Bubble?

I’ve noticed a few of these signs going up more and more both in Hoboken and surrounding towns.

Sign of things to come?

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3 Comments on "Bubble?"

Mel
Member

Speculators are actually terrible for Hoboken values – they artificially prop them up to a level that’s not sustainable and then when they leave the market, they leave real owners holding the bag of falling values. You can’t just have people flipping condos. What you want is residents who are living in their places for decent amounts of time, so you can have people who care about the town, schools, etc. It’s the only way to really have improvements.

Katie_Scarlett
Member

I’d worry about this. In Philly, people from NYC (foreigners a lot of them) are buying houses cash and then renting them to scuzzy people. Good neighborhoods are being ruined by absentee landlords who know if they get low-end tenants they’ll be able to get away with letting the houses fall apart (and make money doing it). That type of situation would NOT be good for Hoboken.
On the other hand, it could be speculators, which IS good for Hoboken property value.

willow
Member
willow

I noticed this sign too. But signs like these have been around in other parts for a while. There is one that makes me laugh that says We buy ugly houses. I guess for people that inherit those family 70 style houses and have no idea what to do with them.

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