Why Are So Many Houses for Sale in Ridgewood?

This is more of a question than it is a post, and I’d love a better answer if anyone has one.
I’m a little freaked out.

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On every block in Ridgewood, NJ, there are several houses for sale. It is starting to feel a little eerie. Does everyone know something I don’t know? Awesome for the realtors, but what about the town and our property value? When I was looking in 2005 and 2006, inventory was scarce. Things have changed, and clearly we are now in a buyers market. Why?

In addition to just your normal turnover (empty nesters, separations, job relocations, etc.) my best, uneducated guesses:

— New tax laws, making the cost of living here unaffordable
— Fear of the impending apartment development and the subsequent overcrowding in the schools
— To get away from the ever-increasing traffic and congestion
— General trend toward downsizing and (smart) aversion to becoming house poor
— It has always been like this in the spring, and I am just noticing it because I’ve had my head buried in the lacrosse/soccer/carpool/hell sand every year prior.

What is it? Any ideas? If there is a secret, please let me in on it.

 


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Author: Karen Latimer

Dr. Latimer is a Family Physician and Wellness Coach. She helps clients with parenting issues, the challenges of college and young adulthood and issues related to health and habits. Email her at drkarenlatimer@gmail.com to learn more. She is the author of the Audible Original, Take Back the House -- Raising Happy Parents.

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