Will Hoboken Real Estate be impacted after Hurricane Sandy?

Hoboken411 reader showme789 had a compelling comment recently (in the “Rebuilding in Hoboken” thread). We thought it was worthy of a top page story, and further discussion.

How will Hurricane Sandy affect Real Estate? Especially in the low-lying areas prone to repeated flooding time after time, year after year?

Is Hoboken no longer the “gem” on the Hudson?

“Looking back at the last two weeks, I find myself wondering if Hoboken, the gem on the Hudson is finally losing it’s luster.

Flooding is not new to this town, albeit never to the extent we saw on 10/29, but when you think about it, anytime there is a bad coastal storm we could go through this again and again.

How much can people take before they realize that Hoboken really is an over-priced, low-lying dangerous place? I feel for all of us and I hope we can all move on soon. It wouldn’t surprise me though if many of us not only move on, but also move out.

The scary thing is that damage done during this storm to many of the buildings in town won’t really be felt for a long time to come.

Will Realtors be forced to tell clients that the condo they are selling was under water? Or that the home they are showing may have suffered structural damage? I would hate to see a new generation move here and have to deal with undisclosed health and safety risks. It’s sad to say, but I’m afraid there will be thousands of condos in town that have just lost their value.

Let’s hope FEMA takes a good look at Hoboken and puts a stop to the madness of developing in flood zones.”

Note: I spotted this interesting book along Garden Street yesterday. A very spooky title considering what we’ve been through recently: Death in the Floating City” by Tasha Alexander.

Hoboken NJ

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