Jersey Shore Rentals Show Strength in Face of Tough Economy

Troubling economy does not appear to be affecting New Jersey shore rentals, as many in the Northeast region seem willing to stay close this summer.

The U.S. economy may be in a tailspin, but try telling that to real estate agents in the Jersey shore house rental market. Rentals are booming in beach communities along the New Jersey coast, with pricing at 2008's rates. Local experts point to a general unwillingness among regional vacationers to travel far distances in a shaky economy. "Many people won't be on cruises or taking cross-country trips this year," Diane Wieland, Cape May County's tourism director told The Associated Press. "They're looking for places they can go on a tank of gas." There have been predictions for some time that an economic malaise could mean a boon for New Jersey tourism in general. In February 2008, Northjersey.com reported that a recession could drive business to the Garden State's attractions. "We're in the middle of 17 million people who can eat breakfast at home and be on our beach at noontime," said Barbara W. Steele, director of public affairs and tourism for Ocean County in an interview with Northjersey.com. While many are bullish on the prospects of the rental markets and the local businesses that support Jersey shore tourists, some caution remains. David Weinstein, a spokesman for AAA, told The Associated Press that many of their members are not booking in advance and may be waiting for last-minute deals. "Many travelers just don't know these days what their job or economic situation could be a half-year from now," he said.