Re: So much for all of you folks who predicted a JC/NYC RE Crash
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Newbie
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The last downturn went from roughly 1988 to 1996 and there were a number of Jersey City residential projects famously underwater.
To state the obvious, real estate investors and developers are more stupid and corrupt than the average business person. Brokers are even worse. This may heighten cyclicality. The underlying economic fundamentals in the downtown JC market haven't changed much at all in recent years, and they're only likely to slowly deteriorate along with those of downtown Manhattan. Another obvious point: Jersey City is mostly a rat-hole.
Posted on: 2007/3/6 1:56
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