2008 Sep 27th

Who Will Better Address the Hoboken Housing Market Issues? Obama or McCain?

Zillow Survey Says Obama Will Better Address Housing Market Issues Facing Nation

Even if the Hoboken real estate market is not facing the sort of dire straits found in places like Florida, it’s still interesting to see what peoples’ perceptions are on which of the candidates will better handle the housing market mess.  Here’s an interesting Zillow blog post on the subject.  It seems the answer given depends in part on whether the respondent favored Obama or McCain.

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  1. Rob

    According to BusinessWeek, yesterday online posting, Hoboken will be the the third town hit hardset by financial crisis to follow Daren CT and Bloomington, Ill…

    http://images.businessweek.com/ss/08/09/0925_crisis_towns/4.htm

    What do you have to say as a real estate agent? It seems like Hoboken looses its immunity…

  2. Lori Turoff

    Sorry for the delay in your post, Rob. I don’t disagree that Hoboken will be affected by any downturn that hurts Manhattan. The severity of it, however, is yet to be seen. People still need a place to live. They get married, have kids, transfer for jobs, move to this area for a job, etc. If the fundamental reasons why a neighborhood is attractive are there (good transportation, services, lifestyle)there will be a demand for housing. In our case I believe people who cannot afford Manhattan, like perhaps some from the financial sector who have found new but lower paying jobs or with smaller bonus may still turn to Hoboken as an alternative.

    – Lori

  3. Heidi

    What was the reasoning that Hoboken should be hit harder than, say, Manhattan? I would have thought that the bankers who bought the super expensive condo and who now cannot afford the payments might actually opt to get out of the city and settle in NJ or Brooklyn while they get back on their feet. No?

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