Points of Views
From Jerusalem
Points of Views
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0202 – Points of View from Jerusalem


"Hey everyone, I apologize for opening this discussion here but, dear apartment owners! It is simply grating that you demand such high prices for a horrific two bedroom apartment. How high will the prices rise?! They’ve become really excessive. If you could at least invest a bit in the apartment you rent out…"

[Selected Comments:]
– "We’re the only ones to blame. Stop paying those prices."
– "Truth is – you’re right. This is one of the requirements of living in the city. If you move out to the suburbs you’ll find a 4-room apartment for the price of a one-bedroom apartment here."
– "Castel, Mevaseret [1]: a nice area. The majority of apartments are nice, and include a garden etc. You can rent a 2-room apartment for less the 3 thousand shekels."
– "[This is as a result of] government policy that doesn’t take care of weaker parts of society, young couples and the price of housing. In Berlin, the rent is subsidized, and cannot be raised whenever people want. I think that apartments’ prices have risen a couple of times fold?! You voted for Bibi [Netanyahu], and now you’ve been f***. "
– "I want to bring your attention to a few things. The government doesn’t set apartment prices, so leave Bibi alone. Apartment prices are set by supply and demand. The rent that you pay is very low compared to buying prices of apartment. It’s ridiculous that an apartment that costs 2,250,000 is rented out for 5500, so take care to keep things in their proper proportions."
– [In response:] "So, how come renters make money in other countries, where rent prices are much lower?"
– [In response:] "In the US (where I’ve lived for 35 years) an asset that costs $650,000 is supposed to be rented for at least $5000. Rent prices aren’t low."
– [In response:] "Yes, but that property would not be a 2-room apartment on the sixth floor!"
– [In response:] "I agree, but look at it from the point of view of a property owner in Jerusalem: He isn’t the one being rapacious."
– [In response:] "So who’s taking advantage? Me? LOL. Apparently, you’ve got no idea what’s going on in Jerusalem (you said that you’ve been living abroad for 35 years). I’ll photograph some apartments in Pisgat Ze’ev [2] for you. The owner is asking for insane prices, and for what?! A 30-year-old house, unkept, and the landlord is too stingy to fix things. You’re telling me that I’m the one taking advantage?! There are prestigious neighborhoods in Jerusalem, if one can afford them, I wish him happiness. But here? In Pisgat Ze’ev where the quality of life is low? When going into the mall, you feel like you’ve entered Gaza? Where there are gunshots and fireworks, every minute of every day? Quality of life is something that we certainly don’t have here! And house owners here ask for sky-high prices! But I said it once, and I’ll say it again, the People of Israel like to be slapped, and that can’t be helped!"
– [In response:] "Speaking from personal experience, I rented out my property for nothing compared to its price. Renting an asset is the worst kind of investment. Whoever invests in real-estate in Israel is a sucker."

0202 Editor's Notes:
[1] A town on the outskirts of Jerusalem.
[2] Pisgat Ze’ev is a neighborhood on the eastern side of the 1948 Armistice Border with a mix of religious and secular Jews and a small minority of Palestinian Arabs.

#Economy #Housing #Pisgat_Zeev