Urban NJ Rental Market

[Ingrid Nagy]

I have to honestly say that I can't even remember the rental market being this way in the last 20+ years. I see signs for vacancies down every street I drive. Competition is fierce. We are all lowering rents, offering free rents, accepting rent subsidy, etc. There are lots of lookers but very few takers, particularly in smaller size units.

I had thought that I'd seen every possible "teaser" to attract a tenant out there. This week I saw four ads offering 32" flat screen t.v.'s with a newly signed lease! Where is everyone going?