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How much are you paying for your apartment in EY for Succos?
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amother




Amber
 

Post Fri, Sep 16 2022, 6:28 am
amother Pearl wrote:
Are you insinuating that there are a bunch of people who don't know how to add and subtract?
Who would be insane enough to agree to rent at a loss? This sounds crazy.

No. I'm saying that there are a bunch of people who are apparently so desperate not to lose out completely (since they already have y"t plans set) that they didn't realize such a price drop would incur a loss.

It's actually very common. People see a time-limited opportunity, see how much they already spent, and forget to calculate whether the offer is going to save them or cost them money.

Like a tuna sale that is 5.90 for one can and 12 shekels for two cans. Or for the next 48 hours, buy two get one free on shoes, but they didn't need three pairs of shoes, just one, so they ended up paying for an extra pair of shoes they didn't need (and come home with 2 pairs of shoes they didn't need and may not use).

Black Friday and Boxing Day sales are great revenue for companies because of this same mindset. People see "limited time sale!!" and rush to buy even if they don't need. They end up spending a LOT more than they needed to (sometimes they needed to spend 0) and end up with a net loss instead of any real gain.

It works in reverse too. Someone offers you $100 but only if you will split it with another person. How much will you give me that will allow you to keep the rest? Remember, you have to explain the deal to me and I have to agree to it.

Or someone offers you that for $50 you can have a 1/10 chance at $250. For $75 you have a 2/10 chance at $250. How much money are you willing to put out for the possible gain?

People spend hundreds on lottery tickets for a chance at winning millions. Almost none of them will win anything at all, much less recoup the cost of the lottery ticket, but do you know how many people buy lottery tickets each day?

Person A puts out money for y"t arrangements, counting on someone else being in their apartment and paying the rent plus their own use of the utilities and the cleaning and damage fees which are incurred by hosting them.

So the "income" is the rent plus a small profit, meaning this month's rent money is freed up for something else. Then Person B tells Person A "guess what, you need to drop your price by several thousand or you won't get a penny" and Person A freaks out and says "omg how will I pay rent this month? I already used this month's rent on different accommodations! I better drop the price so that at least it covers rent even if it covers nothing else!" and Person A forgets that in addition to the rent money that they just used for something else, the people staying in their apartment will use electricity and will cost in cleaning fees and may damage things. It completely slips their mind because they are so focused on the rent money they've ALREADY put out and in recouping it, that the rest of the expenses are forgotten until the pressure drops (meaning contract signed) and suddenly it hits them like a load of bricks that omg, they are about to not have all the rent money because some of this money has to go to cleaning and utilities and please Hashem let these people not cause any damage.
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dena613




 
 
 
 

Post Fri, Sep 16 2022, 7:22 am
No, a young israeli couple can rent their apartment for cheap and go split YT for free at parents and in laws. No one is losing money by renting. Don't worry about them Very Happy
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amother




Buttercup
 

Post Fri, Sep 16 2022, 7:38 am
amother Pearl wrote:
Prices a few days before travel are never the same as when booked in advance. It's an undisputed fact.
This with the Queen is something completely unprecedented and with very limited availability due to the timing, of course the prices would rise very very significantly.

How can you compare it to rental in Jerusalem for the chagim? Ticket prices are cheaper when booked in advance and only rise due to limited availability closer to the time of travel. This is NOT the case with rentals at all.
It's a complete different ball game


Whenever there is a limited amount of something, it's more expensive. Start from air. Air is free because it is unlimited. Next is water. In places where water is abundant it's cheap or free. In Israel where water is limited, it's more expensive, still not a fortune. Bread is not so expensive because wheat is abundant. Mushrooms are more expensive because they are less abundant. Why is gold valuable? Because it's more rare.

The other thing that affects price is demand. The higher the demand the higher the price. Without demand, price goes down. If you had no water, you'd pay what it cost to get water. If you had no mushrooms, you'd shrug your shoulders and get on with life.

Why is there a Beers diamond syndicate? because if all the diamonds found would flood the market, the price of diamonds would go down because they'd be less rare. Does that mean that the price before the new diamonds were found was wrong? No. It was the right price when diamonds are rare. When that changes and diamonds become less rare, the price goes down.

If people can no longer afford diamonds or if people are happy buying man-made, price will go down because there will be less market for them.

It's basic economics. You can't argue with it.

Ticket prices are cheap when there are 400 seats available and more expensive when there are 2. If 30 people cancel, prices go back down because the seats are more available. That's the amount.

If a certain destination is less wanted, the price will go down. If it becomes more wanted the price goes up.

When people think that apartments in a certain area are rare and important, the price goes up. When they realize that there are more apartments in that area than they think (maybe because some wiseguy is hiring out caravans) then they are less rare and the price goes down.

Central yerushalayim for Sukkos is a destination that is wanted so the price is up. In August, Teverya is expensive. In Tishrei, it's cheap. It's a known thing that if you want to take your family away here in Israel for cheap, go the week before Pesach. There's low demand so the price goes down.

I'm not sure what you are arguing about. It's exactly the same with rentals.
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amother




Pearl
 

Post Fri, Sep 16 2022, 9:01 am
amother Buttercup wrote:
Whenever there is a limited amount of something, it's more expensive. Start from air. Air is free because it is unlimited. Next is water. In places where water is abundant it's cheap or free. In Israel where water is limited, it's more expensive, still not a fortune. Bread is not so expensive because wheat is abundant. Mushrooms are more expensive because they are less abundant. Why is gold valuable? Because it's more rare.

The other thing that affects price is demand. The higher the demand the higher the price. Without demand, price goes down. If you had no water, you'd pay what it cost to get water. If you had no mushrooms, you'd shrug your shoulders and get on with life.

Why is there a Beers diamond syndicate? because if all the diamonds found would flood the market, the price of diamonds would go down because they'd be less rare. Does that mean that the price before the new diamonds were found was wrong? No. It was the right price when diamonds are rare. When that changes and diamonds become less rare, the price goes down.

If people can no longer afford diamonds or if people are happy buying man-made, price will go down because there will be less market for them.

It's basic economics. You can't argue with it.

Ticket prices are cheap when there are 400 seats available and more expensive when there are 2. If 30 people cancel, prices go back down because the seats are more available. That's the amount.

If a certain destination is less wanted, the price will go down. If it becomes more wanted the price goes up.

When people think that apartments in a certain area are rare and important, the price goes up. When they realize that there are more apartments in that area than they think (maybe because some wiseguy is hiring out caravans) then they are less rare and the price goes down.

Central yerushalayim for Sukkos is a destination that is wanted so the price is up. In August, Teverya is expensive. In Tishrei, it's cheap. It's a known thing that if you want to take your family away here in Israel for cheap, go the week before Pesach. There's low demand so the price goes down.

I'm not sure what you are arguing about. It's exactly the same with rentals.

[quote]
Quote:

How can you compare it to rental in Jerusalem for the chagim? Ticket prices are cheaper when booked in advance and only rise due to limited availability closer to the time of travel. This is NOT the case with rentals at all.
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amother




Ginger
 

Post Fri, Sep 16 2022, 1:05 pm
amother Amber wrote:
I'm going over one of these lists and so far I've seen ONE overpriced apartment and several underpriced.


Which list? I contacted most of these and each one of them was 10-15k Ofc there were 26k and more too...

Talking about the hot areas like belz. Where they take advantage of the fact that ppl need to stay within walking distance of belz.

https://docs.google.com/spread.....vesdk
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DrMom




 
 
 
 

Post Sat, Sep 17 2022, 9:48 am
amother Buttercup wrote:
Whenever there is a limited amount of something, it's more expensive. Start from air. Air is free because it is unlimited. Next is water. In places where water is abundant it's cheap or free. In Israel where water is limited, it's more expensive, still not a fortune. Bread is not so expensive because wheat is abundant. Mushrooms are more expensive because they are less abundant. Why is gold valuable? Because it's more rare.

The other thing that affects price is demand. The higher the demand the higher the price. Without demand, price goes down. If you had no water, you'd pay what it cost to get water. If you had no mushrooms, you'd shrug your shoulders and get on with life.

Why is there a Beers diamond syndicate? because if all the diamonds found would flood the market, the price of diamonds would go down because they'd be less rare. Does that mean that the price before the new diamonds were found was wrong? No. It was the right price when diamonds are rare. When that changes and diamonds become less rare, the price goes down.

If people can no longer afford diamonds or if people are happy buying man-made, price will go down because there will be less market for them.

It's basic economics. You can't argue with it.

Ticket prices are cheap when there are 400 seats available and more expensive when there are 2. If 30 people cancel, prices go back down because the seats are more available. That's the amount.

If a certain destination is less wanted, the price will go down. If it becomes more wanted the price goes up.

When people think that apartments in a certain area are rare and important, the price goes up. When they realize that there are more apartments in that area than they think (maybe because some wiseguy is hiring out caravans) then they are less rare and the price goes down.

Central yerushalayim for Sukkos is a destination that is wanted so the price is up. In August, Teverya is expensive. In Tishrei, it's cheap. It's a known thing that if you want to take your family away here in Israel for cheap, go the week before Pesach. There's low demand so the price goes down.

I'm not sure what you are arguing about. It's exactly the same with rentals.

This. Not sure why this requires a 20-page thread.
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amother




Amber
 

Post Sat, Sep 17 2022, 1:40 pm
amother Ginger wrote:
Which list? I contacted most of these and each one of them was 10-15k Ofc there were 26k and more too...

Talking about the hot areas like belz. Where they take advantage of the fact that ppl need to stay within walking distance of belz.

https://docs.google.com/spread.....vesdk

This is not a need. It's a want.
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amother




Amber
 

Post Sat, Sep 17 2022, 2:13 pm
dena613 wrote:
No, a young israeli couple can rent their apartment for cheap and go split YT for free at parents and in laws. No one is losing money by renting. Don't worry about them Very Happy

There aren't that many Israelis on these lists. Even if there were, though, they'd still be storing their stuff somewhere else (paid machsan fee), paying a cleaning lady before and after the guests (cleaning fee, times two), paying utilities used by the renters (which can be VERY high), and they'd need to take a damages fee as well. It's not free money. Charging less than rent plus these things means a loss. Means the apartment would've been better sitting empty.

BTW DH told me that a lot of rental contracts in these areas explicitly don't include the yamim tovim so that the owner can get a higher rent during that period. Meaning the renters know they will have to leave then. For any apartment whose owner does that, a lower-than-rental price is better for the owner than nothing because likely the renters have made arrangements and won't change just because the landlord changed his mind about whether they can stay (also, they may not trust him not to change his mind a second time). So then the landlord would face no rent at all (renters, as in contract, aren't there during Tishrei) or less-than-usual rent. Of course the second option is more worth it for the landlord, who has no extra expenses like storing stuff, accommodations, cleaning fee....he's relying on the renters to do it all.

I hope DH is wrong about how common this is. But he's right that it happens, at least sometimes.
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nnmom




 
 
 
 

Post Sat, Sep 17 2022, 5:42 pm
amother Ginger wrote:
Which list? I contacted most of these and each one of them was 10-15k Ofc there were 26k and more too...

Talking about the hot areas like belz. Where they take advantage of the fact that ppl need to stay within walking distance of belz.

https://docs.google.com/spread.....vesdk



Is this Google doc updated? Meaning if it’s there it’s still available or those are likely all booked already?
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amother




Ginger
 

Post Sat, Sep 17 2022, 8:53 pm
nnmom wrote:
Is this Google doc updated? Meaning if it’s there it’s still available or those are likely all booked already?


I contacted these back in July. Id assume most are taken by now unless specified that its a new listing.
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Ruchi




 
 
 
 

Post Sun, Sep 18 2022, 4:20 pm
Was just told now by a Friend that rentals in Bnei Brak are sky high. $400 a night for a 2 bed apartment. She was lucky enough to grab something for $120 a night. It means that all her males will have to sleep in the sukah for their entire duration in Eretz Yisroel.

Are the Bnei Beraker's copying their cousins in Yerushalayim?

Bnei Brak isn't a hot spot for Sukkos tourism, why these prices?
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amother




Tulip
 

Post Sun, Sep 18 2022, 5:33 pm
Ruchi wrote:
Was just told now by a Friend that rentals in Bnei Brak are sky high. $400 a night for a 2 bed apartment. She was lucky enough to grab something for $120 a night. It means that all her males will have to sleep in the sukah for their entire duration in Eretz Yisroel.

Are the Bnei Beraker's copying their cousins in Yerushalayim?

Bnei Brak isn't a hot spot for Sukkos tourism, why these prices?


Not for Americans. But for Israelis that want to be near parents or Yeshiva and shuls there’s always a tough market.
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