And that could change tomorrow or in 10 years for New Jersey.
Unless of course the dice being rolled are loaded....
No, it's fairly predictable. The RE market goes nuts for five years and then levels off. In NJ there is only SO MUCH you can tax people. The L&B assessment is at an all time HIGH. Plus we just added a 7% tax to fund all the pork we routinely indulge in. So with that in mind, real estate is sitting. Till there is some property tax relief and this 7% tax is removed, I don't see the market recovering as quickly as it did in the past. More people are moving OUT of NJ than moving IN NJ. In the Spring, We hope to join the exit. We've got the highest property tax in the nation! Eventually even the Demoncrats will do something about it.