Manhattan is part of the NYC market, as are the other four boroughs. You’re claiming Hoboken and Jersey are, too. In a regional sense I’d agree that they are, but Manhattan, Brooklyn, and now parts of Queens are very different markets than others within the region.
It’s great that you’re a landlord in Jersey City, but that’s not the same thing as being one in Manhattan any more than it is being one in Scarsdale or Mineola, even if you’re all in the same regional housing market with the same basic housing stock. Simple supply and demand may work perfectly well where you are, but last I heard Jersey City isn’t vying to be a Disneyland for the wealthy.
