The real estate industry in the state of New Jersey is going through a housing shortage. There have been numerous homes on the foreclosure lists, and many more are expected because of mortgages that are delinquent. The entire state is in turmoil due to the falling real estate industry. The shortage not only include homes, but available, and affordable housing for many of the residents who did not own their homes. If this trend in the housing market were to continue, the state would be in dire straits in the housing market.
It was published by Philly Purge that many of the towns in New Jersey are getting ready for a change in the form of the development of thousands of new housing and apartments. The prices of these housing units have risen astronomically within the span of a few months. The one positive attraction for potential home buyers is that most towns are easily accessible to the New Jersey Transit station. Economists are predicting that more homes will come into the market because the prices will be lower, and the expected interest rates will be higher. Some New Jersey towns are seeing high demands for housing, with incredible inventories in those areas.
According to WSJ, many development companies and contractors are hoping to rebuild and restore the New Jersey real estate market, but one development company is looked upon to improve the real estate situation. Boraie Development Company has a twenty year track record as being the most sought after real estate developer in New Jersey. The company transformed the city of New Brunswick into a picturesque show place with an array of office buildings, and high rise condos and apartments. Boraie Development also got the resort area of Atlantic City back on it’s feet with an amazing two hundred fifty unit apartment complex. These efforts were successful in enticing people and businesses to those areas.
Boraie Development uses it’s own private capital as the funding source for many of their construction, and contractual projects. The specialty of Boraie Development is to create projects that will attract financial partners, tenants, and residents who may be willing to form long term relationships with the company. The President of Boraie Development is Sam Boraie, who, with his son Wasseen Boraie as Vice President are master minds of the construction and real estate industry. They are committed to making towns in New Jersey thrive again. You can search on Yahoo for more.