So when the housing market is down, what are the good investments? Apparently in New Jersey its housing near commuter rail stations. Easy access to transit and less housing cost is where people are going. According to realtors:
Homes along many of Central Jersey's commuter rail lines have a better chance of being sold than residences in more rural or suburban areas, according to real estate experts and housing statistics.
That's one of the conclusions drawn from a study of the sales numbers, which paint an uneven -- and depending upon where you live, unsettling -- picture of the Central Jersey housing market.
In some towns, the market is actually improving over last year, while in other areas, homes are languishing on the market even longer than in 2006, when the real estate bubble burst in earnest. Prices began to get soft in August 2005.