Saturday, December 03, 2005

Shore Affordability

The National Association of Homebuilders & Wells Fargo released their third quarter affordability statistics yesterday.. I briefly discussed the fact that Northern NJ made the top ten over at my blog, but I want to take a closer look at what is happening to affordability at the shore.

NAHB Third Quarter Affordability

First a bit of a primer on how this data is broken down. The federal government defines a set of areas called Metropolitan Statistical Areas (MSAs). The MSAs we are interested here are the following:

Edison, NJ MSA
Somerset Co.
Middlesex Co.
Monmouth Co.
Ocean Co.

Atlantic City, NJ MSA
Atlantic Co.

Ocean City, NJ MSA
Cape May Co.

Third Quarter Affordability
170 MSAs from across the country were ranked from most to least affordable (the higher the number the less affordable)

Atlantic City MSA - Ranked 121
Edison MSA - Ranked 130
Newark-Union MSA - Ranked 140
New York-White Plains-Wayne - Ranked 161

Caveat Emptor,
Grim

2 Comments:

Anonymous "atlanta" said...

An Amish boy and his father were visiting a nearby mall. They were amazed by almost everything they saw, but especially by two shiny silver walls that moved apart and back together again by themselves.
The lad asked, "What is this, father?"

The father (having never seen an elevator) responded, "I have no idea what it is."

While the boy and his father were watching wide-eyed, an old lady in a wheelchair rolled up to the moving walls and pressed a button. The walls opened and the lady rolled between them into a small room. The walls closed and the boy and his father watched as small circles lit up above the walls.

The walls opened up again and a beautiful twenty-four-year-old woman stepped out.

The father looked at his son anxiously and said, "Go get your mother."

"real estate"

Saturday, December 03, 2005 9:03:00 PM  
Anonymous Anonymous said...

Hi - I was searching for blogs about associations and found yours. Reason I was searching for associations is I have one and I'm looking for ways people run theirs.

Thursday, February 02, 2006 2:43:00 PM  

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