Bubble Wrap
Entry
Jersey City's Boom Is Set Back
The Wall Street Journal reports on the ascension of Jersey City and what ramifications the current economic crises could have on real estate and development.
The biggest residential boom in the Garden State city’s history brought in thousands of residential units in recent years, and another 72,000 could come by 2050. Big brands including Trump, Toll Brothers Inc. and Hovnanian Enterprises Inc. have put their stamps on the burgeoning skyline.
The boom, however, comes as the worst housing correction in decades has turned into a credit crisis that has seen some of the financial sector’s most storied names, such as Bear Stearns and Lehman Brothers, crumble along with thousands of white-collar jobs.
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posted about 13 months ago
