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JeromePowellAdmirer t1_j9i2xhr wrote

Reply to comment by sutisuc in Just got our lease renewal numbers. For a 12 month lease renewal, our rent will increase over 10%. I don't see how this is sustainable long term. by chazthetic

Have you considered that what Jersey City is building is not enough to serve a metro of 20 million people? And yes, that is the market for Jersey City housing, not the 290k already here.

No one on the New York side is building anywhere close to enough. All that demand gets added on to Jersey City. Nothing Jersey City can do to fix it. New York has to fix it. If Jersey City stopped building, people would simply bid up the old houses, as happened in San Francisco and most of Manhattan.

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