By Joseph R. Nicholson
New Jersey is facing significant economic consequences because of the lack of economic incentives available to ensure companies choose to move here or stay here. At a time of economic pressures not faced since the Great Depression, New Jersey has unilaterally chosen to back off offering incentives when the other 49 states are going in a different direction. The consequences are substantial in what is the first analysis of the state’s economy following the pandemic.
We have only begun to experience the ramifications of COVID-19 with respect to New Jersey’s real estate markets and the economy as a whole. As some analysts try to project what vacancy rates and valuation losses will be, the reality is that we do not know