Jersey City Market Avoids Meltdown

As housing markets across the country squirm, reeling from a credit crunch and overall slowing in demand for new homes, Jersey City continues forward with little impact.

Toll Brothers recently rated its Hoboken and Jersey City / City Living Division a B+, reports Alley Insider, and by contrast, the rest of the state gets a big fat D.

The Real Deal reports that so far there have only been a few foreclosures in Jersey City. But with thousands of units on the drawing board, The Real Deal also warns that while Jersey City's strength comes from its close associations with Manhattan, it could also spell doom for the local market since many buyers on the western banks of the Hudson are those who can't afford Manhattan-- and thus more likely to be at risk in an economic slow down.

So far though, credit and recession fears don't seem to be slowing the pace of construction at Jersey City's largest developments.