According to an online publication on Philly Purge, the United States real estate market has been ailing for a long time from overcrowding. Recently, this problem has shifted to New Jersey, one of USA’s densely populated states. According to statistic from a real estate giant Patch, NJ is trailing the country’s real estate industry by having the largest number of mortgage that are in foreclosure.
As if this is not bad enough, Lawrence Yun from the National Association of Realtors suggests that the situation in New Jersey if not checked pretty soon will go from bad to worse. According to him the housing situation will turn into an emergency if the gap between house supplies and demands continues escalating without be controlled. Economists around are pessimistic about the situation and further fuel these claim with the fact that the costs of building materials have already dropped in the market.
However, despite all these indicators of a poorly performing market, there is still hope as New Jersey is on a path of rebirth. Part of the reasons for these early celebrations is the projection that homes within this market are expected to appreciate. This situation will directly affect the conditions in the market seeing them improve. Secondly, the New Jersey market is geared up for some game changing properties developments. With established real estate giant companies such a Boraie development joining the market it is only expected that the face value of the sector will change. The last and most crucial factor that is projected to be the turning point of this market is its location. According to Yahoo, most of NJ cities and towns are a few meters away from railway lines. With this strategic positioning of the market, it is expected that more investors will be interested in developing the market as they will be guaranteed of their investments.
About Boraie Development
Boraie Development is a real estate development company established over 30 year ago with a reputation of developing high end properties. Founded by Sam Boraie, Boraie Development has been able to learn all the tricks in the book and now offers comprehensive services to its client from financing to development. In the span of three decades Boraie Development has been able to offer excellent services to its client base but currently it has established itself as the force to reckon with when it comes to all needs urban real estate market. Like most established industry giants Boraie Development prides itself in caring for its community and it has generously contributed to a number of philanthropic activities. Visit boraie.com for more info.