Will rent in jersey city waterfront apartments (from Paulus hook to Newport) decrease this fall? $3500+ for one bedroom is insane…

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Let me ask my magic eight ball

It says probably not

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I'm wagering most likely not, barring some COVID or 2008 like event

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That’s why you gotta buy. I pay $800 for a 1 BR that I own on the UWS. People on my street are paying $5000 for a similar apartment and it’s only gonna go up. 3 years from now it will be $7000 and my coop fee will probably go up $20 max over 3 years.

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The answer is almost always no. Rent doesn’t decrease except during rare events, like the 2020 pandemic. It may level off and increases less frequent, but someone else will move in from wherever the hell and take any unrented units before the landlord needs to drop prices.

No

It isn't really insane.

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