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Apartment rental prices are dropping - it may draw people
He's talking about some apartments in the village popping up under $2000
There is a lot of talk about vaccines from a variety of countries including, the U.S. and U.K.
Russia and China both clime to have a vaccine and giving to military personal now
If a vaccine is distributed late this year or early-mid next year people may start coming to NY to get a 1 or more year lease on an apartment where if New York sometime in next year has a rebound they will have lower rent. In the next few months this may draw some people to the city
So some people will gamble on an upswing not too far off and come to NY now or in the fall to take advantage of the prices
I see this as possible if there is a gradual upward trajectory in standard of living as phase 4 goes into full re-opening
But if it's ups and downs or a downward trajectory by say October , not
-However to come here and take advantage of a lower rent they will need an income
I think it will draw people too. The longer term concerns are the political climate becoming more and more hostile to business/economic growth and if the QOL can be maintained.
Lord save us from these Instagram/YT eegits and their tiresome "reports" about the state of this or that in city.
So some equally other eegit sees this guy on YT, moves to NYC lands an apartment in GV for "low rent" that lasts a year. Come renewal time things are totally different economically and LL says "put out or get out"; what happens then?
For record rents aren't dropping to dirt cheap levels. An apartment that was $3.395 going down to $3,300 isn't a huge deal. You still need to show are earning bank in order to get a lease.
Lord save us from these Instagram/YT eegits and their tiresome "reports" about the state of this or that in city.
So some equally other eegit sees this guy on YT, moves to NYC lands an apartment in GV for "low rent" that lasts a year. Come renewal time things are totally different economically and LL says "put out or get out"; what happens then?
For record rents aren't dropping to dirt cheap levels. An apartment that was $3.395 going down to $3,300 isn't a huge deal. You still need to show are earning bank in order to get a lease.
He is talking about an apartment under $2K in GV
what if it was a 2 year lease?
and if it is a 1 year wouldn't there be laws limiting an increase the next year?
Lol at "everybody left NYC " . My neighborhood still seems way overcrowded. No seats on subway or busses either.
I think this everybody left or is leaving thing is way over done.
and if it is a 1 year wouldn't there be laws limiting an increase the next year?
There are no laws governing how much market rate apartments rent can increase. All the 2019 rent laws did was say that LL's have to give notice a certain number of days ahead IIRC.
Not many market rate LL's will offer a two year least up front unless they are really sure of tenant. Suppose the person is a deadbeat or otherwise a problem? With a one year you just tell them "don't want ya, don't need ya, bye...". Two years means you're stuck with them at least for 19 to 20 months before time to offer renewal or not.
Only other reason can see for offering a two year lease up front is if LL has got someone on hook for a really good rent (for him/her), and wants to get them locked down.
RS leases are supposed to be offered as one or two years at initial signing; but my LL's don't do it and that has serious consequences. It means tenant will be paying an increase one year sooner than they ought (if they wanted a two year lease), and that affects rents for entire tenancy.
If you wanted to try NYC out for a year and have very little to move then maybe it would be worth it. I say maybe because you still wouldn't get the entire feel for the city since everything is at half speed. Unfortunately when things do pick up which eventually they will and you start loving the city you will be forced to move out, so why bother ?
Any "sales" I have seen are not anywhere near what I would consider a sale. For the moment I live in San Diego one mile from the coast in a 2 bedroom house with patio for $2,900. THAT is a deal. I might need to move back to NYC eventually though due to personal reasons but I would assume I'd end up in the Bronx or the very least Queens. I shudder to think......!
Lol at "everybody left NYC " . My neighborhood still seems way overcrowded. No seats on subway or busses either.
I think this everybody left or is leaving thing is way over done.
They are talking about the rich city folks. But they leave every summer anyway. They just left sooner this year.
What's the point if the restuarants, bars, cultural activites are closed, no jobs, and crime everywhere?
Cold war with Red china is already on so chinese money will soon be cut.
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