The number of foreclosure sites online that tout their data as flawless are innumerable and 99% of them are flawed.  The agenda of the information provider can not be overlooked. If their attempts to sell their foreclosure listings slow in a particular area like New Jersey they are likely to indicate that the market has slowed in order to create a greater need.

This is not indicative of all foreclosure information but the agenda of the information provider is directly connected to the information they present. NJHud.com, the only free source for a comprehensive list of foreclosure homes in New Jersey is a free foreclosure list provider and therefore their data is believed to be more accurate than any other site.

While the garden state is currently sprouting up more foreclosures than any other time in the states history many would be experts are falsely claiming that the state foreclosure rate has been reduced.

As of this writing the foreclosure homes available for sale in New Jersey have continued to increase each of the previous months for the past two years. The reasons are more complex than homeowners failing to make their mortgage payments and the answers are not so simple that they can be reversed in a 24 month period. It all boils down to the same common denominators as all other high volume foreclosure areas….Population.  

Wherever the population is highest, the foreclosures and therefore the foreclosures for sale will be reflective of this high density population.  Demographics, Income level, jobless percentages are all factors but are not the primary drivers of high foreclosure counts.

Just across the river from New Jersey is the Big Apple and the increasing needs of the city are answered with high taxes which drives more people over the bridge every year to New Jersey in the hopes of escaping the egregious taxes of New York. This Tax strategy has had numerous unintended consequences that follow the sequence below and lead to more foreclosures.

1. Population increases in New Jersey
2. Higher property values in New Jersey
3. Increased taxes in New Jersey
4. Reduced population in New York
5. Lower tax base in New York means taxes are increased in New York to make up the difference.
6. More tax flight from New York to New Jersey and the cycle continues.

When it comes to foreclosures by state, New Jersey foreclosures are among the highest per capita and are not showing any signs of slowing based on the tax flight from  neighboring New York and the subsequent population increases that New Jersey will see until the cycle has been broken.