Sagging revenue and a bevy of looming funding needs in the coming fiscal year threaten to pull New Jersey’s $8.1 billion surplus below a threshold that would pause the nascent StayNJ property tax relief program before it sends out a single payment.
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NJ unemployment rate up? But job growth is strong? Making sense of 2024 New Jersey economy
The strong job growth in December helped New Jersey end 2023 with a net gain of 69,600 jobs. By comparison, the state lost 303,600 jobs in 2020; added 265,600 jobs in 2021; and added 129,700 jobs in 2022; Rutgers University economist James W. Hughes said.
DRIVE TIME: The struggle to find housing in New Jersey
Dean Emeritus James W. Hughes talks about the rising cost of housing in NJ and what the future will bring.
Jersey Shore workers struggle to find middle-class homes
“We know there is a shortage, a significant shortage of affordable housing in New Jersey, but the middle class is getting squeezed as well,” said Will Irving. “And it’s getting harder and harder for young families to afford to buy a house.”
Cantor Calls Camden Coalition’s Work a Success
“It’s a qualified success,” said Joel Cantor, director of the Rutgers Center for State Health Policy, which provided data for the review. “Life is more than just not getting hospitalized.”
NAIOP New Jersey to host annual meeting, commercial real estate outlook on Jan. 25
Will Irving will present on the panel of industry experts discussing the connection between local economic trends and the state’s commercial real estate sector.
Hughes expects NJ to be Waiting for the ‘Immaculate Disinflation’
Dean Emeritus James W. Hughes said a key question now is whether the Fed’s interest rate hikes will create a soft landing with a slow-growth economy, or a hard landing that will “crash” the economy.
How Murphy says he plans to protect NJ residents from crushing medical debt
“The Governor’s proposal would certainly give relief to many in need, but ultimately governmental subsidies to those in debt are not likely to be a long-term solution,”
‘Swapping homes like stocks’: Wall Street-backed firm buys 264 valley homes in a day
“As these companies settled in as landlords, they’ve also made bulk deals with competitor firms to grow or shed their presence in particular markets. They are essentially trading with each other to enhance the performance of their overall inventory.”
West New York police earn high salaries, even more than Jersey City cops
Crime doesn’t pay in West New York, but being a police officer sure does. The working-class north Hudson town of roughly 52,000 spends nearly 20% of his annual budget, or $19.6 million, on its police department, and it doesn’t even have a police chief, according to...