But even if large buildings have exemptions, landlords who do not would still affect the market by passing their property taxes increases to rent. Collectively owing a property in Jersey City became more expensive regardless if some had or had not exemptions.

I live in my property in JC (32% tax increase btw), but if I was renting it out, I would surely pass these costs to my tenant. The aggregate effect of people doing the same would without a question put pressure on rent, even of tax abated properties

You realize the share of investors in housing peaked in 2012-13?

And that Zillow famously wound down its home buying after taking significant losses on it, something big enough to make national news last summer?

And that small to midsized landlords make just as much profit per unit as large landlords?

There is only one solution and it's getting New York City to build enough housing so their residents stop moving here. If that happened, Jersey City's high building rate would lead to stable prices just as it did in Minneapolis. Problem is Minneapolis is the largest city in their region and Jersey City is not even close. As for Hoboken they don't build enough either and it's no surprise there are no neighborhoods like Greenville or Bergen Lafayette or McGinley Square still standing there.

i have found blessings on newark ave to be fair and straightforward and fast

Shit do be hittin

That’s funny

https://www.reddit.com/r/jerseycity/search?q=cheesecake&restrict_sr=on&sort=relevance&t=all

It's a great deal, but I'll hold off for now. Didn't realize it was the curved model. I don't think I wanna switch from flat to curved.

Mortgage interest is deductible and also how would they get fucked by interest in the first place? We've had rates at near zero for years now. The interest of which is also included in the rent payment.

Most landlords are living off their tenants with the sole reason that they were lucky to have capital.

Don’t many of the lux high rises have 10+ year abatements? I imagine the mom & pop landlord feels the rise in property taxes, inflation etc way more. Too bad much of the housing now is new corporate owned/rented units. Once those abatements go in those high rises I imagine rents to skyrocket even more.

Precisely my point, and it is really fresh that they are trying to portray this as some sort of benefit to those in the community relying on food stamps as I can't imagine how it would make sense for those with a very limited food budget to spend double the money on produce. Spending $3 to $5 for a pound of whatever is a surefire way to run out of food budget way too fast.

Cue TSwift's "it's me, hi, i'm the problem it's me"

I think I saw that already. Shameless grifting.

Plus the additional $25-per-unit monthly "solid waste" fee on our water bills that definitely was not a tax increase, no sir.

Nobody needs to be shedding any tears for landlords, but the cost of everything is rising.

Why stop at investment firms and not landlords who own multiple properties?

Didn't Solomon say high rests were caused by Airbnb?? Now that there's barely any left should rents be going down.... according to him?

I drove up there last weekend when I went to Corto and it the roads were like Willets Point

Some claim it, others have it. A lot of the newer buildings don’t have tax abatements partly because Fulop and others worked to stop the practice in some parts of the city.

All I know is Equity Residential has been caught lying about Portside Towers and they continue to be antagonistic to anyone that questions them in their buildings.

Not in the way you’re thinking. They make payments, mostly to the municipality.

But why not both!

Considering that people like to exaggerate certain things, and act as if it’s life altering to them although it’s probably not, I prefer to wait for the tea to actually be spilled.

L U X U R Y H O U S I N G

Close to PATH, a couple food options, cheaper and quiet than Downtown yet close enough to walk

90 Columbus had a bunch of dif renewal options and the smallest increase was 9%. I thought that was bad but 20-30 is ridiculous

I obviously don't know the details here but I've heard from multiple local business owners that the people who run the JC market are not the nicest to deal with and it's overall a painful and stressful experience trying to get a stall there.

Lmao Houston rents have been skyrocketing for more than a decade.

My college apartment that I paid $200 a month for in 2006 is listed now for l 2k a month and it still looks like the windows don't close all the way. You can find cheap rent in Katy or Clear Lake but that's like saying you can find cheap rent in Allentown.