Otteau Valuations, a well-respected NJ housing market tracker, predicted that home prices may drop another six percent by next year in New Jersey. Rail towns, e.g. Montclair, South Orange, Maplewood and Summit, may not fare so badly. Interest rates are expected to creep down even further giving way to any inflation. Now is such a good time to look at buying. It could now turn out to be cheaper than renting.
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