Is anyone considering moving out of NYC but afraid to do so? (rent, crime)
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No way. Rents/real estate is only going up and more neighborhoods are gentrifying.
I will never find a 1 bedroom apartment for $1100 again.
Do you like living here or are you frustrated overall? I wouldn't recommend staying here for fear that, if you were to leave and return in the future, you'd pay more for the same apartment than you're paying today.
Real estate purchase prices aren't that strong right now as they shot up very fast and there is now a lot of inventory. Rents continue to rise as there's less of a market (distorted by rent stabilization, etc.).
Do you like living here or are you frustrated overall? I wouldn't recommend staying here for fear that, if you were to leave and return in the future, you'd pay more for the same apartment than you're paying today.
Real estate purchase prices aren't that strong right now as they shot up very fast and there is now a lot of inventory. Rents continue to rise as there's less of a market (distorted by rent stabilization, etc.).
Thanks.
Well, if I had my druthers I guess I'd stay in NYC.
It does feel like home by now, which is important (a sense of home): I've been here for over 10 years now and I grew up in the NY metro area, have lots of friends and family here.
Problem is: my partner isn't crazy about the neighborhood where we live (I love it).
Also, I do worry that life here is overall too stressful and maybe it would be healthier to live somewhere a bit lower stress (we are middle aged).
Out of all of the different places I've lived (Upstate NY, New Orleans, Sydney, Honolulu, and a few others), nowhere has felt as much as home like Brooklyn does. However, I doubt that I'll return to Brooklyn (I couldn't see myself living elsewhere in NYC) due to the cost of living. While I live fairly comfortably now, I wouldn't want to see an automatic reduction in this comfort, mainly due to increased housing costs, by moving back to NYC. But, boy, do I love to visit the relatives there.
Out of all of the different places I've lived (Upstate NY, New Orleans, Sydney, Honolulu, and a few others), nowhere has felt as much as home like Brooklyn does. However, I doubt that I'll return to Brooklyn (I couldn't see myself living elsewhere in NYC) due to the cost of living. While I live fairly comfortably now, I wouldn't want to see an automatic reduction in this comfort, mainly due to increased housing costs, by moving back to NYC. But, boy, do I love to visit the relatives there.
Thanks for sharing - where do you live now?
(By the way, I also feel very comfortable living in Brooklyn - it feels like home to me/alas not to my partner)
Why would it be so difficult to return? NYC will still be here if you decide to make the move back.
The economy is weak and getting worse so you may be able to return when prices are less insane than they are now -- the real estate market is already softening here.
It may stabilize, but I'd be shocked if rents actually go down. People would line up around the block for a $1100 apartment even if the economy gets worse.
It may stabilize, but I'd be shocked if rents actually go down. People would line up around the block for a $1100 apartment even if the economy gets worse.
You're right about rents at those levels. At the higher levels, there may be some cooling.
For real estate that is purchased, it appears there is a lot of softening at the high end ($5M+). In the $500K -- 2M range, the market is still quite strong and that is less likely to cool down. It's sad that this is the price range of 'low to middle end' housing but that's how expensive things have become!
I'm not an expert but have heard that there are a lot of outside factors (rent stabilization, peoples' families piking up the tab, etc.) that make it less likely for rents to come down. In my building, it seems like the people in the most expensive apartments are international types who aren't even working but come from families with very deep pockets.
Thanks.
Well, if I had my druthers I guess I'd stay in NYC.
It does feel like home by now, which is important (a sense of home): I've been here for over 10 years now and I grew up in the NY metro area, have lots of friends and family here.
Problem is: my partner isn't crazy about the neighborhood where we live (I love it).
Also, I do worry that life here is overall too stressful and maybe it would be healthier to live somewhere a bit lower stress (we are middle aged).
You have a rent stabilized apartment.
If you do leave because your partner doesn't like the neighborhood you live in, you basically will never get that kind of rent again. And if you break up with your partner, you've SCREWED yourself.
It might be different if your partner has a house somewhere and you're legally married. But to move leave NYC just because your partner doesn't like your neighborhood is too flaky a reason to leave.
I don't know if you even have the educational background or relevant work history to easily leave NYC without there being consequences.
All this isn't to say don't leave NYC. With or without the partner, you may very well LOVE it. Just make sure you set up a good deal that makes SENSE. In fact if you have a good deal that makes sense you won't be asking us about it on the forum, you'll be posting a POST that says BYE *******!
I have been feeling the same way. I have been here my whole life. There's got to be more to life than this. I just don't know where to go. There's nothing holding me back here.
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