A privately owned firm in New Brunswick, NJ and established in 1986. According to records, the company employs around 35 employees and has annual revenue of around 9279614.
Boraie Development is one of the leading development firms in New Jersey led by Sam Boraie. The reason is the company uses private sources of capital as its primary source to fund for its projects.
The crisis of surging property markets in the US is shifting to New Jersey as a result threatening the rebound of housing in one of the most populated areas in the US. According to Zillow, a real estate tracking giant, New Jersey is ahead of most states in having the highest shares and rates of residential mortgages, which are extremely delinquent. However, due to this, the real estate markets in New Jersey are trailing the country. However, the dropping rates of foreclosures and delinquency are a reflection of the various impacts of the stringent post structure of households, gains of house prices and higher rates of employments. In the future, there is hope for the positive trends to continue as the real estate industry shifts focus in resolving shortages and impending affordability crisis.
According to Patch, shortages in housing are likely to increase and might turn into a housing crisis in the gap between housing demand, and shelter supplies continue to widen. Given the shortage of houses for sale and the increasing rate of selling newly built homes, the failing housing is still worrying. It means that there is more inventory yet more properties that are new are arriving in the market with urgency to sell saying things in New Jersey could go from bad to worse. According to reports, the home prices are likely to increase. Households expect the selling conditions to be better in the future.
However despite this broken real estate market in New Jersey, from the end of the great recession, some areas have shown high housing demands coupled with excellent properties. Most of these regions are preparing for developments that will change the game and new apartments. The prices have been rising. The most visible trend in these areas is the apparent accessibility to transit. Each of the areas is near a transit station, which attracts many buyers. Economists predict that a change in real estate markets is coming due to high-interest rates and lower house prices. The creation of employment will also push up the demand for homes. Visit boraie.com for more info.
In conclusion, the costs of houses – high price of rent and home is rapidly increasing. Also, the mortgage rates remain relatively low making mortgage loans more available thus easing the housing boom in NJ. You can search him on Yahoo.