Satmar Rebbe Unveils Major Affordable Housing Projects and Condemns Fraudulent Realtors in Kiryas Joel
The Satmar Rebbe held a significant gathering at his main study hall in Kiryas Joel, Monroe, to commemorate the yahrzeit of his uncle, the late Satmar Rebbe Yoel Moshe. During the event, he emphasized the legacy of holiness and purity left by his predecessor and addressed pressing issues affecting the Hasidic community and the broader Haredi public worldwide, focusing on housing affordability and the financial burdens of marriage.
Highlighting Kiryas Joel's housing market, the Rebbe praised the city's low prices, maintained by a strict regulation capping apartment prices at $300 per square foot. He detailed several large-scale construction projects underway: the 'Yoel Moshe' neighborhood with 2,000 families soon to move in; 'Etz Chaim' with 800 housing units; 200 new apartments in the Oppenheim/Wortzebski complex; 300 apartments on Forest Street; an additional 200 at Forest-Aikers corner; and 200 more in the Akers-Bakerstown area. Smaller projects will add hundreds more units across the city.
The Rebbe also announced that all building permits have been secured for 200 apartments in the new city of Kiryas Moshe in Monticello, where prices will be even lower. Looking ahead, plans include constructing 3,000 to 4,000 apartments in Monticello for the entire Haredi community, not just Satmar Hasidim, reflecting a commitment to communal welfare.
Turning sharply to the issue of real estate fraud, the Rebbe condemned dishonest sellers and brokers who mislead buyers with false figures on apartment sizes and taxes, calling such acts "a Torah prohibition" and quoting Rashi's harsh condemnation from the Kedoshim portion. He presented tax documents from a buyer who was promised annual property taxes of $5,000 to $6,000 but faced actual taxes totaling $17,000, far exceeding the $4,000 paid by Kiryas Joel residents for similar properties.
Finally, the Rebbe announced a new initiative to ease marriage costs: in cooperation with the charity fund Shaarei Tova, a $40,000 loan program is being developed for grooms in Kiryas Joel, with repayment terms as low as $500 per month, aiming to alleviate the financial strain on young couples.