Horror Stories from New Jersey Homeowners

Alex DeCroce has a great piece relating horror stories of people that are losing their homes, not because of the housing crisis and financial crunch, but because of insane property taxes caused by gross mismanagement of New Jersey government.

Marilyn from Oxford says she and her husband had to sell their home of 10 years. Why? “We never missed a payment or have ever been late [but] because of unreasonable property taxes we were forced to sell before the situation gets any worse.”

Mary and Bill from Marlboro are in their 60s. “We are losing our life savings,” they say. “Luckily we don’t have a mortgage. We haven’t gone on a real vacation in 10 years. The most we do is visit our one son who is serving our country in the Coast Guard. Property taxes continue to rise, and there is no way we will be able to stay in New Jersey.”

There are more in his article. And the consensus is that Corzine’s inept leadership is only exacerbating the problem. If this trend continues, the only people that will be able to afford to live in New Jersey are rich ex-Wall Street tycoons, such as Corzine himself, and the poor living on social services.

And if you are amongst the working poor, unable to afford to leave the state, it gets more likely every day that you will soon be joining the ranks of the latter.

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One Response to “Horror Stories from New Jersey Homeowners”

  1. Great article, thanks for the information.

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