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Real Estate in New Jersey
Real Estate investors have traditionally concentrated in areas of the country that had high increase in value during the last decade. These areas, which include Florida, Arizona, California, and others, have been home of most of the high end investment in real estate.
However, since the burst of the real estate bubble, these markets have shown to be unreliable in terms of real estate valuation. It is not know if the staggering prices commanded by properties in Florida nd Arizona will continue for the near future.
In contrast, other areas of the country present renewed oportunities. For example, New Jersey is a great market for real estate now, that prices are going down.
One of the main reasons to buy real estate in New Jersey is the availability of jobs. High number of jobs is the main reason for people to relocate, and this is a strong influence in the creation of real estate wealth.
New Jersey has a booming economy based on technology and services. Although some of the older areas are still suffering the decrease in manufacturing jobs, many areas of New Jersey such as central NJ have an economy based on technology.
New Jersey is home to most telecommunications companies in the country, an area that is going through a rebirth after many years of problems. Pharmaceutical companies also form a major part of the technological advantage of New Jersey.
Another strong reason to buy real estate on new Jersey is its premier location, between two of the biggest cities of US. New Jersey receives people that work in New York City and in Philadelphia. Both cities are at driving distance of most regions of New Jersey. With the job market rebounding, this means that a large number of people will be looking for affordable housing in the suburban cities of New Jersey, which present a great opportunity for investment.