For the next few weeks, we will be taking a look at some of the common views on njrereport and why they are wrong.
The first one:
1. "No market is immune to the 'correction'"
Really? Funny people should think this, since the NJ Gold Coast is seeing soaring property values:
New Condo Complex Sets City Record for Penthouse Sales Published: August 13, 2007
By Kelly Sheehan, Online News Editor
Jersey City, N.J.—K. Hovnanian Homes has sold two penthouse condominiums to one buyer for $6 million. The units are part of 77 Hudson, a new condo complex located in Jersey City, N.J.The sale sets a new record price for a penthouse sold in the city. The penthouses, on floors 48 and 49, total 4,188 square feet.
http://www.multi-housingnews.com/multihousing/content_display/industry-news/e3i06aa97b6b0ab3a95adb63b0282528006
Perhaps the renters on the blog should learn to do some fact checking BEFORE they make their claims.
Subscribe to:
Post Comments (Atom)
2 comments:
The Gold Coast has lost its glitter.
Malinvestment. An investment in wrong lines which leads to capital losses. Malinvestment results from the inability of investors to foresee correctly, at the time of investment, either (1) the future pattern of consumer demand, or (2) the future availability of more efficient means for satisfying a correctly foreseen consumer demand.
Thank you for leaving a comment!
How has the Gold Coast lost it's glitter? Have you been to the GC lately? There are some very UPSCALE buildings. 77 Hudson, W Hotel, Maxwell Place, etc. Heck, our governor even lives on the Gold Coast. As the former CEO of Goldman Sachs, I am pretty sure that the governor knows how to make a good real estate investment!
In addition to the sale at 77 Hudson I mentioned, the penthouse at the W Hotel in Hoboken was recently sold for $4.4 million. Not bad for a "down" market.
Post a Comment