Kiryas Joel – With prices of new construction in Kiryas Joel soaring to $600 per square foot, the Satmar Rebbe, Rabbi Aron Teitelbaum, issued a scathing rebuff to local builders, while announcing new protocols that would have the village only issuing permits to those who limit their pricing to half that amount.
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Rabbi Teitelbaum’s stern criticism came on August 29th in a passionate speech heard by thousands at Kiryas Joel’s Congregation Yetev Lev in honor of the 45th yahrtzeit of the founder of the Satmar sect, Rabbi Joel Teitelbaum. Reminding his followers that Satmar’s founding grand rabbi would never have approved of the high prices that have become the norm in Kiryas Joel, Rabbi Teitelbaum slammed builders for taking advantage of community members.
Explaining that he had felt personally for his followers and had reviewed all the related costs, Rabbi Teitelbaum said that builders could still see substantial profits by pricing new construction at $300 per square foot. That amount, which will include all closing costs, will become the norm in Kiryas Joel, with several builders already agreeing to the new pricing structure.
Even as he criticized builders for taking advantage of potential home buyers, a reality that has also had rental prices soaring, Rabbi Teitelbaum singled out builder philanthropist, and business entrepreneur Mr. Akiva Hersh Klein for prioritizing the community over his own bottom line.
Rabbi Teitelbaum praised Klein, who bought the land for Veyoel Moshe Gardens eight years ago, keeping prices at $300 per square foot 1,000s units as construction continues on the 70 acre megadevelopment that borders Route 17.
LISTEN TO ENTIRE SPEECH in YIDDISH below:
Satmar Grand Rebbe Aron led the central 45th #Yahrtzeit Tish for his predecessor Satmar Grand Rebbe Joel Teitelbaum OBM (1887-1979) in the presence of tens of thousands, he delivered a powerful #Keynote speech at the main #Satmar synagogue in the Town of 🌴Palm Tree Kiryas Joel. pic.twitter.com/FgdPyWqJiC
— Satmar Headquarters (@HQSatmar) August 30, 2024
There are plenty of parasitic developers, but it’s not developers who created this problem. It’s the kochi-veotzem-yodi rich people (a reminder for morons: the posuk is discussing pitfalls of accumulating material possessions, not fighting back against enemies) that created the market for this ridiculous pricing. There is no way anyone can charge a price that a payer is not willing to pay and continue staying in business. Just because you have a lot of money, doesn’t mean you should be spending on luxuries. If you say it’s your money and you spend it as you please, then it exactly you who is mentioned in the posuk of kochi veotzem yodi.
Time for the Litvish R”Y specifically in Lakewood to do something like this. My married children and everyone else’s are suffering. The little ones are suffering because their parents are so stressed out. Both parents working or even just mothers working isn’t so simple.
Kudos to him!
Now if only all the other leaders of Hasidic sects would follow suit and do the same. While I am past that stage in life, my heart goes out to young families that have to pay outrageous tuition, high healthcare, and housing costs. For many the dream of home ownership is way out of reach. They have my sympathies.
It’s also these evil wicked real estate agents here in Brooklyn. During the late 90’s and early 2000’s many of the goyim were selling their houses and moving elsewhere. They would put their house on the market in the 300k range and immediately these wicked evil greedy arrogant real estate agents would convince the seller to raise the price to over 400k. Oh, don’t worry. My people (Frum Yidden) are desperate and will pay any higher price. Wicked evil real estate agents rishaim arurim. They will/are burn in gehenom. Ruining the lives of Frum Yidden.
Maybe they should start by eliminating the huge fee every developer must give to the Kehilah for every unit they want to building.
The problem is not the builder’s, the problem is the high standards. It is possible to build cheap yet everyone wants a pesach kitchen (small one minimum $10k), large balcony (minimum 15k) oak floors (minimum 12k) oak stairs and modern railing (10k minimum) spot lights (usual minimum 10k), and so much more. Just by reducing these to standard 22k can be saved. It’s sad
I saw someone comment about real estate agents. I have a bone to pick with apartment brokers I personally had experiences with them I feel many of them are only out to make a quick buck
How about the wealthy “frum yiddin” who buy up houses in NJ areas and rent them out to Mexicans or other goyim leaving the young frum neighbors stuck with crime and vandalism. It also increases house prices for the young couples who want a home to live in.
And what about when these same people enter other areas? Are they allowed to overcharge others or the rules are only for their area?
Asking seriously
Very good. It’s about time!! What took so long? Really. What event or mishap took place that finally brought this speech about? And I say this with all due respect of course. It’s been going on for many years. And while the Rebbe is on it, a good Schmooze is needed for the pricing of cholov yisroel products of which many are owned by the Heimishe oilem and that so many rely on.. Wholesale to retail. What a ripoff. INSANITY!!
Just wondering if samar voted trump or they allowed biden to cause this havoc. Just asking for a friend
It’s simple supply VS demand, klal Yisrael is growing bli ayin Hora way way faster than any construction anywhere, bmg alone had aprox 570_600 plus chasanim per year, u know what satmar both..has…
The shomer shabbos tri state from frum young isreal..and on equals thousands of new couples per year
I dont know was there ever cheap housing in a large frum community in history? Even poor ey beit shemesh the rents is thru the roof
real estate prices generally go according to how much people are willing to pay.
The more people are willing to pay, so the prices go up.
Kudos to the Satmar rebbe for working to keep prices down.
Ridiculous headline – people who want to make a large profit are not “greedy.” I am moichel in advance anyone who hurls abuse at me for this comment.
https://torahanytime.com/lectures/319641
https://torahanytime.com/lectures/319156
I’m reposting to get more visibility, as I think my rebuttal is important.
Reply to Lavrenty
This is a Jewish libel, making up stuff, and then writing from the POV of the “oppressed”.
So maybe rich or those that bought years ago when prices were low, live in what you call McMansions, more like a large home for their large family; and those of lesser means (and likely younger as the style of new houses in KJ has changed to multi-story, multi unit complexes) rent or own apartments built almost like NYC government housing projects.
And yes, some of them probably have Section 8, as their family income and local laws of ownership allows.
If there are rich investors looking out for themselves, and maybe for the community with additional Jewish compassion, and are building in this community so their compatriots have where to live —this is NOT taking away from other underinvested communities.
To fabricate or even amplify jealousy like this is shameful. If you feel for Blacks in the Bronx and elsewhere, petition their wealthy rap artists etc. to invest by building affordable in their neighborhoods.
Nu, so no builder will build in KJ and the Satmars will resort to referring to all builders as being anti-semitic. It’s called capitalism
https://torahanytime.com/lectures/267802
https://torahanytime.com/lectures/304912
Price controls work said the helege rebbe
Socialist!
So sad to see all the self haters hating on chasidim, ESPECIALLY Satmar.
When you need a chesed done for you, they are the leaders. They don’t ask you where are on the religious end of the spectrum. If you need it, you get it. They are the absolute leaders that when it comes to chesed.
But do yourself a favor and just shut up because you don’t know what you’re talking about anyway! Stick to your own dalet amos!
Controlling pricing is socialism; it’s anti-capitalism.
Perhaps you guys are more liberal than you think 😉
https://encyclopedia.ushmm.org/content/en/article/rudolf-rezsoe-kasztner
People should read this. Basically Kastner used money to save a few Jews but didn’t use his knowledge to tell all the Jews, but the question would be…would’ve it been just to late at that point?
When the situation was getting worse in Europe, the Satmar rebbe told his people to stay put since it would be better they remained ultra orthodox then possibly risk not being it if they moved. That is the bigger crime, since there was time back then.
The belief for some was that the ghetto life filled with antisemitism around was better since it would more likely guarantee that people remained Hasidic for example. That’s not confidence of the faith, that’s just trying to use external factors to control people.
Aren’t you the guys who said Kamala food price controls were evidence she’s a communist, and they would cause huge shortages. Is the samar rebbe also a communist?