Thursday, May 20, 2021

Steep Housing Prices, Tight Rental Market

 Lakewood has become unaffordable in such a short amount of time  very short amount of time so are the words in an article in the Shavuos issue of Ami magazine. The author pleads to real estate speculators to have rachmanus on young couples and to stop inflating the prices where growing families are moving too. There Are other cities where people can invest in and make money. Homes are out of reach to most young couples but for newlyweds the apartment search is a dire situation too. 

The rental market is very tight as well The weekly Masa Umatan is usually an indicator to the rental market and what used to be pages of pages with over 250 listings is now only a 2 page spread with few basements some asking for $1800 and most of the listings are homes in the $2000- $3000 a month range.  According to the article it is a vicious cycle as  there are many young families ready to move out of basements or small apartments but are stuck there due to the high real estate market and speculators who are offering all cash and willing to go up to 70k above asking price. This  creates a shortage in basement rentals for newlyweds. Other

contributing factors are of course covid19 forced people to stay local, new housing stock in Jackson and Toms River don't have basement options and building has slowed to to increase in construction costs such as wood and other materials because of covid lockdowns in Canada and other industries. Most of the new construction in south  Lakewood is catered and marketed  to chasidishe communities from Brooklyn. Builders are constructing larger homes that are out of a price range for those looking for a new home.  

There are Jewish communities such as Gathead  with takanos to help keep prices in check  none of that is an option.


24 comments:

  1. The author stated that they moved from Brooklyn in order to purchase a house in Lakewood. The large influx is the major contributor to the problem

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  2. With a tight market its a great time to build condos (with rentable apts. or basements
    - ;egal or not - for the YOUNG families who MUST buy a house IN Lakewood proper.

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  3. The real estate agents are big part of the problem they go into Brooklyn to market the houses to the chassidic borough park and Williamsburg crowd not giving a care about the old time Lakewood residents and bmg students who now can't afford to buy a house just 5 years ago you were able to purchase a new decent duplex for 450 and in the more expensive areas for 515 now you can't find anything under 750k or 800k its unreal

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  4. the agents have noooooo shaychus to this of course

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  5. The Litvish are being thrown out of Lakewood . It’s the sad reality

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  6. It’s the chassidim from Brooklyn that prices us out of town.

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    1. They did nothing wrong blame the township committeemen and developers who lured the chasidim to lakewood when the local yeshivaleit housing needs were ignored.

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  7. They also don’t let building shuls in Lakewood.

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  8. This comment has been removed by the author.

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  9. You know there are places to live other than Lakewood right?

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  10. The reason this is happening is שנאת חנם that permeates this town. I've lived here since 1979 and it wasn't always like it. Blaming the chasidim besides being factually wrong, is שנאה. There are many developments on the south of Lakewood that aren't for chasidim, and they're not cheaper.

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    1. Just as an eitzah tovah, don't go into the real estate business, because apparently you understand nothing about it.

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  11. New Jerse6 is Big New York and Pennsylvania are very Big and so is the Rest of America

    There is plenty of room for everyone ..just keep spreading out and go where the houses are affordable

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  12. Kollel yungerleit who want to learn not at the expense of their wives doing mans work (wonder why we starting to have a problem with these issues ) of responsibility of support and at the children's expense should sell thier homes move to tampa or Arizona where tuition is free and they can learn and grow without destroying family structure as god meant it to be

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    1. we used to be able to do that here before the new yorkers destroyed what we built and drove up the prices. they should have moved to tampa or arizona rather than destroy torah in america.

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    2. Kay dee
      Why are u so farbissen at people who are learning
      The torch of the Torah is not going to carried by herrings and kichel platters

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    3. Destroying the family structure!?
      Can you tell us the date in history when men worked all day, and wives sat home singing lullabies? Hint - it was for about twenty years of our history, no more.
      Our ancestors in Poland and Russia did not have the luxury of mothers singing lullabies all day, the women worked hard, and generally harder than the men. This husband coming home to an aproned wife is a product of TV shows, nothing to do with our reality.

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    4. The whole town was built by bnei Torah that's why it became such a hot spot for everyone to wanna move here I'm not saying that people that don't learn don't belong here just a little bit of respect for them

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  13. As evident with these comments our community is full of racist people, no wonder we have the biggest school mess in the world. We should eat each other up alive just like we do each other children when it comes to lakewood schools.

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  14. It has to be done correctly not as a mass society, where the strain of supporting a family is held by those that the torah calls the home. We are playing with fire by mixing up gender roles it has reprocussions on every level. I am pro kollel and pro kollel life when its done with sechel and not at the expense of gender roles , what im saying is simple solution where communities can be started in places with free tuition and chesp housing so the torah can be learnt with harchavos hadas and the father can retain the father figure role in the home .

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  15. Wow, take a chill.

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  16. The subway still should be Nickel - the parkway should still be 25 cents - so the youngerliet can afford food and rent (Mortgage ??).
    These "investor" keep raising the fares and the tolls. They shouls raise it way our of Yud Bais Mil from Lakewood....

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  17. Once a few people move there housing won’t be cheap and everything will go up. It can’t work.

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