Jersey City, NJ - Rent control and growth control - Mayor Fulop
Hello BiggerPockets Fam,
I came across this article today where the current mayor of Jersey City Mr Fulop, NJ posted on his Instagram. From what I gather he is trying to control the market growth and enforce rent control. I am not sure how it impacts investors???
The article Mayor Steven Fulop posted:
https://www.nytimes.com/2018/10/26/realestate/jersey-city-grows-up.html
I am worried that it will impact my goal where I plan to flip my current condo to a rental. If there is rent control and growth control, that would impact me.
If anyone who has experience in this market or just a general outlook on this type of decision, I'd like to hear from you on how the potential future outlook of the market can be impacted from a investor standpoint.
Any help would be much appreciated thank you,
Kapil