Selling your New Jersey home? Where NJ residents are moving to (Opinion)
Home sales have slowed in NJ after a flurry of activity for the past few months. According to many of my friends in the real estate business, homes were "flying off the shelves" and in some cases being sold in just hours after listing.
Anecdotally, many of the buyers were city dwellers escaping New York City and Philadelphia opting for a safer and easier lifestyle in the Garden State suburbs.
So where are all the sellers going?
Are more people upsizing or downsizing and staying in NJ? Are they leaving the Garden State for less expensive states where freedom still flourishes?
Spending time around the nation this summer, it seems that just about every other state is freer than NJ. Less "masky" and allowing citizens to actually choose whether they want an experimental jab in their bodies. Imagine, having choices when it comes to masks, jabs and not facing threats from the government and employers if you don't submit to their will.
My guess is that many Jersey residents have already fled the growing tyranny in NJ. The question is where are they all going?
According to my friends at NJBIA, of the $30 billion in adjusted gross income that has left the Garden State between 2004 and 2018, half went to New York state. Imagine how bad it has been in NJ for NY to be the tax haven?!? But that was before the lockdowns. Now it seems most are heading out of the state and the region.
Where are you headed?
The post above reflects the thoughts and observations of New Jersey 101.5 talk show host Bill Spadea. Any opinions expressed are Bill's own. Bill Spadea is on the air weekdays from 6 to 10 a.m., talkin’ Jersey, taking your calls at 1-800-283-1015.