Investing In Salem, NJ
Hello All,
I'm not in NJ but located pretty close (Delaware). I was curious why there's no discussion around Salem. Is it in a flood zone? High crime? Low population? Again any new information would help, thank you.
I'm near Salem, NJ and its been in decline for years. It has a high crime rate and typically not a place you want to be at night. I have heard there is potential new business coming in so maybe it will start to come back.
Originally posted by @Account Closed:
Hello All,
I'm not in NJ but located pretty close (Delaware). I was curious why there's no discussion around Salem. Is it in a flood zone? High crime? Low population? Again any new information would help, thank you.
Investing in rural areas is a different sort of investing. Salem itself isn't rural per se but the surrounding area of Salem county is. So outside the schools, county government, retail, and surrounding agricultural there isn't much driving economics there which makes investing in real estate a bit more challenging. Again not impossible. You can invest just about anywhere. You just need to know what you're getting into is all.
All you have to do is drive through.... Beautiful old architecture that is neglected and in disrepair... shops on the main drag that are vacant. And then of course it's NJ which presents other challenges (unfriendly business environment). It's too bad really. I have a friend who grew up there and is sad about its current state. They have tried to revitalize before but to no avail.
@Account Closed Employment is a major issue in Salem County. As others stated before, for NJ standards its incredibly rural. One of the major employers, Oyster Creek Nuclear Plant, started to shutdown in May of this year and as it closes down it takes with it many jobs for people in the area.