“I’ve lived here since 1969 never had kids in the schools and cheerfully write my property tax check to subsidize the children of others. When I retire, the LAST place in the world I would move to would be an apartment next to the train tracks. I’ll head south to FLA, so NJ can’t pick the pocket of my multiple 7 figure estate. (when the state inheritance tax was repealed *partially* it allowed only children and spouses to benefit. Since I have no children, its going to friends kids who would be taxed. It AINT HAPPENNING. As usual those of us without children get screwed by the state of NJ, with school taxes when we are alive, and with estate taxes when we croak.
Those apartments will be full of temporary 8 year residents who cant afford a down payment on a house.”
Someone without kids is essentially “screwed” in any scenario of downsizing. I would think the target audience for these apartment homes would be divorced dads who want to stay close to their kids and the mom got the big house. Perfect! Let’s assume the rental range is about $3k for rent? Those certainly aren’t the poor. Plus it is still cheaper than a shoe closet in NYC.
We are witnessing the set up for the
Next housing crash.
Building Apts ontop of Santas Concrete Sleigh /
aside a roaring train operation is not
A good business plan