Submitted by recklessmax80 t3_11mvz4l in jerseycity
pixel_of_moral_decay t1_jbpd4y0 wrote
Reply to comment by flapjack212 in Newport Rental Crazy Price Increase 20-25%+ by recklessmax80
Next is by far labor.
Look at condo budgets and you’d see it’s always about 50% labor directly (doorman, porter) and indirectly (plumbers, hvac, carpet cleaners etc). That’s outpaced inflation by quite a bit due to minimum wage increases, unionization in NY for doormen and a shortage of tradespeople.
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