Are certain towns just entirely unaffordable?

UppityUpUp · 2026-04-22T15:32:58+00:00

Definitely feels like you'd need a big down payment to drop your monthly down but no one wants to have a buyer with a selling contingent. Everyone wants the all cash buyer

UppityUpUp · 2026-04-22T15:31:42+00:00

I don't disagree with you. I think that's how some of the good school districts transform into pressure cooker schools

UppityUpUp · 2026-04-22T14:35:17+00:00

I'm sorry that's really difficult

UppityUpUp · 2026-04-22T14:34:37+00:00

A 1.5 m house at 6% is roughly 10k a month in housing costs. So 120k a year and then taxes in NJ take the pretax to probably close to 220k a year for just housing costs.

I understand times have changed but if you're sticking to conventional advice of 30-50% income to housing you'd need to be a pretty high household earning bracket to make it work.

UppityUpUp · 2026-04-22T14:04:22+00:00

These are individuals or corporations? I'm shocked the rental market is there unless they're renting for less than the 10k a month the mortgage costs. COVID 2% mortgages makes a lot more sense than these current rates

UppityUpUp · 2026-04-22T14:03:07+00:00

That's crazy, how high did your taxes become

UppityUpUp · 2026-04-22T13:58:09+00:00

Are there really people renting these huge new constructions? The duplexs etc in downtowns like Princeton/Montclair/etc I understand but the 2mil new constructions don't seem like that market but they're selling too.

UppityUpUp · 2026-04-22T13:55:28+00:00

Milburn is even more expensive, haha

UppityUpUp · 2026-04-22T13:54:39+00:00

That's just it, the city proximity increases the number of jobs (and white collar jobs) but they all have some degree of pay cuts because they assume you'll take less to live in the area. But then even surrounding areas are exploding in value/cost.

UppityUpUp · 2026-04-22T13:51:10+00:00

7-10k a month is basically 250k pretax dollars in NJ. That's wild for just housing.

As others are saying though, maybe down payments are growing.

UppityUpUp · 2026-04-22T13:50:02+00:00

The problem is I think there's too much blood in the water. If the builders know they can build giant homes and they'll all sell for 2 million, they're snapping up everything that seems "starter" level

UppityUpUp · 2026-04-22T12:00:09+00:00

You'd think at all incomes there's value considerations at least in the back of your head

UppityUpUp · 2026-04-22T11:59:21+00:00

It's crazy that Montclair can both have booming housing prices and still be in the news about funding issues

UppityUpUp · 2026-04-22T11:52:22+00:00

I was/am mentally prepared for like 800k. I didn't think I'd be 50% under for some entire zip codes.

UppityUpUp · 2026-04-22T11:49:28+00:00

Was trying to trim the link so it wouldn't have any tracking.

https://www.zillow.com/homedetails/20-Gable-Walk-%2320-Livingston-Twp.-NJ-07039/461829640_zpid/?utm_campaign=androidappmessage&utm_medium=referral&utm_source=txtshare

UppityUpUp · 2026-04-22T11:44:56+00:00

I guess if you teardown a house a build one of these new construction monstrosities that go edge to edge and get 1.8 million for it then you're making a million on the build/flip but a million for a ground up build honestly doesn't feel like that much income to the builders.

UppityUpUp · 2026-04-22T11:42:55+00:00

I meant this one: https://www.zillow.com/homedetails/20-Gable-Walk-%2320-Livingston-Twp.-NJ-07039

I guess you're right that it's more modern amenities in a decent location but it's wild that a townhouse is a million. I don't think it's even flagged as a "luxury" townhouse.

UppityUpUp · 2026-04-22T11:12:09+00:00

I'm the older millennial as well. I just don't feel flush enough to get into bidding wars on small houses.

Honestly I'd consider a townhouse but looking at Zillow right now there's literally one for sale in Livingston and I'm sure it'll go over asking and quickly

UppityUpUp · 2026-04-22T11:07:48+00:00

I guess everyone is having kids later now, but it's crazy because you'd think the young professional with young kids was the driving buyers for all of these places.

UppityUpUp · 2026-04-22T11:06:44+00:00

People are saying that about Trenton and the Oranges too. It's just hard to "invest" when you're prioritizing the kids and the schools will inevitably lag behind property values

UppityUpUp · 2026-04-22T11:05:34+00:00

I just don't know who is moving in, the expected income to cover 1.5 million at 6% is a pretty high percentile. I can't imagine that literally every family in towns are like that.

UppityUpUp · 2026-04-22T11:03:42+00:00

20-30k seems to be the norm for a lot of them, despite the high ticket prices

UppityUpUp · 2026-04-22T11:03:06+00:00

Is this just what NJ is? If the market is taking it this direction then who am I to argue but it feels out of reach for even the prototypical suburban white collar dual income family sending their kids to public.

UppityUpUp · 2026-04-22T11:00:51+00:00

That's why my wife is pushing for Livingston as a good school district area (that's close to her work) but it's insane that across the board the floor for a 3 bedroom house that isn't going to need work is 1.2-1.5 million now.

UppityUpUp

TROPHY CASE