nick_nuz t1_ixeonel wrote
Reply to comment by sutisuc in N.J. town still has a rent freeze. Why are tenants getting hit with rent hikes? by sutisuc
Got it, thanks for the clarification! But the eviction moratorium obviously impacted EVERYONE right (both at the federal and the local Newark level), correct?
(Edited: also, how does this play into the article posted? Isnt the city wide freeze over? And the big question here is: Because the freeze was over a 12 month period, wouldn’t multiple raises be allowed even with rent stabilized ordnances? Thats the part I dont fully understand when reading the article)
The reason I mention this is if you look at MLS sale records and the RE market today in newark…with Principal & Interest + escrow payments, renting in every scenario is cheaper. Thats why i mention policy is critical because without private or local landlords having a decent chunk in the market…developers take over.
Again, I totally understand its a sensitive issue and judging by some of the “eff landlords” comments….I get it. But the alternative is what? Developers touting their chest, Newark losing tax revenue and then absolutely zero net gain in equity for residents….its kind of a mess.
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