Shocking percentage of New Jerseyans behind on rent or mortgage

When you are having tough financial times and can’t catch a break, you might feel a bit depraved, like an outcast, like you’re the only one who can’t come up with the mortgage payment by the due date. How do I know? Because I’ve been there.

It’s not the sort of thing you talk to acquaintances or co-workers about. If you did, and they were honest, you’d find you are far from alone. Especially in New Jersey.

Deeds.com is a real estate and deeds website. They analyzed data drawn from the U.S. Census Bureau’s Household Pulse Survey. They were looking for each state’s rate of delinquency on mortgage payments and the same for rents.

What they found for New Jersey is truly shocking. We rank number five in the nation for being behind on mortgage or rent payments.

The overall delinquency rate for the Garden State is between 11 and 12 percent. Close to 6 percent of New Jersey homeowners are behind on their mortgage payments. Nearly 18 percent of people who rent are not current.

Is this really a shock though? I mean we all have seen stories about ridiculous rents being out of reach for so many people. We have some studies.

Showing New Jersey as the number one state for young adults still living in their parental home, and it’s not because they’re lazy and rents are affordable. Also, as long as people continue to play into the hands of home sellers looking for overinflated bids on houses worth far less, delinquent mortgages are a self-fulfilling prophecy.

According to deeds.com here is the full top ten list of overall housing payment delinquency rates:

Opinions expressed in the post above are those of New Jersey 101.5 talk show host Jeff Deminski only.

Report a correction 👈