Mary Grunmeier

Employment

Housing Seminar with Jobs Spillover news

So, I went to this seminar today, and it was all about housing in NJ (I'm a real estate agent) but there was a real focus on jobs. NJ has been losing jobs hand over fist for many (10+) years. Companies move out of the state because of the unfavorable tax situations. The real job growth in the state has only been government jobs for about 10 years. (With their odious healthcare and pension responsibilities.) On the other hand, high end corporate jobs that have left the state are being replaced with lower-pay jobs. So, in reality, the net job loss is about 14,000 over the last 10 years, but the high end jobs are not being replaced at the high end.

This means that homes priced at a million dollars or more and especially at 2.5 million dollars or more may never sell. So what do you do with them? Interesting question.