Hoboken Slowdown

I spoke with a mortgage broker over the weekend who primarily works in Hoboken and Jersey City. He said that the market in Hoboken has slowed dramatically over about the past two months and that inventory is growing there pretty substantially. A slowdown in the number of sales in Hoboken is not good news for the Jersey Shore, since the people selling there are often married couples who have outgrown their starter condo with the birth of their first or second child and are looking for larger houses further south or west. In other words, if you can’t sell the Hoboken condo, then you can’t buy the Lincroft ranch.