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View Poll Results: Is the rent situation in NYC just part of a bubble or cycle, or is it permanent?
Yes, its a bubble that's bound to burst or drop significantly. 9 16.07%
Yes, but it will only drop in some places, or a little overall. 11 19.64%
No, they're here to stay and will only change very little. 19 33.93%
No, they can only get higher. 17 30.36%
Voters: 56. You may not vote on this poll

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Old 04-18-2012, 08:05 PM
 
Location: Crown Heights
965 posts, read 2,107,587 times
Reputation: 518

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I'm sure its general consensus, whether you love NYC or not, that the high rents here are a b***h to deal with. I want to know, do you guys think that the rent situation here in the city is cyclical and that its a bubble thats bound to burst, or atleast abate at sometime? Or do you think these high rents are here to stay and very little change will take place?

And furthermore, do you guys think we can have a healthy, thriving city without the high rents? Will, this high cost of living be our downfall or is it an indicator of good things?
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Old 04-18-2012, 08:34 PM
 
359 posts, read 252,817 times
Reputation: 127
if you are familiar with ANYTHING you know that nothing is forever
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Old 04-18-2012, 08:38 PM
 
Location: Selden New York
1,105 posts, read 1,630,847 times
Reputation: 508
pay alot to live in a cesspool go figure
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Old 04-18-2012, 08:51 PM
 
Location: Crown Heights
965 posts, read 2,107,587 times
Reputation: 518
Quote:
Originally Posted by Dood912 View Post
if you are familiar with ANYTHING you know that nothing is forever
Trust me, I share the same sentiments. I want to see what other people think.
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Old 04-18-2012, 08:53 PM
 
359 posts, read 252,817 times
Reputation: 127
i dont see why you would even ask the question in the first place.
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Old 04-18-2012, 09:10 PM
 
Location: Crown Heights
965 posts, read 2,107,587 times
Reputation: 518
Quote:
Originally Posted by Dood912 View Post
i dont see why you would even ask the question in the first place.
Why wouldn't I? Have you seen the questions asked on this board or the topics discussed? So what, I want to discuss Rent trends and what people's theories are about the situation. As a matter of fact, why even respond to it? Kick rocks and go to some other thread that you find suitable.
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Old 04-19-2012, 02:54 AM
 
64,731 posts, read 66,226,110 times
Reputation: 43124
rents dont cycle much as usually if one cost goes down something else takes its place.

would you like it if your salary dropped?
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Old 04-19-2012, 03:57 AM
 
Location: The Milky Way Galaxy
2,256 posts, read 5,907,677 times
Reputation: 1505
I believe they're likely here to stay and get higher because the shift in a lot of peoples minds now is to rent because they don't want to be locked down in one spot especially with how unstable the housing market is. This has always been an attitude of a lot of working NYC workers but it is more prevalent now than ever.
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Old 04-19-2012, 09:17 AM
 
Location: Crown Heights
965 posts, read 2,107,587 times
Reputation: 518
Quote:
Originally Posted by mathjak107 View Post
rents dont cycle much as usually if one cost goes down something else takes its place.

would you like it if your salary dropped?
good point. But speaking of salary, do you think the rate at which rents increase will continue to outpace the median wage increases?
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Old 04-19-2012, 09:47 AM
 
Location: Manhattan
20,162 posts, read 26,460,446 times
Reputation: 9039
Another financial crisis, or a continuation of the SAME one, without again throwing trilions of tax and borrowed dollars at the banks this time, will contract the financial industry, curtail hiring and retrench the NYC housing market BIG TIME.

I think it's somewhat unnavoidable as the U.S. Empire loses primacy.

Soon all banking and stock trading will be done online with little use for mega-banking centers in the most expensive cities of the world. Offices might as well be in Bangladesh.
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