New Jersey real estate

New Jersey, which is considered to be the most liberal state in the United States, is also the most densely populated, considering the per capita area.  Since it borders New York from the South, and with Atlantic City gaining popularity, it is also considered to be the center of the Boston to Washington megalopolis. It is also a state where all counties have been deemed urban, and though it has among the highest per capita incomes in the country, it also has Newark and Camden which are among the two poorest cities in America.

The New Jersey Real Estate market has also been hit by the housing bubble in the rest of the country; most people dream of owning houses which are slightly larger and more expensive than what they can actually afford. With the proximity of and access to the sub-prime market, people were wooed into taking loans they could ill afford, and even the ones in which the payments were renegotiated were too good to be true.  Speculators have been hit the hardest, as their hope of being able to sell off their homes at much higher rates has been shattered.

But all hope isn’t lost; especially if you are looking to make use of this opportunity to own a home in New Jersey. In Belmar and Atlantic City, there has been no appreciable decline in prices. Atlantic City, which until recently sold modest houses, is now also offering luxurious condos, which are considered attractive due to their location close to the shore.