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Re: The Rent is Due !
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Home away from home
 
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And we're talking lots of local representatives. State senators and assemblymen, county freeholders, city council persons including at large as well as ward council. Our property taxes went up 15% since 2010 and all representatives from each level of government all vote together. So all 9 city council members vote on issues pertaining to a specific ward even though it only pertains to 4 of the city council members. This goes for the other two levels of government as well. I am not to confident in the council's background in finance based on their previous decisions and voting. I tried to discuss this with them as candidates during election time they didn't have a clue. Even discussing their hiring practices for city workers seemed remote from their minds. When are they going to be accountable and prioritize themselves ? City residents including all building owners and tenants in two family homes should be very concerned about these tax hikes because it will afffect taxes and rents as well.
Posted on: 2011/12/18 23:41
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Re: The Rent is Due !
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Just can't stay away
 
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On the flip side, there is this balooning budget problem that will require huge tax increases unless the rightful restructuring is done. If we keep getting 10% annual tax raises, forget about any appreciation, so hopefully you are voicing your concerns to your local representatives.
Posted on: 2011/12/18 21:25
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Re: The Rent is Due !
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Home away from home
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You're going to have to wait several years for the housing market to recover, if you bought along the waterfront your values should recover faster than the rest of JC.
Posted on: 2011/12/5 21:27
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Re: The Rent is Due !
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Quite a regular
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I purchased in 2008 after living in brooklyn for the exact same reason.
Rent was so high not to mention purchasing a place. forget it. We moved to downtown Jersey city because it is very similar to parts of Brooklyn, it has all the charm, but the homes seemed to have much more chance of an upside as opposed to Brooklyn and Hoboken. However, neighborhoods change rapidly and becuase of the convenience of downtown JC to the city I have already seen a major increase in great restaurants and shops. I can only hope my foresight and intuitions were right and the homes increase in value. get in now when you still can ;)
Posted on: 2011/12/5 16:09
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Re: The Rent is Due !
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Home away from home
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Why yes, that's true. But the article itself is suggesting that the local rental market has tightened, driving the rents up. What they are really talking about is large scale rental buildings. From what has been mentioned on this board recently regarding rent increases in places like Grove Pointe, the rents they are asking for are not that much less than similar buildings in Long Island City or Greenpoint or South Williamsburg. Certainly the smaller buildings and historic housing in Jersey City is considerably less on rent. But the large scale development (which new construction tends to be) has rapidly increased and has a smaller disparity.
Posted on: 2011/12/5 16:04
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Re: The Rent is Due !
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Home away from home
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Rents are very high and have been for a long while in the near parts of Brooklyn Queens and Harlem -- it is why so many are now moving over to Downtown JC and forcing the rents up.
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Posted on: 2011/12/5 15:29
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Re: The Rent is Due !
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Home away from home
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Returning to 2008 levels might be a little too ambitious. Its probably easy to convince existing lease holders to renew at higher rates (factoring in the cost of a move often negates some rent savings) but the bottom line much of the rental market downtown is always going to be capped by the going rates in places like Brooklyn, Queens and the northern side of Manhattan.
Posted on: 2011/12/5 15:23
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Hudson County rents increase 7.2 percent in 2011
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Home away from home
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http://www.nj.com/jjournal-news/index ... untys_rents_shoot_up.html
Hudson County rents shoot up an average of 7.2 percent in 2011
Posted on: 2011/12/5 14:47
Edited by Webmaster on 2011/12/5 22:44:49
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