Reporting Ginny Kosola
JERSEY SHORE, NJ (WCBS 880) – The dream of living at the Jersey shore could be a reality for more people after years of declining prices have made coastline properties more affordable.
Living near the ocean at the Jersey shore was out of reach for many families during the housing boom, but a new study from the University of Pennsylvania finds some of those properties are now in the reach of younger home buyers and more of the middle class.
WCBS 880′s Ginny Kosola reports: Younger Buyers Looking At Jersey Shore Homes
During the boom, coastline properties in New Jersey saw an even greater appreciation in price than other areas. As a result, some of those prices are now down anywhere from 15 to 40 percent. Buyers are scouring real estate websites to find the bargains.
Researchers say part of the reason these properties went on the market is that so many of these beach-area homes are second-homes, which owners are more likely to sell when times get tough.
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