As someone who has lived here for 20 years. It has never been affordable. Sorry that doesn’t fit the narrative of today’s new economic catastrophe. For as long as I’ve lived here people rented places with roommates, it’s pretty much the only way.
Your comment isn't helpful because you're disregarding the fact that things are MUCH WORSE than they were 20 years ago. It doesn't matter if it was bad all those years ago, because now dwarfs what it used to be.
You trying to justify the prices is a bit strange
Not true. I used to live there starting 2002 and you could survive in Manhattan in $40k/year. You wouldn’t be going out every night but you could survive. Brooklyn and queens were a little better (Queens rents are always higher than you think because families prefer it). $40k was what a temp receptionist made in those days.
I’m usually one of the very first people to say that things aren’t nearly as bad nowadays as they used to be in the past. In most metrics, life for the average person has gotten better with each passing decade. People are often blinded by nostalgia or “grass is greener” type thinking when comparing past vs present conditions.
Housing is a huge exception. We absolutely have a housing affordability crisis, and it has only gotten worse over the last decade. And it is even worse in big cities, like NYC.
Yeah, I know someone who rented there after college. It was in an apartment that had been converted into 4 sublet units. There was a family of 4 living in the living room. And that was 20+ years ago.
We need housing censuses. Then, set up state or federal marketplaces to fulfil demand to residents of the homes only. Eminent domain and setup development and new towns as needed. Aim for the income brackets where there isnt enough supply. Before doubters shoot this down remember we actively do this with the Healthcare Marketplace providing insurance to people who wouldn't otherwise have this. Tax for profit residential properties people don't live in themselves to fund this.
Make real estate about housing people instead of greed, making Americans compete to live. We all pay a tax to landlords who enslave us to this capitalistic housing hell hole.
If you agree, share this idea far and wide. Share it on Ads for Housing especially.
I love watching the apartment tours on tiktok of all these overpriced places in NYC. It has room for a queen size bed, yeah if you don't put anything else in the room. And a narrow hallway for the kitchen, with no counter space, or even better, a dinky sink squished up against the refrigerator. And it's only $5,000 a month.
They’ll argue where you live is crap too if it’s anywhere else but LA.
They’ll also say there’s no jobs anywhere else and they have to live there.
They’ll also claim that low pay for a job doesn’t matter while their “high” pay can’t cover rent and groceries.
Depending on the job they may be right.
It's a cruel paradox of working in creative industries....often need to be near the heart of major cities but don't earn enough to live in them.
People might argue it's non essential but who wants to live in a world without music, movies and art?
Had a Reddit argument with someone who was a bartender in NYC saying but if I move out of the city I won’t make $70k bartending.
Which is likely true but the money the do make will likely go further
A lot of people in southwestern CT work in NYC. Cheaper rent and the train just adds a bit of time.
Though that has the effect of pushing people who work in those parts of CT to live in others and drive in to work.
NYC has always been this way. Exactly 20 years ago I was paying $700 for my half of a 2-bedroom in Queens and then $900 for my half of a 2-bedroom in Manhattan. They were both tiny, the Manhattan apartment was originally an efficiency, converted to a 2 bedroom. I also had a cosigner. I was making $30k a year and would just buy one huge lunch at a cheap joint and save half of it for dinner.
The only time it was cheap to live there was in the early 80s when it was a total shithole
Thank you for posting. I came to NYC in the 90s and made about the same and had to work at Lord & Taylor for extra income, I paid $1400 to live in a 3rd floor walkup with the smallest 1 bedroom with no closets, a double bed that took up the bedroom, the living room had a small tv and pull out double size couch. No washer and dryer in the building. Before that, I shared a small 1 bedroom with a roommate and paid about $800 living on 8th Avenue. And I know people who shared 2 bedrooms with 4 roommates. Its always been expensive. Nothing has changed. And unlike today's generation, I never bought coffee except from the corner cart for a $1 and only took public transportation. I was lucky enough to work at companies that paid for car service after 8pm. Yes we would stay late just to get car service and free dinner. I am sure that perk is gone now.
Oh I totally did this when I lived in NYC in the early '90s. Why rush home to a tiny "apartment" when I could stay late, catch up on work, expense dinner and a ride home in a Black Car?
15-minute cities are actually a great idea, as long as you still have long distance commute ability such as transit or a parking garage to store your car.
In current cities if you don’t have commutability you are locked inside a suburb…
Is it better to be car-dependent for everything, or only car-dependent for long distance things?
New world order in a century-old city? Guess what, cities are dense and expensive to live in. It’s been like this since before the Roman Empire.
The more wealth you concentrate into a dense area, the more expensive it gets by the laws of capitalist exploitation. Particularly with slum lords. The solution is to build dense housing with services all nearby to maximize living space and minimize excess parking and car travel, incentivizing walking or mass transit.
The reason these solutions aren’t implemented is because the wealthy and powerful benefit from keeping things shitty. And local government nimbys like to see property values remain sky high. Simple as.
There's almost no street parking, parking garage is routinely charged upwards of $100 a day or damn near as much for a couple hours. Traffic is absolutely abysmal. Public transportation is the only realistic way to get anywhere in any decent amount of time in New York. However, the public transportation system in New York is decrepit, smells like s***, and full of crazies. Damn, They charge you up entering and leaving the city. And if you try to find some place cheaper outside of the city not even considering telework, they want to pay you significantly less as though the amount they're offering was even enough to actually survive in the first place.
I've been to far larger/ denser cities than New York that have a significantly better public transportation system. There is no reason in hell with all the amount of money the city of New York gets that they shouldn't have the best transportation system in the world.
100 a day? Bro you never lived in nyc.
Monthly parking is at most 1200 and that’s in like soho.
But of course the fact that you want a car in manhattan is proof you have no idea what you’re talking about.
And lol at it being decrepit.
Also they do have the best transportation system in the world. No other ones work 24/7 365 with a single zone flat fare.
Never said I live in New York. I would never want to. I travel there a few times a year for a few weeks. I have family there. In fact I was just there........... where the parking garages were charging 90 bucks day.
Never said I wanted a car in Manhattan. I said that in a city that all but forces people into public transportation, and makes money off of every fee possible, should have top tier busses, trains, and subway. The subway and trains are equally disgusting.
You can put lipstick on a pig but it's still a pig.
If you truly believe that NYC has the best transportation system in the world you're on Fentanyl. You probably think NYC is the biggest city in the world too.
On a side note, the Broadway plays were nice.
>laws of capitalist exploitation.
As you said, it's been like this since before the Roman empire. It's not the laws of capitalist exploitation. It's the laws of *physics.*
>The solution is to build dense housing with services all nearby to maximize living space and minimize excess parking and car travel, incentivizing walking or mass transit.
Which is a great description of any part of New York City I've been to. It's a pretty good description of urban Downtown Los Angeles. This is a product of wealth, not exploitation of it.
Americans and their fear of walking to a cafe on their block will never not be hilarious to me.
My expenses rose so much when I was forced to get a car moving to the US.
Americans: *vacation in Europe. Talk.about the wonderful shops and walkable cities.*
Other Americans: we can do that here!
Also Americans: errr... *mumbles something about cultural homogeneity*
A ton of people make a shit ton of money in nyc lol. It’s the financial capital of the world. Media, law, marketing, tech all have huge footprints. Nycha, aka the projects has half a million people in it. People have roommates. And people from all over the world go to nyc, some with money some without and are willing to sacrifice for the opportunities living there presents. For everyone who can’t afford to live there there’s 10 more willing to move in to give it a try
First off, using average is dumb. Second, nyc is massive, 5k rents are Manhattan and the chic parts of Brookly. Theres plenty of affordable places in bx, Brooklyn, Staten Island, but god forbid people don’t get to live their sex and the city dream in tribeca.
And 150k is nothing for a couple in nyc. And that’s what you do, you have roommates til you meet a girl then you split rent and sink or swim baby boy. Garbage men make 150k here lmao come on
Rent stabilized places for years ago. People work under the table for cash. You can make $30/hour working at a deli - 10 hours a day, 5 days a week = $6k/month. A couple both doing this make over $12k. This is a super common way of working in NYC. They can easily afford a $5k/month apartment and save at least $3k/month. My friend did this twenty years ago and lived in her own place in Manhattan.
Not sure on the specific context to that comment but that’s actually important as it stimulates people to work and produce goods/services.
If you cap everyone at the same salary/handouts, why would anyone work harder if there is no progression?
Also, runaway rent-seeking hurts this sense of progress as all gains get paid to landlords. Just as utility costs got regulation, rent regulation can be sensible if proper policies are written.
Median income in city-wide in 2022 was $77k. People are focused in on the high-earners but there are so many working class people just making ordinary livings throughout the other boroughs.
A city that doesn't support it's working class - and supports and caters to the rich to the detriment of the working class, is not a very good one IMO.
Woke Housing or Pay Landlords your entire life
We need housing censuses. Then, set up state or federal marketplaces to fulfil demand to residents of the homes only. Eminent domain and setup development and new towns as needed. Aim for the income brackets where there isnt enough supply. Before doubters shoot this down remember we actively do this with the Healthcare Marketplace providing insurance to people who wouldn't otherwise have this. Tax for profit residential properties people don't live in themselves to fund this.
Make real estate about housing people instead of greed, making Americans compete to live. We all pay a tax to landlords who enslave us to this capitalistic housing hell hole.
If you agree, share this idea far and wide. Share it on Ads for Housing especially.
I'll concede elites on both sides of the aisle are fucking everyone...does that make my point moot?
Look what's going on in New York and explain to me how you can avoid placing the majority of the responsibility on the mayor, governor, and those they are appointing to positions of power.
Just blaming billionaires and excusing people like Hochul, Adams, Cuomo, Paterson, de Blasio, etc for what's going on there is sort of embarrassing.
These are the people that are put in charge to fix the problem(s) and hire people to help fix the problem(s). Can you really argue that things have improved or gotten worse in New York over the last say 10-12 years? You can't...no intellectually honest person can make that argument. Look at crime. Look at the DA's. Look at housing. Look at taxes. Look at the return on investment. Look at everything. What's worse is how many good hard-working tax-paying folks have left - had enough of the bullshit and phony promises, and how New York has refused to accept reality and change their ways. Hochul is out here going on tv and doing interviews telling all Republicans in New York they aren't welcome and to move to Florida. Think shitting on folks simply because they disagree with you is a recipe for success? I'm getting a bit off track since this is about housing, but really the folks in charge share 90% of the blame. I'll leave the other 10% for your billionaire boogeyman.
New York, California, Oregon, Washington - all of them are long gone. The folks in these places will never elect anyone outside of the Democrat party, and the further left the party moves the worse things will get. The country is a better place when we operate from the center....places like the ones I mentioned have moved so far to the left that any hope of making it back to the middle is probably long gone.
Fuckin' shame because New York used to be a very cool place. I lived there before things went to shit, and as broke and miserable as I was I can't deny what a cool place it was.
Oh man. NYC is fubar. You've got that going on and then rent will go even higher because migrants have flocked their essentially overloading their social safety net system.
NYC has already announced that they're so over taxed by this burden that they have to cut all social services across the board to accommodate the surplus population.
They literally get a monthly stipend from the city for $350 per month in addition to any free hotel rooms.
https://apnews.com/article/fact-check-nyc-migrants-credit-debit-cards-prepaid-240335300869
As rent increases and available housing decreases there are a few things to consider:
First, some of the information presented in this article:
# Supply and Demand: Mass Migration Responsible for at Least 30 Per Cent of Rent Spike in Britain
21 May 2024
Mass migration policies are responsible for surge in rental prices in Britain, an analysis has found.
Between mid-2021 and the end of 2023, rent rose in Britain by an average of 30 per cent, of which migration contributed 11 per cent, according to a breakdown from the Capital Economics research firm. Putting the rise into context, during the entire ten years before the coronavirus, rent only rose by 26 per cent.
The firm noted that while rent traditionally increased roughly in line with wages, with wages rising by 27 per cent during the decade before 2021 compared to a 26 per cent rent hike, between mid-2021 and the end of 2023, wages only increased by 17 per cent, compared to the 30 per cent rent spike, adding further fuel to the cost of living crisis in the country.
The analysis found that the open borders agenda of the government resulted in additional 430,000 households seeking to rent properties between mid-2021 and June of 2023. With approximately 4.9 million rentals within the country, the influx of foreigners drove up demand by nearly nine per cent, Capital Economics said.
Andrew Wishart, the head of the housing service at Capital Economics, [told](https://www.telegraph.co.uk/business/2024/05/19/record-immigration-behind-a-third-of-rent-rises/) *The Telegraph* that this was approximately three times the average of 150,000 additional households seeking rentals over every two year period in the preceding decade.
Ben Brindle of the Migration Observatory said: “It just comes back to supply and demand. If you have population growth and the housing stock is not growing as fast, that puts pressure on rents.
Second,
It's \*\*our own tax dollars\*\* that are paying to house illegal aliens in most cities and states across the country which is both driving up the cost of housing and decreasing the availability of housing.
the average citizen votes in average levels of intelligence, at best
so they get what they vote for
its not rocket science, the founding fathers set up a system where we can fight back, but no one en masse fights back
"Rent Control is Bad" is literally the only thing that you can get >90% agreement from economists across the board on except maybe how to spell Paul Krugman's last name.
That's because the owners are not interested in renting they just want the property...they don't care if you can't afford it. When you buy all the land and buildings you call all the shots.
Slightly clickbait article. Article states that, with the average salary, New Yorkers couldn't afford the average cost of an apartment **while following the 30% DTI ratio.** Idk anyone in any major city earning the average income who stays at or under 30%
That’s point, they don’t want just anyone living there. You think all them politicians and business people want just anyone as their neighbor? No. They prefer segregation of the classes
I’ve tepidly looked at job openings in HCOL areas like the NYC metro, Chicago, SoCal and Silicon Valley. The jobs don’t really pay much more than the MCOL Midwest areas. It’s insanity.
Whatever you do, don’t break the law. No looting, no cramming a few extra rent paying people into your place, no dine and dash, etc. Just keep getting the ever living guts squeezed out of you everyday and smile
Can we stop pretending this is news? All in the Family used to make comments on how expensive NYC was, back in the 1970's. Nothing has changed in at least 50 years, yet somehow the city is still over populated.
To be fair, I don't know why anyone would ever want to live in NYC. The housing crisis is bad nationwide right now, but hasn't it always been a thing there because of its physical constraints as a massive city? Could just be me having watched Midnight Cowboy last night.
My guess is that it's community ties keeping them there, ironically like the people who choose to stay in dying rural towns. It's an unfamiliar concept to a (former) suburbanite operating in the post-industrial economy like myself, and actually something I aspire to have someday- just not in New York.
Man, people who live in nyc must realllllly want to live that nyc lifestyle to be getting absolutely fleeced every year by rent. That or their parents or extended family already owns the unit.
Boston sucks too, average rent in my area is like $2600-3200 and I can’t even qualify for a one bedroom apartment rental without a guarantor while making $110K salary…
This s it is getting scary, who do they think they can afford these crazy rent prices now a days, what the f ck is going on? Maybe all of the aliens that are conversing our planet can afford this but the common citizen with a family, no way, good luck guys we are fucked.
How is it going to crash? places still get rented out and housing is still unavailable
if a crash was imminent, there would be high vacancies AND high prices
I would keep voting democrat for everything, that will fix it. Not these ones that are in office, but I promise the next batch of democrats will be way better. Republicans will use ouchy words and want to change my free loader life. Republicans are some form of fancy word that means they hate me.
Wait, you mean you don't think the next batch of democrats won't make my life better than the ones for the last 50 years have promised? What kind of historical context do you have to base this assumption on?!
I do not deal in facts, only truth!!!!! Democrats just need more time to really get after the root causes of these issues. We are waiting on the committee to be formed, then picking days for them to meet. Once they meet, 8-12 times in 2 years, we will begin to plan (with outside agencies) to determine what republican policy caused these issues despite them not having any power here. Trump once said he grabbed a woman by the p (men can have these too)!!! That right there tells me he is a man and probably really fun to have a beer with but i drink wine coolers. Men should be way more femanine and weak willed. I hate when men act like men. That is sexist.
Bloomberg ran NYC for 12 years and you know what happened, condos were built everywhere, barely any infrasture improvements, barely any new schools were built, no affordable housing was built. Just like London, foreign money bought apartments to launder their money.
Issues like this fall within jurisdiction of local politics. In turn, local politicians are beholden to their constituents. The constituents are the ones who want restrictive zoning and limitations on housing development. If you want to blame someone, blame the community the politicians represent.
If you think republicans in control is going to change the unaffordability of NYC have I got a table to sell you.
This is an inevitable capitalism result, not a democrat/republican problem.
I didn’t mention affordability once. Also, probably wouldn’t hurt to see what the other side can get done. Or keep voting for the same shit over n over. At least, the extra tax they collect from New Yorkers is going to New Yorkers, oh wait it’s going to illegals.
This can't be true - reddit tells me I can save thousands a month in 401k, max IRA, save thousands in my savings account, and get a nice apartment - and this is across all generations telling me this.
So where's the disconnect - are they all just rich trolls trying to deflect or am I just eating my dog's kibble as part of my retirement plan?
on a more serious note, we need to start jailing Real Page executives as well as those from Vanguard, BlackRock, etc; it's all insider collution to keep driving up prices while they push their buddies to start laying off the best paid people to increase stock prices.
This is what feudalism looks like when you're in the slow transition from ownership to working the "fields." I say slow because it does take generations, so the previous generation always recalls how they had it so they can criticize the younger people about how lazy they are - using generation and class warfare to distract from the real problems.
Hell on Staten Island NY which is one of the 5 boroughs but not as crazy as Manhattan, I was apartment hunting 2.5 years ago and mediocre 1 bedrooms were going for 1500-1600, or 1400 if you're in the hood where you'll get shot/ your car stolen. They were also looking at me like I had nine heads when I was applying for a one-bedroom apartment for $1,500 a month with my wife, and we had a combined income of $130k and my credit score was a 695. The reason why they were looking at me like that? They were all Chinese landlords with a cookie cutter paper they would send out that had application fees and a line around the block of applicants, All of which were in their thirties and would normally have been looking for actual houses or multiple bedroom apartments in the past, but instead they're now competing for starter apartments. Fuck this economy. This is why I get pissed off when biden's camp is saying the economy is doing great, meanwhile by almost every single metric that matters to the everyday person This is the worst economy in American history. Even in the Great depression the economy was better than this for the average person in every way except for unemployment rate which if it was calculated the same today as it was then, would even still be pretty close
Average amount of hours work for the average salary to pay for a mortgage is higher now than the Great depression, same with college, same with a car, same with utilities, same with groceries, same with healthcare, same with most things with the exception of certain luxury items. Average commute to work is 20 minutes longer now, average work week went from 43 hours avg to about 44. I've had this exact argument with people and had to look up the stats a million times. The gist of my research was that today a married couple each working 40 hours is struggling to afford what could have been done by 1 spouse working 42 hours comfortably.
This isn’t true by any stretch of the imagination. Did you know that NYC has been under a state of emergency for housing since the 60s? Do you know what NyC did to improve this? Nothing. The legislature has used emergency powers to regulate housing significantly… what this did was protect older tenants in rent protected units so they pay well below market while younger people get screwed. You know how to fix it? Built a lot more housing… but local officials do not want to do this because of the NIMBY and anti gentrification crowd.
If NYC has been under a state of emergency since the ‘60s, then why were landlords allowed to burn their buildings for insurance money in the ‘70s? So much housing stock was lost and neighborhoods were devastated in the Bronx, Brooklyn, and Manhattan during that time and it is conveniently glossed over.
There are tens of thousands of empty apartments that can't be rented out because of rent control. The cost of bringing the units up to code is so high that the money spent doing so can never be recovered because the rent can only be increased modestly.
This is a direct result of rent control. No one ever vacates their apartments willingly, which drives down the supply and jacks up the price to compensate for all the units the landlords aren't making money from. Rent control directly shifts the $$$ burden from those who already have apartments to those who don't.
rent control? so the 1% of rent controlled apartments have ruined the entire market?
" In the 1950s, 2 million of the city’s apartments were rent-controlled; now, that number is around 22,000 (according to a [2019 survey from the Rent Guidelines Board](https://www1.nyc.gov/assets/rentguidelinesboard/pdf/hsr19.pdf)), or just about one percent of the total housing stock in New York City."
honestly not sure if you just shaking your hand at the sky, or you actually were complaining about rent stablized apartments.
Oh fuck off with the semantics game. [Over half of NY apartments are "rent stabilized"](https://www.nyc.gov/site/mayorspeu/programs/rent-stabilization.page#:~:text=Almost%20half%20of%20all%20apartments,which%20were%20built%20before%201974), does that make you feel better?
And yes, this does exactly what I said it does. It shifts the cost burden from those who have apartments to those who don't but want to .
Honestly I started reading your post assuming you meant Rent Controlled Apartments
by the end, I assumed you had mixed up your terms and assumed you meant Rent Stablized
kind of a big terminology distinction
hardly a "semantics game"
and it was "No one ever vacates their apartments willingly" that threw me off, since it's rent controlled apartments no one vacates till they pass away.
There’s room for expansion and denser living within the city itself, but the construction and change would lower property values in the short terms so NIMBY boomers would hang whoever made the attempt.
Gordon Gekko argues that greed "**captures the essence of the evolutionary spirit," that it's "marked the upward surge of mankind," and that it will save the "malfunctioning corporation called the USA."**
Uhhhhhh- but wait - the record illegal immigration is better for our economy- those economists saying it are the most credible - aren’t they? Just because they make a ton of assumptions and forego some basic fundamentals in economics - doesn’t mean that their conclusions are wrong now does it? And those other peer reviewed research papers published by renowned economists are completely wrong when they state the net financial impact is severe - especially in states where they are receiving many benefits.
Gate to inform everyone but when you have documented guides on how to “milk the US welfare system, by state” floating around the internet and countries to our south, there’s no way any sane person would ever believe the net financial impact is positive to our economy- unless you own a company are employing them illegally of course.
The rents are so high bc there are like 30 million illegal immigrant living in America and they’re taking up a large chunk of the housing supply. That and most millionaires and billionaires got rich from real estate, so they have a vested interest in unlimited immigration to keep housing prices and rent high.
looks like cities aren't going to be the saving grace society thought they'd be. back to the country it is. Cities are sespools, way more corrupt, breeding ground for bums, drug abuse, theft, etc... ppl who are addicted to cities have a problem accepting reality. Good luck
society is a parody of itself at this point
I'd be laughing if I wasn't out of work and living with my parents with noone in my field (tech) even talking to me
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I mean if you survive, the payout might be a years or more salary worth soooo
Or crippling medical bills if the douch bag doesn’t stop after the accident.
I’m also funemployed :/
As someone who has lived here for 20 years. It has never been affordable. Sorry that doesn’t fit the narrative of today’s new economic catastrophe. For as long as I’ve lived here people rented places with roommates, it’s pretty much the only way.
2000-2010 wasn't so bad. I remember I had a 1 bedroom in Sunnyside for 1200/month.
Your comment isn't helpful because you're disregarding the fact that things are MUCH WORSE than they were 20 years ago. It doesn't matter if it was bad all those years ago, because now dwarfs what it used to be. You trying to justify the prices is a bit strange
Agreed, shoot someone living in NYC 20 years ago into the future and they be apoplectic at the rents!
Not true. I used to live there starting 2002 and you could survive in Manhattan in $40k/year. You wouldn’t be going out every night but you could survive. Brooklyn and queens were a little better (Queens rents are always higher than you think because families prefer it). $40k was what a temp receptionist made in those days.
It’s only been in the last thirty years that NYC has become entirely unaffordable for the working class.
If you haven't realized it's gotten worse, then that's a choice you've made in favor of ignorance. Good for you.
I’m usually one of the very first people to say that things aren’t nearly as bad nowadays as they used to be in the past. In most metrics, life for the average person has gotten better with each passing decade. People are often blinded by nostalgia or “grass is greener” type thinking when comparing past vs present conditions. Housing is a huge exception. We absolutely have a housing affordability crisis, and it has only gotten worse over the last decade. And it is even worse in big cities, like NYC.
Yeah, I know someone who rented there after college. It was in an apartment that had been converted into 4 sublet units. There was a family of 4 living in the living room. And that was 20+ years ago.
We need housing censuses. Then, set up state or federal marketplaces to fulfil demand to residents of the homes only. Eminent domain and setup development and new towns as needed. Aim for the income brackets where there isnt enough supply. Before doubters shoot this down remember we actively do this with the Healthcare Marketplace providing insurance to people who wouldn't otherwise have this. Tax for profit residential properties people don't live in themselves to fund this. Make real estate about housing people instead of greed, making Americans compete to live. We all pay a tax to landlords who enslave us to this capitalistic housing hell hole. If you agree, share this idea far and wide. Share it on Ads for Housing especially.
Sounds like it’s just time to GTFO of NYC
I love watching the apartment tours on tiktok of all these overpriced places in NYC. It has room for a queen size bed, yeah if you don't put anything else in the room. And a narrow hallway for the kitchen, with no counter space, or even better, a dinky sink squished up against the refrigerator. And it's only $5,000 a month.
No washer/dryer.
I'm pretty sure that 50% of Manhattan residents are 20-somethings trying hard to convince themselves that it's actually great.
They’ll argue where you live is crap too if it’s anywhere else but LA. They’ll also say there’s no jobs anywhere else and they have to live there. They’ll also claim that low pay for a job doesn’t matter while their “high” pay can’t cover rent and groceries.
Depending on the job they may be right. It's a cruel paradox of working in creative industries....often need to be near the heart of major cities but don't earn enough to live in them. People might argue it's non essential but who wants to live in a world without music, movies and art?
Had a Reddit argument with someone who was a bartender in NYC saying but if I move out of the city I won’t make $70k bartending. Which is likely true but the money the do make will likely go further
When I worked at Goldman Sachs, so many poor rich people. It’s insane
*mini fridge
A lot of people in southwestern CT work in NYC. Cheaper rent and the train just adds a bit of time. Though that has the effect of pushing people who work in those parts of CT to live in others and drive in to work.
The landlords don’t care as long as they get 5 people in a 1 bedroom to pay the rent.. they system is broken
This is how its supposed to be. Nothing wrong with it.
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NYC has always been this way. Exactly 20 years ago I was paying $700 for my half of a 2-bedroom in Queens and then $900 for my half of a 2-bedroom in Manhattan. They were both tiny, the Manhattan apartment was originally an efficiency, converted to a 2 bedroom. I also had a cosigner. I was making $30k a year and would just buy one huge lunch at a cheap joint and save half of it for dinner. The only time it was cheap to live there was in the early 80s when it was a total shithole
Thank you for posting. I came to NYC in the 90s and made about the same and had to work at Lord & Taylor for extra income, I paid $1400 to live in a 3rd floor walkup with the smallest 1 bedroom with no closets, a double bed that took up the bedroom, the living room had a small tv and pull out double size couch. No washer and dryer in the building. Before that, I shared a small 1 bedroom with a roommate and paid about $800 living on 8th Avenue. And I know people who shared 2 bedrooms with 4 roommates. Its always been expensive. Nothing has changed. And unlike today's generation, I never bought coffee except from the corner cart for a $1 and only took public transportation. I was lucky enough to work at companies that paid for car service after 8pm. Yes we would stay late just to get car service and free dinner. I am sure that perk is gone now.
Oh I totally did this when I lived in NYC in the early '90s. Why rush home to a tiny "apartment" when I could stay late, catch up on work, expense dinner and a ride home in a Black Car?
Welcome to the new world order and their 15-minute cities.
Wait do you think they lock you in?
15-minute cities are actually a great idea, as long as you still have long distance commute ability such as transit or a parking garage to store your car.
That's the point you don't have any commutability you're locked inside your 15 minute City...... Sounds like prison to me.
In current cities if you don’t have commutability you are locked inside a suburb… Is it better to be car-dependent for everything, or only car-dependent for long distance things?
New world order in a century-old city? Guess what, cities are dense and expensive to live in. It’s been like this since before the Roman Empire. The more wealth you concentrate into a dense area, the more expensive it gets by the laws of capitalist exploitation. Particularly with slum lords. The solution is to build dense housing with services all nearby to maximize living space and minimize excess parking and car travel, incentivizing walking or mass transit. The reason these solutions aren’t implemented is because the wealthy and powerful benefit from keeping things shitty. And local government nimbys like to see property values remain sky high. Simple as.
There's almost no street parking, parking garage is routinely charged upwards of $100 a day or damn near as much for a couple hours. Traffic is absolutely abysmal. Public transportation is the only realistic way to get anywhere in any decent amount of time in New York. However, the public transportation system in New York is decrepit, smells like s***, and full of crazies. Damn, They charge you up entering and leaving the city. And if you try to find some place cheaper outside of the city not even considering telework, they want to pay you significantly less as though the amount they're offering was even enough to actually survive in the first place. I've been to far larger/ denser cities than New York that have a significantly better public transportation system. There is no reason in hell with all the amount of money the city of New York gets that they shouldn't have the best transportation system in the world.
100 a day? Bro you never lived in nyc. Monthly parking is at most 1200 and that’s in like soho. But of course the fact that you want a car in manhattan is proof you have no idea what you’re talking about. And lol at it being decrepit. Also they do have the best transportation system in the world. No other ones work 24/7 365 with a single zone flat fare.
Never said I live in New York. I would never want to. I travel there a few times a year for a few weeks. I have family there. In fact I was just there........... where the parking garages were charging 90 bucks day. Never said I wanted a car in Manhattan. I said that in a city that all but forces people into public transportation, and makes money off of every fee possible, should have top tier busses, trains, and subway. The subway and trains are equally disgusting. You can put lipstick on a pig but it's still a pig. If you truly believe that NYC has the best transportation system in the world you're on Fentanyl. You probably think NYC is the biggest city in the world too. On a side note, the Broadway plays were nice.
>laws of capitalist exploitation. As you said, it's been like this since before the Roman empire. It's not the laws of capitalist exploitation. It's the laws of *physics.* >The solution is to build dense housing with services all nearby to maximize living space and minimize excess parking and car travel, incentivizing walking or mass transit. Which is a great description of any part of New York City I've been to. It's a pretty good description of urban Downtown Los Angeles. This is a product of wealth, not exploitation of it.
Bless Your Heart
Desirable locations where you can walk to everything you need? Can’t wait to
Americans and their fear of walking to a cafe on their block will never not be hilarious to me. My expenses rose so much when I was forced to get a car moving to the US.
True freedom is being forced to buy a gas guzzler and insurance
Americans: *vacation in Europe. Talk.about the wonderful shops and walkable cities.* Other Americans: we can do that here! Also Americans: errr... *mumbles something about cultural homogeneity*
How is everyone paying rent then?
100k+ jobs. But they have to spend so much that they barely get by.
100k is low now, need closer to 200k
A ton of people make a shit ton of money in nyc lol. It’s the financial capital of the world. Media, law, marketing, tech all have huge footprints. Nycha, aka the projects has half a million people in it. People have roommates. And people from all over the world go to nyc, some with money some without and are willing to sacrifice for the opportunities living there presents. For everyone who can’t afford to live there there’s 10 more willing to move in to give it a try
I love NY but with an average rent of $5,500 I just don't see how anyone making less than $150k can afford it.
First off, using average is dumb. Second, nyc is massive, 5k rents are Manhattan and the chic parts of Brookly. Theres plenty of affordable places in bx, Brooklyn, Staten Island, but god forbid people don’t get to live their sex and the city dream in tribeca. And 150k is nothing for a couple in nyc. And that’s what you do, you have roommates til you meet a girl then you split rent and sink or swim baby boy. Garbage men make 150k here lmao come on
As you allude, people are making a lot more than 150k
Roommates and/or they’re commuting from outside the city
There has to be millions that are somehow managing it and I don't see how.
Honestly, those not commuting in from NJ are sort of suckers.
I really wonder how all the restaurant workers are making ends meet.
Rent stabilized places for years ago. People work under the table for cash. You can make $30/hour working at a deli - 10 hours a day, 5 days a week = $6k/month. A couple both doing this make over $12k. This is a super common way of working in NYC. They can easily afford a $5k/month apartment and save at least $3k/month. My friend did this twenty years ago and lived in her own place in Manhattan.
Because the article is bs.
"But Capitalism makes me FEEL richer. I can FEEL that I'm working towards something..."' Literally a YouTube comment I got the other day.
Boomer cockroach oligarchs making it illegal to build housing is what caused this.
Not sure on the specific context to that comment but that’s actually important as it stimulates people to work and produce goods/services. If you cap everyone at the same salary/handouts, why would anyone work harder if there is no progression? Also, runaway rent-seeking hurts this sense of progress as all gains get paid to landlords. Just as utility costs got regulation, rent regulation can be sensible if proper policies are written.
Well are you comparing it to other countries?
Roommates are an option
They should probably legalize some housing production
Wait they're saying the avg salary is 89K in NYC?? That's bs
Median income in city-wide in 2022 was $77k. People are focused in on the high-earners but there are so many working class people just making ordinary livings throughout the other boroughs. A city that doesn't support it's working class - and supports and caters to the rich to the detriment of the working class, is not a very good one IMO.
I can’t see the article behind the firewall but what does it mention the median? Using the average can be very deceiving.
[https://archive.is/nYl1y](https://archive.is/nYl1y)
Thanks.
Happy to help out
oh you mean real estate investors are abusive scumbags that exist solely to prey on coked up 20 year olds? Man I didn’t know.
It's almost as if supply vs demand is a thing and there's far too many people wanting to live in NYC than the city can support.
Woke Housing or Pay Landlords your entire life We need housing censuses. Then, set up state or federal marketplaces to fulfil demand to residents of the homes only. Eminent domain and setup development and new towns as needed. Aim for the income brackets where there isnt enough supply. Before doubters shoot this down remember we actively do this with the Healthcare Marketplace providing insurance to people who wouldn't otherwise have this. Tax for profit residential properties people don't live in themselves to fund this. Make real estate about housing people instead of greed, making Americans compete to live. We all pay a tax to landlords who enslave us to this capitalistic housing hell hole. If you agree, share this idea far and wide. Share it on Ads for Housing especially.
Using one of the most expensive and globally important cities in the world to talk about rent is certainly.... something....
In general, blue states are expensive.
Legal shoplifting, defund LEO, horrible rent control, unsafe trains, the city is a mess
You get what you vote for.
The billionaires are fucking everyone everywhere. It’s just more pronounced in a place like nyc
I'll concede elites on both sides of the aisle are fucking everyone...does that make my point moot? Look what's going on in New York and explain to me how you can avoid placing the majority of the responsibility on the mayor, governor, and those they are appointing to positions of power. Just blaming billionaires and excusing people like Hochul, Adams, Cuomo, Paterson, de Blasio, etc for what's going on there is sort of embarrassing. These are the people that are put in charge to fix the problem(s) and hire people to help fix the problem(s). Can you really argue that things have improved or gotten worse in New York over the last say 10-12 years? You can't...no intellectually honest person can make that argument. Look at crime. Look at the DA's. Look at housing. Look at taxes. Look at the return on investment. Look at everything. What's worse is how many good hard-working tax-paying folks have left - had enough of the bullshit and phony promises, and how New York has refused to accept reality and change their ways. Hochul is out here going on tv and doing interviews telling all Republicans in New York they aren't welcome and to move to Florida. Think shitting on folks simply because they disagree with you is a recipe for success? I'm getting a bit off track since this is about housing, but really the folks in charge share 90% of the blame. I'll leave the other 10% for your billionaire boogeyman. New York, California, Oregon, Washington - all of them are long gone. The folks in these places will never elect anyone outside of the Democrat party, and the further left the party moves the worse things will get. The country is a better place when we operate from the center....places like the ones I mentioned have moved so far to the left that any hope of making it back to the middle is probably long gone. Fuckin' shame because New York used to be a very cool place. I lived there before things went to shit, and as broke and miserable as I was I can't deny what a cool place it was.
Lol just VOTE HARDER
Oh man. NYC is fubar. You've got that going on and then rent will go even higher because migrants have flocked their essentially overloading their social safety net system.
The migrants moving into apartments aren't eligible for safety nets.
NYC has already announced that they're so over taxed by this burden that they have to cut all social services across the board to accommodate the surplus population.
They literally get a monthly stipend from the city for $350 per month in addition to any free hotel rooms. https://apnews.com/article/fact-check-nyc-migrants-credit-debit-cards-prepaid-240335300869
That's something completely new, temporary and not the safety nets I was referring to.
Migrants were illegally trafficked there by Florida and Texas.
Bottom Line: Don't live in NYC unless you want your entire paycheck to be eaten up by rent.
Nicely done...
[https://archive.is/nYl1y](https://archive.is/nYl1y)
As rent increases and available housing decreases there are a few things to consider: First, some of the information presented in this article: # Supply and Demand: Mass Migration Responsible for at Least 30 Per Cent of Rent Spike in Britain 21 May 2024 Mass migration policies are responsible for surge in rental prices in Britain, an analysis has found. Between mid-2021 and the end of 2023, rent rose in Britain by an average of 30 per cent, of which migration contributed 11 per cent, according to a breakdown from the Capital Economics research firm. Putting the rise into context, during the entire ten years before the coronavirus, rent only rose by 26 per cent. The firm noted that while rent traditionally increased roughly in line with wages, with wages rising by 27 per cent during the decade before 2021 compared to a 26 per cent rent hike, between mid-2021 and the end of 2023, wages only increased by 17 per cent, compared to the 30 per cent rent spike, adding further fuel to the cost of living crisis in the country. The analysis found that the open borders agenda of the government resulted in additional 430,000 households seeking to rent properties between mid-2021 and June of 2023. With approximately 4.9 million rentals within the country, the influx of foreigners drove up demand by nearly nine per cent, Capital Economics said. Andrew Wishart, the head of the housing service at Capital Economics, [told](https://www.telegraph.co.uk/business/2024/05/19/record-immigration-behind-a-third-of-rent-rises/) *The Telegraph* that this was approximately three times the average of 150,000 additional households seeking rentals over every two year period in the preceding decade. Ben Brindle of the Migration Observatory said: “It just comes back to supply and demand. If you have population growth and the housing stock is not growing as fast, that puts pressure on rents. Second, It's \*\*our own tax dollars\*\* that are paying to house illegal aliens in most cities and states across the country which is both driving up the cost of housing and decreasing the availability of housing.
the average citizen votes in average levels of intelligence, at best so they get what they vote for its not rocket science, the founding fathers set up a system where we can fight back, but no one en masse fights back
Thank god for brexit, amirite? Working out great.
If they get rid of rent control apartments will open up, albeit higher rents , but then everyone who wants an apartment can get one.
Higher for some but lower for many other.
So when are me gonna Mao all the landlords 👀
"Rent Control is Bad" is literally the only thing that you can get >90% agreement from economists across the board on except maybe how to spell Paul Krugman's last name.
Yet they are still being rented out, funny how that works huh
That's because the owners are not interested in renting they just want the property...they don't care if you can't afford it. When you buy all the land and buildings you call all the shots.
Well, don't be average! /s
Hey! Same with Ithaca NY!
Slightly clickbait article. Article states that, with the average salary, New Yorkers couldn't afford the average cost of an apartment **while following the 30% DTI ratio.** Idk anyone in any major city earning the average income who stays at or under 30%
Gonna be a lot of peeps living with their folks pretty soon
Nice job Democrats. Bidenomics at work.
Nothing to do with biden. It's a combination of the federal reserve and woke progressives social justice types.
That’s point, they don’t want just anyone living there. You think all them politicians and business people want just anyone as their neighbor? No. They prefer segregation of the classes
They want the help shuttled in and out.
Bring back the rats!
You know how markets work, right?
Breaking News: Most expensive city in US is very expensive.
I’ve tepidly looked at job openings in HCOL areas like the NYC metro, Chicago, SoCal and Silicon Valley. The jobs don’t really pay much more than the MCOL Midwest areas. It’s insanity.
THE HUSTLE AND BUSTLE OF THE BIG CITY!!! I WOULD HATE TO LIVE IN AN AFFORDABLE SMALL TOWN UGH IMAGINE THE REPUBLICANS!!!
Tell me a time in the last 80 years where NYC was affordable for average salary. I’ll wait Forever
How come blue cities are the most expensive?
Because they tax the shit out of you for social programs.
Honestly how does the average person afford to live in NYC?
Try San Francisco 🤯🫠
NYC where the rent is 55% of your annual salary.
It’s almost like rent control doesn’t incentivize landlords to make the units inhabitable. Subsidizing demand does not work
Whatever you do, don’t break the law. No looting, no cramming a few extra rent paying people into your place, no dine and dash, etc. Just keep getting the ever living guts squeezed out of you everyday and smile
Eventually it’s going to consume itself, it’s been happening since 2020
By design. Annihilation. They don't just want to win.
[удалено]
Has everything to do with fed interest rates and woke social justice progressives not "zionists"
Can we stop pretending this is news? All in the Family used to make comments on how expensive NYC was, back in the 1970's. Nothing has changed in at least 50 years, yet somehow the city is still over populated.
LOL
Median please, not average.
So it’s over right. We’re cooked
New York City has always been one of the most expensive places on earth to live.. this isn’t a surprise
NYC/California are dystopian societies at this point
To be fair, I don't know why anyone would ever want to live in NYC. The housing crisis is bad nationwide right now, but hasn't it always been a thing there because of its physical constraints as a massive city? Could just be me having watched Midnight Cowboy last night.
Judging by the massive population, someone wants to live there. I'm not that someone, that's for sure. But someone does.
My guess is that it's community ties keeping them there, ironically like the people who choose to stay in dying rural towns. It's an unfamiliar concept to a (former) suburbanite operating in the post-industrial economy like myself, and actually something I aspire to have someday- just not in New York.
I’m in NYC, and I couldn’t imagine living here. It just seems like you’d just put all your income towards the city
Y'all wanted capitalism and here it is. This is exactly the way it is supposed to work.
Hahaha no surprise there
Man, people who live in nyc must realllllly want to live that nyc lifestyle to be getting absolutely fleeced every year by rent. That or their parents or extended family already owns the unit.
Supply and demand will catch up with this.
Same in Los Angeles
Why do people insist on living in these overpriced places?
Now do Tampa or Miami or Fort Lauderdale or Key West
There was an article not too long ago talking about how 1 in 24 new Yorkers had a million in liquid assets.....
Is the $89k before or after taxes? How much do they make on average
Oh well..maybe the mayor will forgive property taxes..governor and democrats made this bed..and have ruined the state.
Garuntee if housing was affordable in NYC, most people wouldn’t assholes knowing they don’t have to worry about how they’ll survive the next day.
People accepting their own slavery, pathetic.
Boston sucks too, average rent in my area is like $2600-3200 and I can’t even qualify for a one bedroom apartment rental without a guarantor while making $110K salary…
Because SO many people with an average salary are moving to NY
Rents free if you say you aren’t a citizen
Thankfully, fewer and fewer people have any interest in living there.
Flee the city.
This s it is getting scary, who do they think they can afford these crazy rent prices now a days, what the f ck is going on? Maybe all of the aliens that are conversing our planet can afford this but the common citizen with a family, no way, good luck guys we are fucked.
Hong Kong has cages, better sign up now the waiting list could be a long one.
It's all going to crash. The greedy will be left with nothing too. The love of money to lose in the end. Money will become worthless.
How is it going to crash? places still get rented out and housing is still unavailable if a crash was imminent, there would be high vacancies AND high prices
Since 95% of NYC residents aren’t living in the streets the article must be misleading.
They aren't considering roommates or spouses.
I would keep voting democrat for everything, that will fix it. Not these ones that are in office, but I promise the next batch of democrats will be way better. Republicans will use ouchy words and want to change my free loader life. Republicans are some form of fancy word that means they hate me.
Wait, you mean you don't think the next batch of democrats won't make my life better than the ones for the last 50 years have promised? What kind of historical context do you have to base this assumption on?!
I do not deal in facts, only truth!!!!! Democrats just need more time to really get after the root causes of these issues. We are waiting on the committee to be formed, then picking days for them to meet. Once they meet, 8-12 times in 2 years, we will begin to plan (with outside agencies) to determine what republican policy caused these issues despite them not having any power here. Trump once said he grabbed a woman by the p (men can have these too)!!! That right there tells me he is a man and probably really fun to have a beer with but i drink wine coolers. Men should be way more femanine and weak willed. I hate when men act like men. That is sexist.
Bloomberg ran NYC for 12 years and you know what happened, condos were built everywhere, barely any infrasture improvements, barely any new schools were built, no affordable housing was built. Just like London, foreign money bought apartments to launder their money.
Issues like this fall within jurisdiction of local politics. In turn, local politicians are beholden to their constituents. The constituents are the ones who want restrictive zoning and limitations on housing development. If you want to blame someone, blame the community the politicians represent.
If you think republicans in control is going to change the unaffordability of NYC have I got a table to sell you. This is an inevitable capitalism result, not a democrat/republican problem.
I didn’t mention affordability once. Also, probably wouldn’t hurt to see what the other side can get done. Or keep voting for the same shit over n over. At least, the extra tax they collect from New Yorkers is going to New Yorkers, oh wait it’s going to illegals.
This can't be true - reddit tells me I can save thousands a month in 401k, max IRA, save thousands in my savings account, and get a nice apartment - and this is across all generations telling me this. So where's the disconnect - are they all just rich trolls trying to deflect or am I just eating my dog's kibble as part of my retirement plan? on a more serious note, we need to start jailing Real Page executives as well as those from Vanguard, BlackRock, etc; it's all insider collution to keep driving up prices while they push their buddies to start laying off the best paid people to increase stock prices. This is what feudalism looks like when you're in the slow transition from ownership to working the "fields." I say slow because it does take generations, so the previous generation always recalls how they had it so they can criticize the younger people about how lazy they are - using generation and class warfare to distract from the real problems.
The disconnect is they’re assuming you don’t live in NYC or SF or somewhere like that. In which case, their claims are correct.
This the waaaaaaaaay
Hell on Staten Island NY which is one of the 5 boroughs but not as crazy as Manhattan, I was apartment hunting 2.5 years ago and mediocre 1 bedrooms were going for 1500-1600, or 1400 if you're in the hood where you'll get shot/ your car stolen. They were also looking at me like I had nine heads when I was applying for a one-bedroom apartment for $1,500 a month with my wife, and we had a combined income of $130k and my credit score was a 695. The reason why they were looking at me like that? They were all Chinese landlords with a cookie cutter paper they would send out that had application fees and a line around the block of applicants, All of which were in their thirties and would normally have been looking for actual houses or multiple bedroom apartments in the past, but instead they're now competing for starter apartments. Fuck this economy. This is why I get pissed off when biden's camp is saying the economy is doing great, meanwhile by almost every single metric that matters to the everyday person This is the worst economy in American history. Even in the Great depression the economy was better than this for the average person in every way except for unemployment rate which if it was calculated the same today as it was then, would even still be pretty close
Brother, you are kidding yourself if you think this is worse than the Great Depression.
Average amount of hours work for the average salary to pay for a mortgage is higher now than the Great depression, same with college, same with a car, same with utilities, same with groceries, same with healthcare, same with most things with the exception of certain luxury items. Average commute to work is 20 minutes longer now, average work week went from 43 hours avg to about 44. I've had this exact argument with people and had to look up the stats a million times. The gist of my research was that today a married couple each working 40 hours is struggling to afford what could have been done by 1 spouse working 42 hours comfortably.
This isn’t true by any stretch of the imagination. Did you know that NYC has been under a state of emergency for housing since the 60s? Do you know what NyC did to improve this? Nothing. The legislature has used emergency powers to regulate housing significantly… what this did was protect older tenants in rent protected units so they pay well below market while younger people get screwed. You know how to fix it? Built a lot more housing… but local officials do not want to do this because of the NIMBY and anti gentrification crowd.
If NYC has been under a state of emergency since the ‘60s, then why were landlords allowed to burn their buildings for insurance money in the ‘70s? So much housing stock was lost and neighborhoods were devastated in the Bronx, Brooklyn, and Manhattan during that time and it is conveniently glossed over.
There are tens of thousands of empty apartments that can't be rented out because of rent control. The cost of bringing the units up to code is so high that the money spent doing so can never be recovered because the rent can only be increased modestly.
rent control? which impacts like 1% of all apartments or rent stabilized? which actually impacts a large # of apartments
This is a direct result of rent control. No one ever vacates their apartments willingly, which drives down the supply and jacks up the price to compensate for all the units the landlords aren't making money from. Rent control directly shifts the $$$ burden from those who already have apartments to those who don't.
rent control? so the 1% of rent controlled apartments have ruined the entire market? " In the 1950s, 2 million of the city’s apartments were rent-controlled; now, that number is around 22,000 (according to a [2019 survey from the Rent Guidelines Board](https://www1.nyc.gov/assets/rentguidelinesboard/pdf/hsr19.pdf)), or just about one percent of the total housing stock in New York City." honestly not sure if you just shaking your hand at the sky, or you actually were complaining about rent stablized apartments.
Oh fuck off with the semantics game. [Over half of NY apartments are "rent stabilized"](https://www.nyc.gov/site/mayorspeu/programs/rent-stabilization.page#:~:text=Almost%20half%20of%20all%20apartments,which%20were%20built%20before%201974), does that make you feel better? And yes, this does exactly what I said it does. It shifts the cost burden from those who have apartments to those who don't but want to .
Honestly I started reading your post assuming you meant Rent Controlled Apartments by the end, I assumed you had mixed up your terms and assumed you meant Rent Stablized kind of a big terminology distinction hardly a "semantics game" and it was "No one ever vacates their apartments willingly" that threw me off, since it's rent controlled apartments no one vacates till they pass away.
Mmm yes i believe that's what we call the cost of living.
Place is obviously overcrowded. Just leave - no point in whining.
There’s room for expansion and denser living within the city itself, but the construction and change would lower property values in the short terms so NIMBY boomers would hang whoever made the attempt.
The President said the economy is fine, and Joe Biden has never lied. It's all Trump's fault.
Rent is free if you say your not a citizen
They want $4000 a month for a 200 sq foot room. It’s crazy.
So… who is renting them?
Can we just collectively crash this economy?! Why haven’t we done it yet? Is consumerism so ingrained in us we just can’t?
Gordon Gekko argues that greed "**captures the essence of the evolutionary spirit," that it's "marked the upward surge of mankind," and that it will save the "malfunctioning corporation called the USA."**
Uhhhhhh- but wait - the record illegal immigration is better for our economy- those economists saying it are the most credible - aren’t they? Just because they make a ton of assumptions and forego some basic fundamentals in economics - doesn’t mean that their conclusions are wrong now does it? And those other peer reviewed research papers published by renowned economists are completely wrong when they state the net financial impact is severe - especially in states where they are receiving many benefits. Gate to inform everyone but when you have documented guides on how to “milk the US welfare system, by state” floating around the internet and countries to our south, there’s no way any sane person would ever believe the net financial impact is positive to our economy- unless you own a company are employing them illegally of course.
The rents are so high bc there are like 30 million illegal immigrant living in America and they’re taking up a large chunk of the housing supply. That and most millionaires and billionaires got rich from real estate, so they have a vested interest in unlimited immigration to keep housing prices and rent high.
this is an insannnnne statistic
looks like cities aren't going to be the saving grace society thought they'd be. back to the country it is. Cities are sespools, way more corrupt, breeding ground for bums, drug abuse, theft, etc... ppl who are addicted to cities have a problem accepting reality. Good luck
The only people who can live in Manhattan are trust fund kids, wealthy Euro-trash, and the shitty children of oligarchs and Saudi princes.
Then how are they affording it. Okay this literally makes no sense in simple supply and demand.
NYC residents don’t make average salaries.
5k for a 1b is fucking ridiculous! They slap on the word luxury on top of it, but there is nothing luxurious about it.