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Over the five decades between the 1962 coastal storm and Hurricane Sandy, vacation home communities of the Jersey Shore experienced a great deal of development, mostly with relatively modest homes on small lots. These homes were in many cases owned by households of relatively modest means. In recent decades, market forces appear to have resulted in greatly escalating land values, relative to the value of the property improvements (the homes). This research project poses the hypothesis that high ratios of land value to improvement value will result in a long-term shift of ownership to households with higher incomes, and to the reconstruction or replacement of small homes with larger homes (known as the tear-down syndrome, a common issue in older but desirable suburbs). A prior Aresty project (2015-2016) documented pre-Sandy and immediate post-Sandy (2014) assessed valuations for land and improvements in a variety of Jersey Shore communities, the household incomes of owner-occupied homes in the same communities, and the relative mix of owner-occupied (primary) and vacation (second) homes. The result was a GIS geodatabase and a paper describing the project results. In this project, the information on assessed valuations will be updated to the latest available (likely 2020). In addition, the project will provide a more in-depth analysis of transitions in home size and density in the municipalities most affected by Sandy, and of transitions in population and household income in Shore communities generally.
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