Thursday, September 06, 2007

Realty Transfer Revenue Woes

It only makes sense that with the housing market softening that dependent enterprises would have a bit of trouble also. Well here in New Jersey as in some other states we have a fee called the Realty Transfer Fee. The fee gets collected when a home is sold. In fact the fees generated 2.5 percent of the state's revenue in 2006. It is doubtful it will generate the same amount in 2007 which is why in all probability the state is going to have big trouble staying within its budget.
The article is well worth read.


For more housing information click here.

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Wednesday, September 05, 2007

Housing Sector Teaches Lesson in Economics

School is in session now and if nothing else the impact of the soft housing sector is a good lesson in the relationships sectors have on each other in a society's economy. While construction has softened along side the housing sector, exports seem to remain strong and that is helping the manufacturing sector. Even though exports is the bright spot experts are not sure it will be enough to counter the effect of the housing sector decline. The decline in consumer spending has also helped turn expert attention to debate over whether the economy is soft, very soft, or in recession. So if you didn't take economic in high school or college this is your chance to get a handle on how it all works together.
Read the article here.

For more housing information click here.

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For more information on Real Estate in New Jersey visit here.

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