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re: NYC Rental Market Pushed to Breaking Point by Covid shutdown
Posted on 7/11/20 at 8:23 am to dewster
Posted on 7/11/20 at 8:23 am to dewster
quote:
Look at 25-year-old Jessica Lee and her husband, who needed four roommates to afford their $4,000-a-month four-bedroom apartment in Brooklyn’s hip Bedford-Stuyvesant neighborhood, a relative bargain in the Big Apple. Now her husband and everyone else in the house have all lost their restaurant jobs and she’s the only one still working—at a company making hand sanitizer.
Move somewhere cheaper.
1
Posted on 7/11/20 at 8:25 am to dewster
NYC has always been known for slum lords and absentee landlords.
Taking advantage of difficulties related to corona fits their way of fleecing tenants.
For a time, I lived just outside of NYC and wouldn't think of living in the city.
Taking advantage of difficulties related to corona fits their way of fleecing tenants.
For a time, I lived just outside of NYC and wouldn't think of living in the city.
Posted on 7/11/20 at 8:25 am to Mo Jeaux
quote:
Such short sightedness.
he's not wrong
the whole "that's where all the jobs are!" mantra was always the excuse for why hyper urbanity was pushed on people
which is why RE is unaffordable, which creates major economic issues (especially high gini coefficients), and then the cycle keeps going by pushing more prestige/jobs there, which makes RE more unaffordable, etc etc
cities are opulence that have been sold as necessities. we are learning that they're expensive luxuries
Posted on 7/11/20 at 8:25 am to dewster
Maybe don't live in a 4bd apartment in a hip neighborhood?
Posted on 7/11/20 at 8:26 am to dewster
lol I’m supposed to feel sorry for an idiot who pays 4K a month for a lease? GTFO
Posted on 7/11/20 at 8:27 am to Mo Jeaux
quote:
Holy shite. I just read that closely. They’re idiots
Raised by boomers no doubt
Posted on 7/11/20 at 8:27 am to fightin tigers
quote:
The government will bail us out. They have tons of money!
I can’t even laugh at this anymore because I see people say it too often
Posted on 7/11/20 at 8:28 am to SlowFlowPro
quote:
opulence
quote:
high gini coefficients
quote:
hyper urbanity
Look who went to college
Posted on 7/11/20 at 8:29 am to Mo Jeaux
Always said I would rather live in mowata then a shite hole big city
Posted on 7/11/20 at 8:30 am to SlowFlowPro
quote:
he's not wrong
I mean his “they voted for this” refrain, which is common on this site. The prog march is happening everywhere. Georgia almost elected the Venus of Willendorf as governor not too long ago. To act as if the contagion is limited to urban areas is being short sighted.
This post was edited on 7/11/20 at 8:31 am
Posted on 7/11/20 at 8:30 am to SlowFlowPro
quote:hope we don’t see a collapse. I just bought 17 months ago in one of these markets. Either way we riding it out. Being in an elite public school district hopefully keeps the demand for our neighborhood.
those areas with their insanely expensive bubble RE markets are going to collapse.
Posted on 7/11/20 at 8:31 am to GEAUXT
quote:
Maybe don't live in a 4bd apartment in a hip neighborhood?
Bedstuy is as cheap as it gets in NYC.
Also, the article says it is a couple and 4 room mates. That is less than $1000/mo rent. Is that $400/mo in BFE? no but that is affordable for most people
Posted on 7/11/20 at 8:31 am to SuperSaint
well you are in a different area with an industry that isn't going away
if big tech collapses then we have a lot more to worry about than RE
if big tech collapses then we have a lot more to worry about than RE
Posted on 7/11/20 at 8:31 am to dewster
let them eat cake
Posted on 7/11/20 at 8:32 am to Mo Jeaux
quote:
I mean his “they voted for this” refrain,
oh i may have misunderstood
i didn't think of it in terms of voting as much as promoting the hyper urbanity. culture not politics
Posted on 7/11/20 at 8:32 am to idlewatcher
quote:
lol I’m supposed to feel sorry for an idiot who pays 4K a month for a lease? GTFO
Again the article clearly states it is a couple and 4 other room mates. 6 people can easily afford a $4000/mo rent. The issue is 1 of the 6 people has a job but even so, they are getting $1000/wk minimum UI, again they should be able to afford this rent even on UI.
This post was edited on 7/11/20 at 8:35 am
Posted on 7/11/20 at 8:33 am to dewster
quote:
their $4,000-a-month four-bedroom apartment in Brooklyn’s hip Bedford-Stuyvesant neighborhood,
Biggie is rolling over in his grave right now
Posted on 7/11/20 at 8:40 am to hiltacular
quote:
are getting $1000/wk minimum UI, again they should be able to afford this rent even on UI.
Those soy lattes and cell phone bills aren’t going to pay for themselves
Posted on 7/11/20 at 8:41 am to Elleshoe
With 6 people making UI plus an additional $600 per week, this was a choice not to pay. A few new Yorkers have boycotted paying rent since the 'rona thinking the mayor will cancel the rent owed.
Posted on 7/11/20 at 8:42 am to SlowFlowPro
quote:
which is why RE is unaffordable, which creates major economic issues (especially high gini coefficients), and then the cycle keeps going by pushing more prestige/jobs there, which makes RE more unaffordable, etc etc
This sounds fancy and complicated. Probably a dog whistle for racism.
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