According to a recent article published on a popular news site, the Philly Purge housing has become a concern in New Jersey. The surge in the real estate market is moving to New Jersey posing a threat to the housing rebound in the area. New Jersey has also recorded high numbers regarding residential mortgages on the brink of foreclosure. This has left the state behind the rest of the country regarding real estate markets.
The foreclosure rates are however dropping. This indicates a brighter future for the sector as shortage and affordability issues are being worked on. With the gap between housing demand and supply widening, housing shortages are poised to intensify. Compounding the problem is the practice of holding off housing by homeowners from the market to capitalize on future high pricing. New Jersey’s easy access to the transport system makes it a lucrative destination for home seekers.
Ease of transit has also been a key contributor to the recent surge in housing prices in New Jersey. Consistent job creation is also bringing out a similar effect on the pricing. However, experts believe high-interest rates a high housing pricing will lead to more houses back into the market. On top of that mortgage rates have remained low making it more available. This will, in turn, ease the pressure on housing in New Jersey.
Given the impending crisis, there are several developments in place and firms working to improve the current state of affairs. Boraie Development is one of these firms. It is among the top property development firms in NJ. What makes it successful is the fact that it is primarily privately funded. The firm also ensures it partners with strong financial institutions as well as the best contractors and architects.
About Boraie Development
Boraie Development is a New Jersey based property development company. It is best known for working on scalable projects targeting strategic urban development. In 2007, the firm completed its first residential development in New Jersey against all odds. The building was 25 stories with 121 housing units, 400 units of parking space as well as retail and office spaces. This became the tallest building in New Brunswick Town.
The firm deals in all aspects of urban real estate ranging from marketing and sales to property management and real estate development. Timeliness and quality are what sets Boraie apart from the rest over their three-decade presence in the market. Boraie is currently tasked with abating the impending housing crisis in New Jersey. You can search him on Yahoo for more info.