Jobs & Real Estate: What Next?

9/11/2009:

Getting worse before it gets better?

One Hoboken411 reader believes that with unemployment continuing to rise – along with many adjustable rate mortgages (ARMs) going up – that we may be in for some more problems over the next several months/years.

With NJ’s Foreclosure rates skyrocketing lately – and unemployment benefits drying up for many statewide – what do you think the short term future holds for our area?

mortgage-rate-resets

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17 Comments on "Jobs & Real Estate: What Next?"

thom
Member
thom

The way taxes and maintenance fees are in Hoboken – it’s almost not worth it to buy no matter what the trend of the rest of the country is in home sales. I am paying $17k in taxes and maitenance a year, and wouldn’t even send my kid to kindergarten in this town when she reaches that age.

plywood
Member
plywood

interest only loans? 3 year A.R.M.S.? People buying a house on the assumption they would always work three jobs and always get raises? Assuming the bubble would never burst? If people gave it a tad bit of pragmatic thought when tendering these loans……….

HansBrix
Member
HansBrix

Sorta related: remember the book…

“Why the Real Estate Boom Will Not Bust – And How You Can Profit from It: How to Build Wealth in Today’s Expanding Real Estate Market” by David Lereah?

It came out in 2005. Go check out the user reviews on Amazon. Also check out the customer tags…

epic fail (36)
worthless (13)
paid shill (11)
real estate hack (10)
snake-oil salesman (9)
kool-aid drinker (7)
criminal (5)
after the fact hilarity (1)
dow 36000 (1)
greater fool (1)
haha (1)
regrettable titles (1)
what an idiot (1)

junior1
Member
junior1

I guess when rates reset then the tools and twits of Hoboken will have to hold off on the next version of i-phone! Live within our means people! Boohoo…

checkers
Member
checkers

Homeworld is right ! Also wrong. The lag from previous administrations actions screws the new guy; Always. Obama did inherit Bush mistakes, but he isnt going about getting out of the ditch properly. Therein is Obamas contribution or lack thereof. To answer 441’s question: Beware not of the consumers problems, but the commercial shake-up. Business is about to collapse up and down Main Street USA…bankruptcy, down-sizing.
There will be the next fire to put out. The problem is just as someone pointed out about the Fed rate being zero. Gov’t is stymied. If lending rate is zero and nothing moves they are out of options. America has to make something again. Selling financial information, banking, insurance, stocks computer tech etc is all noble but you cat eat it !!! You cant eat a stock tip…..Lots of trouble coming in 2010

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