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Money

Report: N.J. fourth most expensive state for renters

Report: N.J. fourth most expensive state for renters

Bergen, Passaic, Cumberland and Essex least affordable

When it comes to the cost of rent, New Jersey is the fourth most expensive state in the nation, excluding Washington, DC, according to a national study released Monday.

The hourly wage a New Jersey family must earn — working 40 hours a week, 52 weeks a year — to be able to afford the rent and utilities for a safe and modest home in the New Jersey has increased 56 percent since 2000, the report found.

The typical renter in the state earns $15.82 per hour, which is $8.72 less than the hourly wage needed to afford a modest unit. An estimated 61 percent of New Jersey renters do not earn enough to afford a two-bedroom unit at the fair market rent.

 

The case for owning treasury bills

The case for owning treasury bills
BY WARREN BOROSON
NEWJERSEYNEWSROOM.COM
BOROSON ON MONEY

The estimable fellow who ran the Sequoia Fund, Bill Ruane, told me that he kept $500,000 in Treasury bills – to give himself the courage to keep p...

Acme Markets announces widescale layoffs in New Jersey and surrounding area

Acme Markets announces widescale layoffs in New Jersey and surrounding area
BOB HOLT
NEWJERSEYNEWSROOM.COM

As part of a cost-cutting procedure to better compete with outlets such as Target and Walmart, struggling Acme Markets has announced the layoffs of 900 part-time employees...

Moody's Investors Service downgrades N.J. state government's bond rating

Moody's Investors Service downgrades N.J. state government's bond rating

‘Weakened financial position’ sparks second downgrade in three months

The bond rating for New Jersey’s state government has been downgraded one step to Aa3, the fourth-highest level, by Moody’s In...

Small but encouraging signs for small business lending

Small but encouraging signs for small business lending
BY ROHIT ARORA
COMMENTARY

Small business lending and use of lines of credit are on the rise, even if not at the level experts had hoped. The loosening of credit for small businesses can help them expan...

Gov. Christie signs Democratic-sponsored bill extending unemployment relief

Gov. Christie signs Democratic-sponsored bill extending unemployment relief

Democratic-sponsored measure extends benefits through end of year

Gov. Chris Christie has signed Democratic-sponsored legislation designed to provide relief for New Jerseyans confronting long-term unem...

N.J. DOBI and Britain to share insurance information

N.J. DOBI and Britain to share insurance information

Pact follows similar agreement with Germany in 2009

The state Department of Banking and Insurance and Britain’s Financial Services Authority (FSA), which regulates that country’s insurance industry, ha...

‘My adviser tells me: Sell everything’

‘My adviser tells me: Sell everything’
BY WARREN BOROSON
NEWJERSEYNEWSROOM.COM
BOROSON ON MONEY

Someone writes to me: “I had my first meeting with the new financial adviser at my bank. I’m 60-years old and have done pretty well with mutual fu...

Looking for an inflation hedge? A tip on TIPS

Looking for an inflation hedge? A tip on TIPS
GERALD J. ROBINSON
NEWJERSEYNEWSROOM.COM

Inflation is here and it’s starting to bite.

The signs of increasing inflation abound: gasoline at $4 a gallon, wholesale food prices rising 3.9 percent in Februa...

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