As an Atlantic and Ocean County real estate pro, I've recently been asked the same question over and over.
"With the opening of the new casinos, will Atlantic City going to be a good place for real estate investment or luxury home market?
So here's my answer!
"I had my original 15 minutes of fame in Atlantic City in the late 80's when Atlantic City was starting its second wave. They aren't re-births, the town never died. All things have cycles and this resort town isn't immune to recessions.
I think this time around it is different. Not because gambling isn't the prime reason people are coming down here. The biggest reason is the real estate prices for the first time have deflated since the casinos artificially cranked them up, so the entrance price to build a non-casino developments was prohibitive.
This wave is going to bring in other entertainment and businesses that have a shot to grow. It's still going to take years before it's a luxury home market but until then, Atlantic City is going to provide great opportunities for real estate investors and developers."
Investing In Atlantic City
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