Residents of local school districts across NJ turned down 47% of the budgets proposed. Just 53% of the budgets were approved in 2006, compared to 71% in 2005. Expect more wetland development as private developers will be encouraged to join in wetlands credit trading, opening areas for commercial use. The prime lending rate went to 8% in May, 2006, raising the costs for adjustable rate mortgages. Nationally, commercial RE investment yielded 34% earnings 2005.
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