Here in NJ it is buildings with “available for lease”, and homes “for sale”; the economy is dead, and increasingly leaving a state filled with Americans on welfare and illegals. They just announced the closing of the arena in the Meadowlands (where the NJ Devils hockey team and NJ Nets basketball team used to play) as even our “entertainment economy” (which replaced the service economy, which followed the manufacturing economy to Asia) dries up. Money for entertainment/gambling is gone, and the workers in those sectors won’t find work here any time in the foreseeable future. Mercedes is moving its headquarters down to Atlanta, so that should put hundreds more homes on the flooded market.
The whole northeast is in for a world of hurt. Many people I dealt with in banking are watching their jobs head south and west, and those jobs aren’t being replaced. It is becoming very Third World...
Sounds like it’s time for many in NJ to take a sobering look at just what the consequences might be if relocation and going into foreclosure on an unsalable house there are the only available option.