Wednesday, September 13, 2006

What about South Jersey?

From the Courier Post Online:

Study: S.J. good place to live

South Jersey is one of the best places in America to relocate -- but not retire, according to a study by the Retirement Solutions Foundation.

Based on a healthy job market, relatively affordable housing and good quality of life, the area ranked third, behind Phoenix and Orlando, Fla. Three of the six areas on the list are in Florida. Madison, Wis., rounds out the picks.

The rankings were based on statistics from the National Association of Realtors, the Places Rated Almanac and the Milken Institute, a California-based economic think tank.

Jane White, president of the Morris County-based foundation, said people who live in the six markets will do well to sell their homes when they stop working and move somewhere less expensive.

"These aren't places to retire -- they're places you live and work now so you'll have a market for your home when you're ready to retire," she said.
...
"Housing has been appreciating at a good pace yet but isn't overpriced," she said. "But a lot of people won't be staying here when they retire because of the taxes."
...
Hamilton plans to travel to France and then likely to Charlotte, N.C., when she retires.

"People can use the equity they have in their homes and wind up with a good quality of life," she said.

13 Comments:

Blogger thatbigwindow said...

"Housing has been appreciating at a good pace yet but isn't overpriced," she said.

LOL!

9/13/2006 06:39:00 AM  
Anonymous Anonymous said...

well, remember, this is SJ... the median home price is 'still' under 200K...and the gap btwn median incomes in SJ versus NJ is not that large... so, i think the article is fairly accurate.

9/13/2006 06:43:00 AM  
Anonymous Bottomfeeder said...

"People can use the equity in their homes and have a good quality of life."
Hope you haven't bought within the last 5 years or so. Good Luck.

9/13/2006 08:00:00 AM  
Blogger thatbigwindow said...

Anon:

Don't forget about the runup in prices in the last 5 years. South Jersey went up as well and were not immune to the RE Bubble. IMO, SJ still overpriced..just like everything else.

9/13/2006 08:02:00 AM  
Anonymous Anonymous said...

I live in South Jersey. $200K? Give me a break. The houses in Camden are selling for that! Try $350K for a modest home in a remotely desirable area.

Prices here doubled in the last five years, while salaries have remained relatively flat. There are no fundamentals to justify this run-up.

9/13/2006 09:47:00 AM  
Anonymous Anonymous said...

ok,ok...easy on anon (me). i hear you... prices are up... just trying to say the situation isnt as bad in SJ as NJ.

perhaps we should all be more concerned the article's subject's lifetime ambition is to go to france...and then north carolina?

LOL.

9/13/2006 10:30:00 AM  
Blogger thatbigwindow said...

I have nothing but love for my fellow bubble bloggers

9/13/2006 10:53:00 AM  
Blogger yo me said...

i bought my second home brand new 2,400 sq ft in egg harbor twp. for $260,000 2 years ago they sell for $360,000 now.if you guys are correct with anticipated prices going down,maybe you can get one for the same price or less.10 min from the water 15 min from ac

9/13/2006 12:35:00 PM  
Anonymous jay said...

"The only thing worse than not being able to afford a home is owning a home that's so pricey there's no market for it," she said.

So let me get this straight. She has a home bought twenty five years ago for 15% of current value and can't sell because she is asking too much, and that is worse than people who can't afford to buy at all. That's really sad.

9/13/2006 01:36:00 PM  
Blogger kevin said...

What do you guys think about prices in the Hamilton/Lawrence/Bordentown area? A lot of houses that were less than $150k two or three years ago are selling for $249k now but there are still a lot selling in the low 200ks if you look hard enough.

10/18/2006 11:48:00 AM  
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