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These estimated stats are questionable considering the city has been adding +30,000 apartments per year over the past several years. The city added 36,000 new units alone in 2018 and rents are still at/near record highs. My guess is the census' methodology has changed to exclude more undocumented immigrants and to further frame the clownish De Blasio administration as incompetent (which they are).
However, the slight decrease in Manhattan is plausible since regulations have made it impossible to build anything in the borough except luxury housing/ class A office. Neighborhoods like the West Village and the Upper West Side now have less apartments than they used to thanks to NIMBY's shouting every project down, restricting zoning, and landmarking everything -- just one reason why their retail corridors have suffered moreso than other neighborhoods.
To read the Times, click TOOLS (if I.E.) and choose IN-PRIVATE BROWSING.
Thank you! That does seem to work, albeit variably (I went to "private browsing", and it let me read only one article, then asked for subscription. I signed out, shut off the phone, turned it on again, went to "private browsing", and then it let me read several articles). I normally do not use private browsing on my own phone, but it looks like I should. Does it prevent "cookies" from being collected by websites in general?
While I am anti-theft in general, I don't think I am thieving if I'm reading just an occasional NYT article fairly rarely (in case of The New Yorker, of which I generally read almost 100%, I am subscribed to the physical magazine that arrives in postal mail).
I'd like to see these growth (or not) statistics broken down by demographic, economic, and occupational categories. Whose coming vs whose leaving would say a lot about the economic impact of the population changes.
I'd like to see these growth (or not) statistics broken down by demographic, economic, and occupational categories. Whose coming vs whose leaving would say a lot about the economic impact of the population changes.
That information will come starting next year when census is performed.
The 2020 census is going to provide some interesting information on many fronts; social, political, geographical, and so forth.
If the population had been dropping for 2 years rents wouldn't be surging to the highest level ever, especially considering that tens of thousands of housing units have been added to the market during the same period .
Just doesn't add up.
The housing stats and the rental figures are actual statistics. The thing about a population drop is a theory. I think for now I'll go with the statistics.
If the population had been dropping for 2 years rents wouldn't be surging to the highest level ever, especially considering that tens of thousands of housing units have been added to the market during the same period .
Just doesn't add up.
The housing stats and the rental figures are actual statistics. The thing about a population drop is a theory. I think for now I'll go with the statistics.
Rents refer to both asking and units currently occupied. Just because a LL advertising or whatever an apartment at certain rate that does not indicate he will get a tenant. Also LL's have been loathe in past to lower asking rents even while a glut of new construction has lead to an over supply.
What they have done is offer various concessions (one or two months free rent, etc....) to lure tenants. While such moves do not lower actual rent charged, they do affect overall sum paid thanks to those one or two rent free months. Those offers are slowly going away.
Landlords of new construction are saddled with debts; they cannot afford to lower rents much if at all because have people leaning on them. Investors largely lent much of the funding for many of these new buildings, and unlike banks it isn't easy to refinance such debt. Investors were promised/expect a certain ROI and that is what they will want to see.
Also again look who is leaving versus what is staying and or arriving.
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