Wednesday, September 13, 2006

First Suburbs Unite

From the Star Ledger:

'First suburbs' are finding strength in numbers

They are described as the "first suburbs," towns that sprang up along the borders of New Jersey's cities in the past century and a half.

They include West Orange, Caldwell, East Orange, Maplewood, Rahway, Franklin, Parsippany and over 90 others. Half of the state's population lives in these towns or in the neighboring cities.

Most are fully developed and tax-stressed. Their school systems are financially strained, their housing, roads and sewers are aging, their business districts fading and their population is becoming increasingly diverse racially and economically.

What they do not have, in the view of people who want to see these towns prosper, is one voice. A voice that can shout for the attention of the state and federal government and business.
"For decades, the state has concentrated on developing rural and exurban areas and on redevelopment in urban areas," said Michelle Loxton, an OPEN Society spokeswoman. "Comparable public sector reinvestment has not been focused on older developed communities."
He said first suburbs cannot dig themselves out or stop the cycle of decline once it begins.

"They simply do not receive the attention the center cities have justifiably deserved in this country for sometime," Puentes said. "They do deserve attention because they do need assistance."
Among the towns that are either joining the coalition or have been asked to consider it are: Belleville, Bloomfield, Glen Ridge, Maplewood, Montclair, Nutley, South Orange, West Caldwell, Highland Park, Spotswood, Clark, Cranford, Fanwood, Garwood, Kenilworth, Plainfield, Roselle, Roselle Park, Scotch Plains, Springfield, Hamilton, Hightstown, Hopewell Borough and Pennington.


Anonymous Anonymous said...

GSMLS inventory - 32,116

It would be interesting to see weekly inventory increase.

9/13/2006 05:37:00 AM  
Anonymous Anonymous said...

Foreclosures spiked in August

Rising payments on adjustable-rate mortgages contribute to 53% jump in foreclosures.

In August, 115,292 properties entered into foreclosure, according to RealtyTrac, an online marketplace for foreclosure sales. That was 24 percent above the level in July and 53 percent higher than a year earlier.

9/13/2006 05:47:00 AM  
Anonymous Anonymous said...

Ex-Chinese bank official warns on yuan
Former central bank governor says rapid accumulation of foreign reserves complicates government's possible plan to widen trading band.

Although consensus has been building that the yuan should be stronger, government economists have also warned that any rapid spike could create chaos.

9/13/2006 05:59:00 AM  
Anonymous Anonymous said...

take a look at the list. Many
are overrun with ILLEGALS,that is
what has strained the system.

9/13/2006 06:02:00 AM  
Anonymous Anonymous said...

concerning anon's 6:47 post:

"Sharga says lenders are beginning to recognize that a problem is brewing and are taking steps to address it. They are much more amenable to a short sale, for example, in which they accept a low-ball, cash bid early in the default process that may not even cover their mortgage, in order to avoid a larger loss later. That can help homeowners by preserving their credit scores and easing their transitions into the rental market."


9/13/2006 06:36:00 AM  
Blogger lisoosh said...

Hopewell needs help? It's a wealthy enclave.

9/13/2006 09:21:00 AM  

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