protestant
    8% Other

    Does anyone else think that balance wouldn’t work in a civilized society?”

  29. Ottoman says:

    Israel is a terroristic apartheid state. I’d be happy to steal your house and send you to live in Rahway state penn without reliable utilities which is basically what the zionists did and continue to do to the Palestinians in a Gaza with the full support of the US government.

    Grim says:
    October 29, 2018 at 9:38 am
    Democrat spokesperson and supreme champion Cortez says that Israel is an oppressor and is forcefully occupying Palestine.

  30. Ottoman says:

    You are fvcking delusional.

    Libturd…look me up in Costa Rica says:
    October 29, 2018 at 10:16 am
    If Americans only knew how many olive branches, how much financial support and really how much land Israel gave back to the Palestinians in the name of peace over the years. I swear, the only reason the settlements exist is so that the other (stupid) Arab nations can continue to have something to complain about. Israel isn’t shooting unguided missiles regularly into random neighborhoods or donning keffiyeh, boarding buses and blowing themselves up.

  31. Ottoman says:

    Quote of the day

    “Jews will not replace us” – Fast Eddie, probably.

  32. JCer says:

    Otto, it is you who is delusional and fundamentally do not understand the history of the region. On one side we have a functioning country, with a good societal and economic development. On the other side a basket case whose number one export is terror, who produces nothing and sucks aid, while calling for the other side to cease existing. It’s no wonder liberals steadfastly support Palestine.

    The history is complicated but Palestinians haven’t had sovereignty over the territory for something like 3000 years, no one has good claim to the land, but the territory is far more free under Israeli control than it would be under Palestinian control, please note these are people who when given democracy elect TERRORISTS. They kill innocent Israelis indiscriminately( I know people who lost family in indiscriminate bombing), there position is a result of their actions and it shows because the Jordanians don’t want to take them despite being the same people.

  33. The Original NJ ExPat says:

    I worry that Ottoman may be giving himself cancer. He hoards venom like crazy people hoard newspapers.

  34. The Original NJ ExPat says:

    And Essex bends over and begs to have some of of that venom injected where the sun don’t shine, because he still can’t get enough.

  35. The Original NJ ExPat says:
  36. ExEssex says:

    I wish I loved p@nis half as much as Expat….yeeesh

  37. The Original NJ ExPat says:

    I think you love c0ck enough already. It’s knee pads that you need.

  38. ExEssexy says:

    4:44 the only cock I love? Mine. Thanks

  39. D-FENS says:

    Wacists saying anti-semetic stuff then calling other people Wacists. Amazing.

  40. Libturd...look me up in Costa Rica says:

    Otto.

    You are 100% clueless. For starters, no one is in any prison. Second point, the Palestinian claim to Jerusalem is so far-fetched it should not even be considered. Religiously, it belongs to the Jews, regardless of whether you believe in the old, the new or the terrorist book. I am not religious though, so I could care less what the good books say. And sadly, the Palestinians are the least religious of all of the Arabs which is why they receive almost no aid from the rest of the Arab world.

    Regardless, the truth is, if the Palestinians chose peace over war, they would be able to live wherever they chose in Israel. THAT OPTION HAS ALWAYS BEEN THERE! Even after being attacked by the entire Arab world on a high holiday! Clueless you are!

  41. D-FENS says:

    He’s a very hate filled person. There’s too much of that online these days.

  42. D-FENS says:

    I for one am thankful for the Israelis. They gave us the uzi and the desert eagle.

  43. Comrade Nom Deplume, Winning! says:

    I was a zombie for my meetings in Brooklyn yesterday but it was sooooo worth it. So tired afterwards that I pulled into a rest area on the Turnpike and took a nap on my way back to the office.

    Almost as zombified today. Still worth it.

    All this winning feels good.

  44. Comrade Nom Deplume, Obviously says:

    “Libturd…look me up in Costa Rica says:
    October 30, 2018 at 9:36 am
    Otto.

    You are 100% clueless.”

    Gonna change your name from Captain Cheapo to Captain Obvious

  45. D-FENS says:

    Trump declares his first national monument, honoring African-American troops

    https://www.mcall.com/news/nationworld/mc-nws-trump-national-monument-20181027-story.html

  46. D-FENS says:

    Oh Jesus…

    https://wfan.radio.com/articles/news/kyle-lauletta-giants-qb-arrested

    Kyle Lauletta, the rookie quarterback many Giants fans are clamoring for to replace Eli Manning, was reportedly arrested Tuesday morning in Weekhawken, New Jersey.

    According to NJ.com, Lauletta is accused of failing to obey a police officer’s directions while driving to the Giants’ practice facility and coming close to striking the officer with his vehicle.

    “We are aware of the situation and are in contact with Kyle,” a Giants official told NJ.com. “We are still gathering information.”

    The Giants drafted Lauletta, 23, in the fourth round this year out of Richmond. He has yet to take a regular-season snap.

  47. Comrade Nom Deplume, Capo di tutti says:

    Whitey Bulger sleeps with the fishes.

    Mafia doesn’t forget.

  48. Juice Box says:

    re: Kyle Lauletta – “trying right turn from the wrong lane to get to Route 495 East and was directed to keep going straight” Made the right turn anyway? I know that intersection, Rt 495 east takes you into the tunnel. They must mean Rt 495 west and a left turn. That is a crappy intersection there is usually a cop there every morning who hates life because they put him in that intersection every morning to direct traffic.

  49. Juice Box says:

    Enrollement time for heathcare at work. We are now down to one choice!

    “NJ employers struggling to maintain health coverage, NJBIA survey finds”

    “Companies continue to use a variety of core strategies to manage health care costs, with 38 percent introducing high-deductible health plans and 37 percent increasing deductibles, co-payments or co-insurance.

    Ninety-two percent of members say that the cost of health care coverage is the biggest reason they may drop coverage for employees.

    Members, on average, are spending $8,292 annually for employee-only plans. That’s compared to $7,044 for the same expenditure in 2016, nearly an 18 percent increase.”

    http://www.njbiz.com/article/20181030/NJBIZ01/181039983/nj-employers-struggling-to-maintain-health-coverage-njbia-survey-finds?utm_source=NJBIZ%20Daily&utm_medium=Email&utm_campaign=Tuesday%2C%20October%2030%2C%202018

  50. Libturd...look me up in Costa Rica says:

    Never trust a morning market meltdown.

  51. Libturd...look me up in Costa Rica says:

    Trains are f-ed up again!

  52. 3b says:

    Cold weekend in Paris! Absolutely freezing! I have to say though everyone was very friendly and helpful no anti Americanism that we could see. Today in Barcelona 60 and sunny! These Catalans love to shop! Independence signs and flags everywhere! A lot of people speak English almost no Spanish. All Catalan.3

  53. ExEssex says:

    MAGA MAGA MAGA

    When the dumbest white man to breath takes office.

    and the rest of the idiots in the Country actually relate to him somehow…..

  54. ExEssex says:

    Breath = Breathe…..

  55. MAGA2020 says:

    Trump is a political genius, the likes of which we have never seen. Dolts like Essex can’t recognize it. He prefers the empty rhetoric types like blamma.

    Now that his court is stacked start to bring the court cases. Looks like there is a reasonable shot that the borders jumpers are going to be carved out of the birthright citizenship privilege.

    MAGA

  56. D-FENS says:

    Bulger and Mueller have history. His death is a really convenient coincidence.

  57. Libturd...look me up in Costa Rica says:

    I am not a crazy left winger. What Trump is trying to do by executive order is 1,000 times worse than what Obama did with forcing people to have insurance. To say otherwise is an admittance of your utter stupidity? The precedent that Trump is setting here is extremely dangerous.

  58. ExEssex says:

    Countdown to the blue wave…….

  59. D-FENS says:

    Lib, not necessarily my opinion….but here’s one of the arguments. It’s a discussion that should be had.

    Birthright Citizenship Stems from Fundamental Misunderstanding of 14th Amendment

    https://www.cnsnews.com/commentary/hans-von-spakovsky/birthright-citizenship-stems-fundamental-misunderstanding-14th

  60. Libturd...look me up in Costa Rica says:

    https://mediabiasfactcheck.com/cns-news/

    Not gonna waste my time with it.

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