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Right, but my point is the Bronx is no longer a bargain. The very poor are being pushed out or being forced into illegal activities if they want to pay the rent. There's Section 8 of course which is another reason for the high rents.
Or they have to find a way to get some sort of welfare voucher or some sort of affordable housing. Thus all the affordable housing threads on City Data.
Or they have to find a way to get some sort of welfare voucher or some sort of affordable housing. Thus all the affordable housing threads on City Data.
Even affordable housing where people are willing to live with a poor mans door.
It’s just desperation all over
Do people not realize if you can’t afford it, there are tons of other cities worth living in as well. Atl, philly, Charlotte etc etc
Yes $1,300 may seem like a steal, but you have high rates of poverty. You go through most of the neighborhood and in most tracts you'll see over 10% of the people there are living in poverty, so the rents are very high when the median income in a lot of tracts is under $40,000. $1,300 means $52,000 a year for a single person. Those people are rent burdened. They can't move out because they can't afford anything else, so when they are forced out they'll leave NYC entirely.
I don't even think 1300 is a steal considering what you said. Even 2 people living together, making minimum wage woring full time would barely be able to afford that.
I don't even think 1300 is a steal considering what you said. Even 2 people living together, making minimum wage woring full time would barely be able to afford that.
And here's the BS
That's really $52,000 net to you, but the LL calculates your gross.
So you have to make $52,000 in order to "afford" the $1300 rent if they're using the 40x rule, but you're not bringing $52,000 home.
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"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
As an example, I moved 2 blocks in NYC and it cost me over 10 grand. How much money do you think one needs to move out of state? 10 dollars?
Most people that can’t afford to live here are still crashing with their parents or in subsidized housing. People can save up the money to move if they wanted to. Problem is people hate change and would rather complain that the city they grew up in is kicking them out.
Meanwhile other areas in the country getting more expensive as well, they will continue to get left behind unless they win a lottery
Most people that can’t afford to live here are still crashing with their parents or in subsidized housing. People can save up the money to move if they wanted to. Problem is people hate change and would rather complain that the city they grew up in is kicking them out.
Meanwhile other areas in the country getting more expensive as well, they will continue to get left behind unless they win a lottery
We've had two families, one with kids one without, move from Park Slope into our building in Norwood within the last couple months, and I just met another woman from Prospect Park (who's expecting soon) who moved up to the neighbourhood two weeks ago.
What's going on, Brooklyn?
How much are the apartments selling for in your building? Or is your building rentals?
The same Brooklyn/Manhattan residents thing fleeing is happening over here in Jackson Heights and probably other Queens neighborhoods as well. Most of the new residents who are buying are coming from Manhattan and Brooklyn. I have also met two couples who just came from Astoria.
I'm not sure where new renters in my neighborhood are coming from. I would expect that buyers are more likely to be from Manhattan/Brooklyn coming to Queens vs. renters who might just shift buildings or neighborhoods in order to find something to rent. But that's just a guess.
How much are the apartments selling for in your building? Or is your building rentals?
The same Brooklyn/Manhattan residents thing fleeing is happening over here in Jackson Heights and probably other Queens neighborhoods as well. Most of the new residents who are buying are coming from Manhattan and Brooklyn. I have also met two couples who just came from Astoria.
I'm not sure where new renters in my neighborhood are coming from. I would expect that buyers are more likely to be from Manhattan/Brooklyn coming to Queens vs. renters who might just shift buildings or neighborhoods in order to find something to rent. But that's just a guess.
You're right about where the buyers are coming from. The people moving into our building are buyers looking at 85-100,000 per bedroom and every one I've met over the past 2 years came/fled from Brooklyn or Manhattan after years of renting - except for one family who sold their place in lower Manhattan and moved up here for the space.
Interestingly a lot of the people who've owned here for over 10 years were Bronx residents before buying here. A lot of them lived in the same neighbourhood. So, where did all the Bronx buyers go all of a sudden? Makes me think that the pricing surges over the past 8 years have caught Bronx renters off guard, (just like the surge in Inwood caught me off-guard when I was finally ready to buy, and sent me to the Bronx).
I'd be very interested in seeing the real statistics about whether there's been a drop or a rise in Bronx residents purchasing within the Bronx over the past 20 years.
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