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to keep certain folks away from living in that area.
to push certain folks out of the area.
to make the area exclusive/high end.
to make landlords lots of $$$$$$$.
to keep certain folks away from living in that area.
to push certain folks out of the area.
to make the area exclusive/high end.
to make landlords lots of $$$$$$$.
So if the writing is on the wall, why don't you get out while you can? Its one big conspiracy right? Leave no before you get forced out.
There are many reasons why rent is high in NY. Many have been mentioned on this board.
The culprits are a combination of Rent Stabilization, high property taxes, high water/sewage rates, high oil price, lack of supply, etc.
Rent Stabilization - I don't feel this is the reason. Without RS, the landlords will have the upper hand with all apts. RS also helps senior citizens, families, etc from being forced out. Rent stabilization might need to be revamped but in the end the resident who have RS benefits.
High property taxes, water/sewage rates, high oil prices - This is def a reason why rents are high.
Lack of supply - I am not sure of this. In Manhattan, there is always a new luxury building being created and the rent for this building is always astronomical that only a selected few will be able to afford it. The new development that is happening is targeted for a specific $ demographic.
The rent is high because slowly but surely the City has allowed the gutting of controls on rent and in times of near full capacity, unregulated landlords can charge whatever rapacious rates they can get.
It happens whenever there is more demand than supply.
Rent Stabilization - Without RS, the landlords will have the upper hand with all apts. RS also helps senior citizens, families, etc from being forced out. Rent stabilization might need to be revamped but in the end the resident who have RS benefits.
Ummmm...why shouldn't the landlord have the upper hand in THEIR property? They OWN it!!! Landlords should have 100% control of their own property. End of story.
The rent is high because slowly but surely the City has allowed the gutting of controls on rent and in times of near full capacity, unregulated landlords can charge whatever rapacious rates they can get.
It happens whenever there is more demand than supply.
False, false, and more false. Your comment is suggesting that landlords can price gouge on apartment rentals. Price gouging in apartment rentals does not exist. It's a myth.
Half my building (in the Bronx) is deregulated. The rents I charge for my deregulated apartments are the same amount many of my rent stabilized tenants pay.
It takes $2,500 a month in rent to deregulate an apartment, do you really think it can get away with charging someone $2,500 for an apartment in the Bronx? Hell no. If I did attempt to charge that price, the apartment would remain vacant until I lowered the rent price to what the market can bear in the Bronx. Get it?
Keep in mind that the Bronx and Manhattan are in 2 different markets yet under the same Rent Stabilization system. $2,500 in rent in the Bronx is too high to charge but $2,500 in Manhattan isn't. So if you think Manhattan rent is too high, move to the Bronx.
Location: Formerly NYC by week; ATL by weekend...now Rio bi annually and ATL bi annually
1,522 posts, read 2,243,761 times
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Originally Posted by MottHavenDude
That's cute but here are the REAL RENTS for NYC....not average...because averages are skewed by the super high/outrageous rents...but instead the median. I was reading in the AM NYC paper amNY.com an article in May's 12's paper called " Immigrants Take on Landlords" that the median rents in NYC are as follows: (median rents are the exact numeric middle number, exactly half are higher and exactly half are lower. This is not the average.) NYC $860 Bushwick $730 Chinatown $716 East Harlem $529 So this clearly asks the question: What is all the hype of lack of affordable housing in NYC? If half of the rents in NYC are BELOW $860....how are we lacking affordable housing? This clearly goes against all of the hype that people can no longer afford to live in this city anymore....how can this be possible when half the apts for rent in NYC rent for LESS than $860!!! And looking at the other sample neighborhoods....East Harlem's median is $529!!!! In order to see the article, you must go the website, choose "Old PDFs" then May 12, and then page 3. Anyone else wondering what everyone is complaining about?
B.S.....I live in Manhattan and my rent aint near 860 for a 1 bedroom. So to reiterate the OP's question....
Location: Formerly NYC by week; ATL by weekend...now Rio bi annually and ATL bi annually
1,522 posts, read 2,243,761 times
Reputation: 1041
Quote:
Originally Posted by hilltopjay
Ummmm...why shouldn't the landlord have the upper hand in THEIR property? They OWN it!!! Landlords should have 100% control of their own property. End of story.
The same goes in a free market environment (the world pretty much). So do you complain if a retailer sells their comparable goods at a premium of their competitors? Not having some sort of regulation DOES make for price gouging. Just like gas stations. Ifg two gas stations are on the same block and one charges 3 dollars more than the other would you say oh, he owns it so he can charge me a premium for the same product? I dont think so. The rents here are inflated. And though rents in all major cities in the CUS are high, in most places you do get better bang for the buck. In Manhattan you just get to tell people you live in Manhattan.
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