Luxury apartments
The Woodmont Liberty Luxury apartments in Independence just sold for 43 million dollars. Do you think this will help the community? NJ.com did not say who bought it.
John W. 
EVV There are real estate taxes & fees paid to the County in a real estate sale, so I would guess that our County would benefit somewhat. Not sure if the municipality gets anything. That would be Independence Township.
Lonesome Dove No. All of these "luxury apartments" are going to devalue everything around them and bring in scum.
Eddie At $3,000 a month, scum?
Think the traffic coming off Bilby will be horrendous. Did the town make road improvements part of the deal? 517 light, five corners debacle, guess only trade zone might be ok. Only a few ways in and out of there for what, 1,000 to 2,000 commuters for both the new apt complexes going up. The other one looks like a college dorm complex. It’s huge.
Think Independence screwed h-town on this one. Maybe payback for the cvs housing nightmare. Rural my sweet billydoots.
Babbit Now we are suburban, not rural anymore, "The sale of Woodmont Liberty Apartments underscores the robust demand for high-quality multifamily assets in well-located suburban markets."
OnTheEdge There is no such thing as luxury apartment.
Sure- there are 'nice' apartments... but the term itself is a falsehood and marketed to people that want to pretend.
Same for 'high quality multi-family'.
Don't even get me started on the fact that 'asset' was used in the same sentence as apartment.
Josh Wish they built some apartments that the average person could actually afford. Single people can't do it on one income. Many 2 income families till can't especially if they have a child.
Seniors, forget it! It's very sad that's all I can say.
Joyce Problem is-
All housing....all anything...is sold to someone.
Anything someone sells to someone else- that someone has the capital, time, brains, means, to have- they understandably want to make some profit to give to someone else.
Nobody works for free - either physically - mentally - or time.
When you say 'the average person can afford' you need to understand statistics- and your 'average person' is well below 1/2 on a scale once you factor in high to low.. if you nip the ends off.
The reality is- yes it is getting harder for your 'average' person to afford to live- but if you looked at the physical work effort / skill / output- and most importantly- value to an employer of a 'average' employee 50-60-70-80-90-100 years ago... those people did much more work, with much more skill or effort...with much less comfort of life to show for it.
We are currently in a society of people that were sold a bill of goods- go to college- you will have a good job / life- and instead they have debt and a BS degree...
People like Mike Rowe have been speaking out about this for decades...
Anyone that can't earn their way...needs to find a way to make themselves of more worth to an employer, change fields, start their own business...etc... knowledge & work = worth.
It's not the employer's job to judge your worth- it's up to you.
If you are worth more- another company will hire you.
If not- improve your value.
And if you don't like the cost a house / apartment / item costs- but others are willing to pay that rate - you are the issue- not them.
I'm sure people will say harsh- but reality is reality- in an ideal world- no prices will go up- nobody will charge for their efforts / time / knowledge- but understand all those people are paying more for the stuff they have to deal with to give you what they want.
Josh get a heart and do not be so nasty to Joyce and her comment. She makes a lot of sense as you can have a lot of money and some of these apartments are too much.
Don’t write a big thesis and stick to the facts and have some humanism and compassion for people.
mangomustgoStatistics prove Josh wrong many times over. You can go broke with a college degree just as you can get rich without one. But, on average, college educated make more money.
Sure, life’s tough, always has been. But compared to our parents, the greatest generation, we have it easy. They built it. We CAN do better.
Statistics say NJ is smarter, richer, safer, than most states. But high property taxes drive fixed incomes out. No state for old men, but great for smart folks starting out wanting higher pay, better schools, and better safety.
Statistically, college grads make more than hs grads and advanced degrees more. The same story Josh tells was told to me in the 70’s. My degree seemed useless, I started in construction. Low n behold, even there the degree mattered and I was anointed a site manager role. Then white collar, advanced degrees, many hours, wife on same track and we did better than parents. I do not think I beat the odds, I think I was just slightly better than average.
My father exited high school, got married, went to war in France, wounded, wife dies, and he comes home. My FIL gets married in nyc, returns home to Italy to protect mom and four sisters behind the lines, years pass, wife declares him dead, returns to usa.
Somehow Josh’s cruel world seems pretty easy in comparison. Go to school, work hard, invest wisely, and you will do ok. NJ is still a fantastic place to work and raise kids.
Joyce is right.
my first apartment many decades ago cost me $300 a month. I was making $8.50/hr at the factory job. so simple math says I paid my rent with about one weeks pay.
a one bedroom apt at Towpath for example is $2000 a month. simple math based on a 40 hour week says one needs a $50/hr job to pay the rent in that same one week period that my average paying job did way back when.
there aren't too many $50/hr jobs for the average person.
CBGB Sounds about right. So, either two weeks or add one roommate. My parents had one working. one working at home. We couldn’t afford that in money or spirit, so we both worked. Problem solved. still had clean house, washed clothes, day care. just had people for that, not wife.
Ended up on top with more and like the lifestyle.
Things can, we can too.
I already expect my kids to beat me; one bought house younger than I.
It’s not all gloom and doom, but can’t plan the new game the same old way. Things change.
My mother’s family started with three families, over 20 kids. one house near Scranton. Wonder what rhey said about all this stuff.
Well
Plumbers, electricians and carpenters can easily make $50/hour
Sometimes the trades pay better than college
Leave a Reply
To comment on this topic, fill out the form below. If you would like to comment directly to one person, you may click on the envelope next to the posters name if they provided their email.