Last Friday the Satmar Hasidic sect celebrated 45 years since the passing of the Grand Rebbe, Rabbi Yoel Teitelbaum.

As part of the anniversary ceremony held by the Satmar Rebbe, with the participation of thousands of Hasidim, the Rebbe spoke about the difficult problem of housing prices in the local community.

In recent years Kiryas Joel, home to many Hasidic in New York, has seen a drastic increase in apartment prices. The price per square meter jumped from $1,800 five years ago to $6,000 today – an increase of about 400 percent.

In response, the Rebbe established a special committee in collaboration with the city mayors. About two months ago, a new municipal law was passed limiting apartment prices in new projects to $3,000 per square meter.... Read More: Arutz-7