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Blackbeauty it is not a trick or a con...it is simply finding equilibrium. If you cannot pay more than $900, and nobody else does...the rent remains at $900 indefinitely until someone (the market) tolerates and increase. The same rules apply for everything...if suppliers could sell milk for $800 for a half gallon, they would be..but since they can't, it sells for whatever rate they can get. There is nothing different about rent, and there shouldn't be.
Unless of course you are happy to sell your car for $500 when someone else will pay $10,000 for it? I wonder which price you would choose?
because no one is speaking up about it, plus it's run down to the ground and so many people are willing to put up with that like losers and still live here.
How can people grow up in America and still be so clueless about simple market rules?
Why is the rent in Buffalo so cheap? More likely to be (a) a clever landlord conspiracy too opaque for us to fathom yet than (b) low demand and plenty of supply. Right?
^ sounds like an unfair rule that the "man" created to keep an edge over the less fortunate among us, so the problem never goes away. it just gets worse over time.
^ sounds like an unfair rule that the "man" created to keep an edge over the less fortunate among us, so the problem never goes away. it just gets worse over time.
Yeah sure..."the man" sure it is. Stop whining and leave NY already or move to Newark or Detroit. I heard rent is cheap there.
Like every place else, it's supply and demand.
But UNLIKE every place else, supply in NY is artificially constricted by the price control system called "rent stabilization". In effect, about half the rental apartments are kept off the market because low-rent stabilized tenants sit on them for decades, if not life, or even after death! (They pass it on as an inheritance).
So the market rent tenants are paying for the privileged tenants.
Like every place else, it's supply and demand.
But UNLIKE every place else, supply in NY is artificially constricted by the price control system called "rent stabilization". In effect, about half the rental apartments are kept off the market because low-rent stabilized tenants sit on them for decades, if not life, or even after death! (They pass it on as an inheritance).
So the market rent tenants are paying for the privileged tenants.
Rent stabilized apartments are what I am gonna be looking for when moving over to NYC because then I would at least have some comfort that if where ever I move to becomes the new "hip" neighborhood, then the landlord can't simply kick me out to see if they can get 3X the rent of the place I am in.
Having rent slowly go up over time doesn't bother me.
Like every place else, it's supply and demand.
But UNLIKE every place else, supply in NY is artificially constricted by the price control system called "rent stabilization". In effect, about half the rental apartments are kept off the market because low-rent stabilized tenants sit on them for decades, if not life, or even after death! (They pass it on as an inheritance).
So the market rent tenants are paying for the privileged tenants.
Half the rental apartments in NYC are rent stabilized?
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