From Newsweek:
Home Sales Collapse in Several States
Sales of new homes in the Northeast and the Midwest plunged in February, helping to bring down the market overall across the country, as elevated mortgage rates dissuaded buyers from purchasing property.
The Northeast registered a 31.5 percent nosedive in single-family home sales, while the Midwest saw a decline of 2.4 percent, contributing to a 0.3 percent of drop at the national level of 662,000, according to data from the U.S. Census Bureau and the Department of Housing and Urban Development. Bloombergeconomists had forecast sales of 677,000. The South had more encouraging data, registering a 3.7 percent increase, while the West also saw positive numbers, up 2.3 percent for the month.
Analysts blamed high mortgage rates for the disappointing numbers.
“Rising mortgage rates subdued activity in February,” Yelena Maleyev, KPMG’s senior economist, said in a note shared with Newsweek.
…
The fall in new home sales is a reverse of a recent trend in the existing homes market. That segment saw sales jump 9.5 percent last month despite the rise in mortgage rates, which for a while had dissuaded sellers from putting their homes on the market, reluctant to give up the low loan rates they secured in the past.
But still high year over year.
https://www.reuters.com/markets/us/us-new-home-sales-unexpectedly-fall-february-2024-03-25/
Sales of new U.S. single-family homes unexpectedly fell in February after mortgage rates increased during the month, but the underlying trend remained strong amid a chronic shortage of previously owned houses on the market.
The report from the Commerce Department on Monday also showed the median new house price last month was the lowest in more than 2-1/2 years, while supply was the highest since November 2022. Builders are ramping up construction, while offering price cuts and other incentives as well as reducing floor size to make housing more affordable.
New home sales slipped 0.3% to a seasonally adjusted annual rate of 662,000 units last month, the Commerce Department’s Census Bureau said. The sales pace for January was revised up to 664,000 units from the previously reported 661,000 units.
Economists polled by Reuters had forecast new home sales, which account for 13.1% of U.S. home sales, would rise to a rate of 675,000 units. New home sales are counted at the signing of a contract, making them a leading indicator of the housing market. They, however, can be volatile on a month-to-month basis. Sales advanced 5.9% on a year-on-year basis in February.
Those poor people on the Key bridge in Baltimore when the ship hit it. Awful
1,000 ft ship leaving port around 1:30 am. Thankfully wasn’t rush hour, they say 20 missing.
Christ, you can see the cars on it as it goes down.
https://www.youtube.com/watch?v=83a7h3kkgPg
I think we’re going to be seeing a lot of this video today.
-5.25ish as of right now, but this is a livestream.
Ship has no lights on, then at some point appears that emergency lights come on.
Juice
Yes. Thankfully it was middle of the night instead of rush hour when there would have been hundreds of cars on that bridge.
I’ve driven on that bridge
Ship smashed the pile foundation and was so tall it hit the steel pilings holding up the giant arch span that was 1200 ft long, those piling were bent until collapse, a massive amount of force. Whatever they replace it with will need to be constructed differently. They cannot use a tunnel, this bridge was built in lieu of a tunnel because it needed to carry trucks with hazardous materials which aren’t allowed in tunnels. It’s a massive blow to Baltimore as they process a large amount of shipping. It could be a while before that channel is cleared for shipping, tha5 channel is supposedly only 50 ft deep.
Speaking of Baltimore, THE WIRE is the best series ever.
The Sopranos is a close second.
Did Boeing build that ship
What will be the economic impact, looks like the entire port goes through that strait.
How do I find a good medical oncologist in Dallas area?
Is there a legit site that ranks them?
Time of contact video…damn….
https://youtu.be/7JDeBPuFQS0?si=q5ekjzYy8Y4VpAoc
Looking at that video, it’s clear the ship is having some issue. Lights are out, no smoke out of the stack. You see the emergency lights pop on, then the ships engines restart. They must have put that thing full reverse to try to avoid it, but they were too close (big plume of exhaust). Appears to slow quite a bit heading towards the uprights, but ultimately nails them head on.
Amazing how quickly that whole thing came down, like a matchstick bridge.
Big 18 wheeler rolls over just about a minute before, you know that guy is watching that livestream video and seeing himself drive over just immediately before the impact.
Also looks like 3 or 4 construction/worker trucks were doing some kind of maintenance mid-span, curious if they stood to watch or went running – not that they would have gotten far enough before it came down.
My wifes EX just sold his house in White Meadow Lake ,one day showing…line out the door to the street. listed @ 389,000.
Multiple offers, final price $450,000, no inspections $100,000 deposit with offer. A mother is helping her son and his wife to buy it. Totally insane. People are crazy and inflation is still here, no doubt about it !
https://www.zillow.com/homedetails/21-Seneca-Ave-Rockaway-NJ-07866/39496602_zpid/
ABC reported that MD-DOT was alerted by the ship that it had lost power and a collision was possible. Timing of such a call will be of note. Concrete maintenance was being performed on the bridge deck.
Jim,
The house just has one full bath? No half bath? That price would’ve been higher with another bathroom, even half bath. Still, 16% over asking price is the tally. The price point of 450K is the limit for a majority of folks. I assume the buyers were trying to look closer east than Rockaway and had to venture west until they got a hit on the line.
People are their own worst enemy. Then they will cry that housing is a scam after doing dumb moves like this….timing matters. Have to be an idiot to overpay in tight market like this…go rent.
Jim says:
March 26, 2024 at 8:10 am
My wifes EX just sold his house in White Meadow Lake ,one day showing…line out the door to the street. listed @ 389,000.
Multiple offers, final price $450,000, no inspections $100,000 deposit with offer. A mother is helping her son and his wife to buy it. Totally insane. People are crazy and inflation is still here, no doubt about it !
https://www.zillow.com/homedetails/21-Seneca-Ave-Rockaway-NJ-07866/39496602_zpid/
That’s all the current prices are a reflection of….people fomoing into real estate.
Fast Eddie ,
The irony is he had to sell because he lost his job @ 72, could no longer afford to pay mortgage, he is going to an apartment in Rockaway. Never saved for a rainy day.
God bless those people on the bridge….what a straight free fall down. One of my biggest fears when I go on a bridge…
Well Pumps, channeling your inner essence, good for the Port of Newark.
Chi,
That’s for sure!
Jim,
Need to save for a rainy day. At 72, he should’ve had a nest egg to fall back on. Either way, he will collect his retirement fund with the sale.
Sometimes people just need a place to live.
What does it matter if it’s your forever home.
The Great Pumpkin says:
March 26, 2024 at 8:46 am
People are their own worst enemy. Then they will cry that housing is a scam after doing dumb moves like this….timing matters. Have to be an idiot to overpay in tight market like this…go rent.
Who is this lady basketball player that is smattered constantly on every website I visit? Are they trying to draw comparisons to the men’s tournament or woman’s sports being on par with men in competition or something else I may be missing? I can tell you this, put Don Bosco Prep on the floor with any pro woman’s BB team and those poor damsels will get annihilated. Just saying.
For LW. This is what happened. Watch 1-2 minutes. A real pilot.
https://youtu.be/wXMO0bhPhCw?t=2178
Why did he still have a mortgage at 72? Wife? Had to refinance to buy her out?
Jim says:
March 26, 2024 at 8:47 am
Fast Eddie ,
The irony is he had to sell because he lost his job @ 72, could no longer afford to pay mortgage, he is going to an apartment in Rockaway. Never saved for a rainy day.
Eddie, I assume you are referring to Caitlyn Clark. Probably the best female basketball player I’ve ever seen. Her shooting is insane and her grasp of the game at all levels is off the charts. Great passer, defender.
Phoenix says:
March 26, 2024 at 10:06 am
Why did he still have a mortgage at 72? Wife? Had to refinance to buy her out?
Actually he screwed my wife over, left for a younger woman. married her and she kicked him out after 6 months. he is a pothead.
He came back to NJ, his father lent him $$ 30 years ago and he bought the house in WM lake. He kept re-financing so he had extra $$ to spend . Actually best thing that ever happened to my wife when he left…good riddance to bad rubbish.
I’m flabbergasted by the amount of twenty/thirty somethings who need their parents to give them money for the downpayment.
Get some roommates, rent and save. I don’t know a single niece, or nephew that lives with roommates. I have a lot them. Not a single one is married yet. The most elder is late twenties.
I lived with roommates from college through marriage. Cuts costs in half. Utilities, food, heat, etc., too. Yeah, it’s expensive as shit now. Get a roomie and make it affordable.
All my brothers and sisters (all 6) lived with roommates after college. What gives?
Chasing the P is never good.
Actually he screwed my wife over, left for a younger woman. married her and she kicked him out after 6 months. he is a pothead.
Well, to buy the house mentioned, y0u need 90k in cash to get to 20% and not be ripped off with PMI.
Big nut for a single person, possibly college loans, etc.
Things don’t cost what they used to.
BRT says:
March 26, 2024 at 10:43 am
I’m flabbergasted by the amount of twenty/thirty somethings who need their parents to give them money for the downpayment.
The one thing I’ve noticed is that all the married couples seem to rent high end lofts/townhomes in hip places like Morristown or Hoboken. Talking to a coworker, she told me she’d never be able to afford a home. Meanwhile, her rent is more than my mortgage and they are taking the train into the city seeing shows on a weekly basis. There’s no long term plan by young millenials and definitely none from Gen Z.
LIb,
Nurses are freezing their eggs. Many hospitals have this as a benefit. Most of the 30 year old female ones I work with are trying desperately to find someone that makes enough money to bring them to Turks and Caicos. They are not settling for any guy, they want the ones with lots of money.
The ones their age, are boys. Not men. We don’t make men any more just like we cannot make an Iphone.
Phoenix, I agree. But when my wife and I wanted to get in the market, it was 2006/2007 and insane. We rented a small 1 BR apartment, worked extra jobs. We were banking a full salary a year. These people need to wait it out.
A massive cargo ship leaving the Port of Baltimore lost power and issued a mayday call shortly before striking a major bridge early Tuesday, giving officials a brief chance to stop cars and try to evacuate the span before it collapsed into the river.
By Tuesday morning, six construction workers who had been fixing potholes on the Francis Scott Key Bridge remained missing as divers and other emergency workers on boats and helicopters continued to search for them. Two others had been rescued, and one was in the hospital, said Paul J. Wiedefeld, Maryland’s transportation secretary.
Gov. Wes Moore of Maryland called it a terrible accident. “We haven’t seen any credible evidence of a terrorist attack,” he said. The bridge is part of Interstate 695.
Initially, officials feared that drivers were submerged in their cars in the Patapsco River. But the mayday call from the Dali, a Singapore-flagged vessel, gave officials enough time to stop traffic at both ends of the bridge, according to several federal and Maryland officials. That action saved lives, Mr. Moore said, adding, “These people are heroes.”
The road repair crew, however, remained on the bridge, with their vehicles parked on the span, said Senator Chris Van Hollen of Maryland.
https://www.nytimes.com/live/2024/03/26/us/baltimore-bridge-collapse?campaign_id=60&emc=edit_na_20240326&instance_id=0&nl=breaking-news&ref=cta®i_id=85514227&segment_id=161817&user_id=1c4b9fe6cef19a30e3bbbbde11dd8b34
Statistically speaking, only 50% of people who haven’t had their first child by age 30 will have kids. This is the collective result of a lot of things, failure to get married, biological reasons etc… The general population needs to be made aware of this because they are all under the delusion that they can focus on their goals and then get married at age 38 and have their kids. The end result is that plan just doesn’t work out for half of the population.
Women decide if kids are to exist.
Women don’t want to have kids if it comes at their expense.
It’s a side effect of radical feminism and the demise of the middle class.
Rightwingers voting against livable wages for young people.
Astonishing percentage growth of CEO compensation vs average worker.
BRT says:
March 26, 2024 at 10:43 am
I’m flabbergasted by the amount of twenty/thirty somethings who need their parents to give them money for the downpayment.
Rightwingers voting against livable wages for young people.
I’m doing my part to help the younger muppets. In April, I’m putting out the Summer Chex Mix Ranch a month early and Wednesday is Juicy Juice Apple Juice day! I also have the ‘win a tee shirt’ contest coming up, too!
I mentioned under 18 population is shrinking, it’s expected to shrink by about 7 million in the coming years.
For example there are about 600,000 less children in California than 10 years ago.
Here we go again- blaming housing unaffordability on the people who can’t afford to buy a house (they need to save more!).
When the real problem is lack of supply. And that’s caused by restrictive zoning rules supported by NIMBY homeowners.
Phoenix, I don’t know what crash this mockumentary is even about…and don’t have time to figure out the context…put the weepy APA guy in a room with Kinzinger and lawyers who sue other lawyers….and instead look at the actual documents not some youtube or tiktok production documentary.
If the video is actually speaking about the Lion 610 crash we’re in agreement…the AoA wasn’t working (and the Lion maintenance crew were aware of it), airspeed was an issue as it occurred repeatedly before on the same plane (and maintenance was aware of it), and contrary to your APA pilot saying manual trimming is physically impossible cutting the automatic trim is exactly what happened on exactly that plane the day before the crash which brought that flight back into control.
THAT PIECE OF METAL SHOULD NEVER HAVE BEEN IN THE AIR WITH THAT CREW ON THAT DAY AND THEY KNEW IT.
From the Indonesian accident report, posted yesterday, not some youtube video:
The AoA didn’t work and maintenance knew that…quote 1 below.
The airspeed indicators hadn’t worked for four prior flights and maintenance knew that…quote 2 below.
The pilots on the previous day’s flight handled the issue with manual trim bringing the plane in despite originally signalling a PAN-PAN…quote 3 below.
But perhaps most succint and damning are these quotes from the Indonesian authorities themselves…”On 28 November, Indonesia investigators said the Lion Air jet was not airworthy on the flight before the crash” and that NTSC agrees based on CVR evidence they refused to release that the pilots were checking handbooks for a solution and in panic mode as this situation developed.
References from above:
“On 7 November, the NTSC [Indonesian Air Authorities] confirmed that problems had occurred with Flight 610’s AoA sensors. Thinking that it would fix the problem, the engineers in Bali then replaced one of the aircraft’s AoA sensors, but the problem persisted on the penultimate flight, from Denpasar to Jakarta. Just minutes after takeoff, the aircraft abruptly dived. The crew of that flight, however, had managed to control the aircraft and decided to fly at a lower-than-normal altitude [and much higher ground speed]. They then managed to land the aircraft safely and recorded a 20° difference between the readings of the left and the right AoA sensors.”
“On 5 November, the NTSC announced that Flight 610 was still intact when it crashed into the sea at high speed, citing the relatively small size of the pieces of debris. The impact was so powerful that the strongest part of the aircraft was obliterated…Further examination of the aircraft’s instruments revealed that one of the aircraft’s airspeed indicators had malfunctioned for its last four flights, including the flight to Denpasar [the night before the crash].”
“On 28 November, the Indonesian NTSC released its preliminary accident investigation report. After airspeed and altitude problems, an AoA sensor was replaced and tested two days earlier on the accident aircraft. Erroneous airspeed indications were still present on the subsequent flight on 28 October, which experienced automatic nose-down trim. The runaway stabilizer non-normal checklist was run, the electric stabilizer trim was turned off, and the flight continued with manual trim; the issues were reported after landing.”
The old, seedy Seaside Heights… never more:
https://www.yahoo.com/news/seaside-heights-motel-demolished-townhouses-092407305.html
Rightwingers voting against livable wages for young people.
You can’t mass import labor, drive up the supply, and expect otherwise to happen. Develop a set of ideals that are consistent with each other.
If you don’t have the down payment, you shouldn’t be buying the house to begin with. Moreover, a lot of these people borrowing money from parents have unrealistic expectations on what their purchase should be. Why is it 4 Bedrooms in an expensive area or bust?
“Moreover, a lot of these people borrowing money from parents have unrealistic expectations on what their purchase should be. Why is it 4 Bedrooms in an expensive area or bust?”
Where in NJ are the smaller, affordable houses that they should buy instead?
Perhaps a condo or a townhome is in order. I agree with you, the NIMBYism needs to stop. But the situation at hand doesn’t justify going into massive debt to overpay for a home. Builders are putting up buildings left and right. I drove from Mercer County to Monmouth over the weekend. Tons of new inventory coming up in Monroe. If I were a potential homebuyer, I’d be waiting it out and saving money instead of tapping daddy/mommy’s reserves to jump in. What if the dishwasher breaks?
We’ve spoken about this before and what I don’t think Bergen County needs more buildings/people in it, it doesn’t. Other counties have the ability to put up new homes without much issue.
BRT: With the exception of some areas in northeast and north western Bergen Co, there is no land left to build small affordable houses. There are lots of towns where the tear down capes/ ranches are replaced by big Mc mansions or those mega farmhouse style houses. All the development is multi family in crappy busy/ commercial / busy street areas.
As for some of these young people wanting these big houses in the so called better towns , I agree . Why do they need a 4 bed 2 plus bath house with only one to 2 kids.
“Why do they need a 4 bed 2 plus bath house with only one to 2 kids.”
I think it’s because education has become evermore fragmented in New Jersey. If you’re not in the right town you have to send Grayden to school with a security detail. Or at least, that’s the perception if you’re living in the better towns.
“I agree with you, the NIMBYism needs to stop.”
“We’ve spoken about this before and what I don’t think Bergen County needs more buildings/people in it, it doesn’t. Other counties have the ability to put up new homes without much issue.”
Do you see the contradiction in these two statements?
When you’re all in favour of new housing being built, as long as it’s somewhere else, well, that’s kind of the very definition of NIMBYism.
OC,
They are directly responsible for the prices….who do you think it bidding it up? No one told them to bid it up. Sit and wait, but that’s why the market is irrational. Filled with idiots that need chit now.
Banks bailed out with taxpayer money should give interest free mortgages to low income people.
BREAKING NEWS!
Nicole Shanahan picked as presidential running mate.
The judge in the Bragg hush money case just put a gag order on Stormy Daniels.
Bazinga.
I’ve already stated to both you and 40 year that I don’t care. It’s not my backyard and it’s a free country. I left Bergen County and have no plans to go back. I don’t even enjoy visiting anymore. Calling out a bad idea isn’t Nimbyism. Bergen County is a miserable place with no space and too many people with too few roads.
BRT: No argument there. I drove from River Edge to Emerson last week around 8:30 in the morning. I just had to drop something off, quick in and out. It was 3 miles each way, took 40 minutes round trip.
Bergen Co has changed in the 30 plus years I have lived here, definitely more crowded, and dirty, in fact a lot of areas are getting kind of shabby looking; some really shabby.
I’m kind of with BRT on this one. It’s only nimbyism because things are a mess around here. In Vegas, there is rarely traffic. Even though the population is increasing like a game if SIM City played with a cheat code. None the less, no one is complaining about the literally hundreds of developments going up extending the valley further and further into the mountains. They built their roads with the expectation of the population to boom. In many places along their beltway (route 215) they haven’t even striped all of the lanes and the overpasses were built wide enough to add another two or three lanes in both directions. Around here, you would have to build a skyway to add a lane to most highways. The traffic is abysmal and now occurs most of the time, not just during rush periods. Exits, such as Route 1 on the GSP South, and 13 and 11 on the Turnpike back up so badly that they stall the highways since the quantity of the cars exiting exceed the capacity of the exit ramps. It’s only going to get worse from here. Quite frankly, traffic is #2 behind taxes/tolls as to why we are leaving. I am all for additional housing. But not the way money is squandered in corrupt NJ. On the bright side, Murphy took our tax dollars and granted it to a major donor who was supposed to grow produce in warehouses in Newark so the locals could have fresh produce instead of Popeyes and Checkers. Instead, his clientele is Whole Foods and rich Europeans. Look it up. Aerofarms. This is how it works in NJ. Give to a politician, get paid back in spades. Sit in traffic because your tax dollars continue to go nowhere except to enrich campaign contributors.
Some days, I spend an hour or so following the money at the county, local and state level when I see something that doesn’t make sense. I’m sure the federal earmarks are even worse. I remember during Covid getting my first shot at the Essex County Tech High School in Caldwell. Oh my god, I never saw a school like this. Multiple gyms, fancy tech everywhere. Meanwhile, back home, our town was floating the largest municipal bond in the history of town to repair the bathrooms and add air-conditioning to all of our schools since most didn’t have it. I dug into that school. The staff of the school read like a printout of Joey D’s family tree. All making close to 200K to manage a high school which probably needs no management whatsoever. A facility as nice and new as that, people take pride in. I see they are building more of them as well as County Public Works buildings with the most brilliant architecture and modern amenities that even large corporations would fawn over. It’s such a joke around here. All run by a double dipper who takes pride in that a zoo which he dumped hundreds of millions of dollars into is NOW break even.
3b, I know of two married couples, no plans to have kids at all, desire a 4Br. It makes no sense.
BRT: No it does not. What’s the point? Perhaps his and hers office, plus guest bedroom and their bedroom.
Back to school must haves.
New computers marketed to students will include AI.
BRT
Because it’s an investment. Not a home.
BRT
Women pick the house. Men just say OK dear.
They need their yoga room and man cave
“Calling out a bad idea isn’t Nimbyism. Bergen County is a miserable place with no space and too many people with too few roads.”
Then why is there such high demand for housing there?????
If Bergen County is “crowded and dirty” and “a mess” and “a miserable place” why is real estate so pricey? Why aren’t people leaving in droves? Why aren’t Ridgewood houses fetching Detroit prices?
Apparantly, there are a lot of people who disagree with you guys, and think it’s a very desireable place to live.
Unlike you guys with your socialist tendencies, I say let the free market work-let developers build sufficient houses, condos, apartments… so that anybody who wants to live in Bergen Co (or anywhere else) can find affordable housing.
They did that in East New York. Starret City.
I also think a big reason people don’t leave is because they are locked in their mortgages. I can leave because I can pay cash. Though, I will probably take out a mortgage for the tax breaks, plus it’s not hard to beat the interest rate investing in the stock market. If you look at the states where the population is increasing significantly, it’s where there is space. Likewise, if you look at the states where people are leaving, it’s where it’s overcrowded. I am pro free market. Wish the builders would build. They got so screwed in 2008, they are afraid to be left holding the bag again.
https://www.census.gov/library/visualizations/2023/comm/percent-change-state-population.html
‘I am pro free market. Wish the builders would build.”
Then we agree- we should upzone everywhere and let builders build the kind of housing they are willing to bet their own money on there being demand for. Single family homes on smaller lots, row houses, condo’s, apartment buildings, tiny house colonies… whatever.
Oc1:You cherry pick peoples comments or twist them. We have had this discussion before when it comes to Bergen Co, which, I don’t believe you are familiar with.
1. As noted a number of times before, Bergen Co with the exception of some areas in northeastern and north western Bergen Co, simply don’t have enough vacant land to build single family houses on any kind of scale. Of course, and as also previously noted towns could change zoning to allow POD housing or house sheds if you prefer on existing lots that already have houses. Will towns do it? Doubtful in my opinion. Will people buy them? Doubtful in my opinion unless it was family related.
2 As for desirability of Bergen Co, I never said it was not, the question is why? Schools? Perhaps, but most of Bergen Co schools are good depending on how one defines that term. I personally think they are overrated in some respects, but that opinion is based on having my own kids go through the system. They all have successful careers, and doing well. Is it because of the schools? Maybe? It certainly did not hurt. I will also acknowledge it may be just the state of education in the U.S. today in general.
As why else Bergen Co is desirable, proximity to NYC is a reason, though not as important as it was in the past.
So why else is it desirable? Perhaps, close to family and friends that already live here. Perhaps, perceived prestige to be able to say they live in Bergen Co.
As for Ridgewood and dirty , I never said Ridgewood was dirty, I did say that Bergen Co as a whole has gotten dirty , and yes shabby, and in some areas very shabby. That is a fact, and again I note it after over 30 years of living here. And yes, the traffic is horrible that’s a fact too. As for building housing, well yes housing is being built , multi family housing in bad physical locations, and fill in spots. These include malls, former supermarkets, busy streets, where formerly retail establishments were located, former nurseries, and on the side of highways. They are stuffing 300 to 700 units in these locations. They are all rentals by the way, no surprise as financing is cheaper for rental construction, and it would be tough to sell these as coops or condos.
So I again have pointed out to you the reality of the housing situation in Bergen Co. I can’t speak for the rest of the state, but north Jersey is crowded and built up, and with the exception of the multi family units being built, there is simply no room for single family houses to be built.
For all the Bronx guys here:
https://www.tiktok.com/t/ZTLMMTLvv/
lol, chalk another one up. I don’t think I’ve ever been called a socialist on this board. The demand question is easy. Every single person moving there is escaping NYC, an even worse place. Fact remains, all my childhood friends are complaining about it now. The people I know who live there are trapped in their jobs.
“The judge in the Bragg hush money case just put a gag order on Stormy Daniels.”
He slammed on on Donnie as well. Who do you think it hurts more.
https://www.foxnews.com/politics/new-york-judge-imposes-gag-order-trump-bragg-hush-money-case
Bazinga indeed!
3b, I disagree.
Bergen does have land to build, but for the most part. Single family will be north of 1Mil and the rest of it it is condo maximization. That’s the economies of scale for the builders these days. No one is building tracts of single family homes inside of the 287 corridor. I think you will see more industrial conversion of places like East Rutherford and office tracts along rt 17. Hackensack is leading the way.
As to Bergen getting dirty. I spend a lot of time in Union County. I’ll take Hackensack over Rahway in a heartbeat. Westfield and Co, I’ll still take Ridgewood. We see a lot of Bergenfield knocking, I don’t get that. Again I’ve seen parts of Montclair that look worst. Lots of Fanwood, Scotch Plains are still rocking storefronts that look like they haven’t been updated since the 60s.
3b-
I’m not defending (or criticizing) Bergen, Don’t know whether it’s better or worse than it used to be. Don’t know (or care) why people choose to live there. Just saying a lot of people DO want to live there, otherwise they’d move out, and housing prices would be falling, not rising.
As for Bergen being fully built out for single family houses, a lot of the county can handle smaller houses on smaller lots. All of the county can handle row houses. Not to mention multis, condos, or apartments (there’s no reason why single family houses should be the dominant housing option).
IMO, no place in NJ is “built out” until it looks like Jersey City (at least).
You say you doubt that towns will change their zoning to allow. Well, that’s kind of my point- zoning resticts the number and types of housing units.
BRT and Lib-
Nobody is “trapped” in their career or their mortgage. If they say they are “trapped” what they really mean is “I can’t find a housing/job/school/lifestyle compromise that’s better than the one I have now”. So even if they don’t really like Jersey, they still want to live here (even if it’s because of the other stuff).
You feckers better not move down near me. NO BENNIES!
The real question about Bergen County is value. 50 x 100 Cape with dormers to blow it out to 5 bedrooms on a very busy road for $850,000?
Heck look price reduced now only $750,000
https://www.zillow.com/homedetails/297-E-Clinton-Ave-Bergenfield-NJ-07621/37852696_zpid/
Bergen county is really no different than the rest of the state. The permits tell the story Bergen County built 647 mixed use housing developments from 2010-2020.
That is allot of condos and apartments. Like the rest of the state they have up zoned everywhere to meet low income housing requirements and to preserve the tax rolls by converting commercial land to residential.
Most building permits statewide are now 2/3rds multi family, Bergen is no different.
You want the white picket fence? Guess what you have to pay $775,000 on a busy road for a 1940s Cape Cod.
https://www.co.bergen.nj.us/images/Departments__Services/Planning__Engineering/bergen-county-master-plan/adopted-docs/land-use-housing_part-1.pdf