file photo by Boyd Loving

June 14,2018

the staff of the Ridgewood blog

New Caanan  Ct, Realtors in New Caanan, Connecticut, where celebrities and CEOs live side-by-side on well-kempt estates, are so worried about the housing market that they have taken the counter-intuitive step of banning “for sale” signs.The Board of Realtors in New Canaan, Conn., where Harry Connick Jr., Paul Simon and NBC newsman Brian Williams have homes, voted to take down all such signs by July 1, and the Town Council could make it an ordinance after a six-month trial period.
Like New Jersey high taxes and a weak job market is pressuring many residents to seek greener pastures  else where.

Connecticut has the third-worst credit rating in the country, and its deficit has reached nearly $5 billion. According to a 2017 estimate by the Pew Charitable Trusts, the Nutmeg State only has $240 million in its ‘rainy day fund’—only five states have a smaller cushion.

Connecticut like New Jersey has hemorrhaged corporations under two-term Democratic Gov. Dannel Malloy, who announced he would not seek re-election this November. Insurance giant Aetna, which was based in the state’s capital since 1853, moved in January to New York City. And General Electric left its headquarters in Fairfield in 2016 after more than 40 years.