Housing here in NJ is expensive because we have the highest property taxes in the nation; whether you rent or own, you’re paying.
The taxation on businesses is what is killing them; Mercedes moved its HQ from NJ to Atlanta recently, and those types of jobs are not coming back any time soon. The homes in the area of that HQ often have property taxes of more than $20K; I suspect many of those lost jobs resulted in foreclosures. You don’t just find another job like that very quickly here (if ever), and nobody else can afford to buy your home.
No where in that article is the t-word used. Go figure.
The taxation on businesses is what is killing them; Mercedes moved its HQ from NJ to Atlanta recently, and those types of jobs are not coming back any time soon. The homes in the area of that HQ often have property taxes of more than $20K; I suspect many of those lost jobs resulted in foreclosures. You don’t just find another job like that very quickly here (if ever), and nobody else can afford to buy your home.
Yeah, recent grads aren't the only ones leaving NJ.