The Bronx real estate market makes no sense (Bedford, Washington Heights: short sale, 2013)
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Is it possible the rental requirements (the 40x thing and credit scores, etc.) are less strict in certain Bronx neighborhoods with few amenities? I would imagine that if a couple or a family has $1800/mo that they feel they can pay in rent but are not able to prove income or their credit score is bad, maybe they move from looking in areas that do have good amenities (but they can't get the apartment) on to less desirable neighborhoods where the rent is still $1800 but their chances of actually getting an apartment are much higher because the LL will look the other way?
Just a thought.
You're right. Good point. People with less than perfect credit or who don't qualify under the 40x one month rent income are still a step up from people on vouchers.
everything in the Bronx is under $800 unless its Riverdale which is supposed to be posh upper class prestigiousness.
The majority of the Bronx is very unsafe and in those instances, rents are extremely low in exchange for safety of life. Sad, but true.
The worst neighborhoods in NYC, as in the most unsafe places you won't get anything less than $1500. That is sad, but it is the reality and prices only go up.
What's also sad is you're outright lying. There is no place in NYC under 800 dollars unless you're talking about just a room, and even many of them are not under 800 dollars.
I noticed it in an earlier post but some people are using "$800" to mean $800,000
That is just dumb.
$800 is $800.
$800,000 is $800,000. Is it all that hard for people to type $800,000 or 800K for "shorthand?"
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