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Market rate housing is just that, with landlords renting apartments for sums based upon what they can obtain. Rightly or wrongly much of the City is where persons want to live now and that is pushing up rents.
Many of those complaining about the increase in rents lived in areas of the City where for decades quite honestly demand was not that great. This includes areas such as much of Brooklyn and Queens and areas of Manhattan such as Harlem down to the Financial District.
It is what it is I guess. Sorry if thats a lame response. I lived in Washington Heights (border of WH and Hudson Heights) for a few years and moved back to the Bronx due to it being much cheaper. Some apartments in the building I lived in the Heights have rents above 1400 for a one bedroom which sticker shocked me big time. There are places there and in Inwood for 1250 if you get lucky but I couldn't deal with it anymore and ran back to my birthplace of the Bronx. Rents are insane but what can you do?
btw..kinda interesting but there is a building close to where I live (Mosholu Pkwy area) that is brand new and has rents that above the typical rent rate here (1400 is the cheapest rent there..some are much higher). I wonder if every apartment there (its called The Lisbon) has been rented.
Two hundred percent increases over what? Just throwing out a large number does nothing without explaining the context and details.
Saw the same news report and the woman interviewed stated her rent went from $1K to $3K per month over several years. However she is *still* living in the same apartment IIRC and does not seem worse for paying the additional sums. In short she moved to Williamsburg when it was a backwater with dirt cheap rents and now is paying more in rent but am willing to bet the area offers her more.
The rent stabilization increase per year since 2000 have been on average between 2-4% for one year lease and I think 3-5% for two year. For those apartments, the increases have been less. For the rent control, well those never go up.
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