5 ms·

New York is back – but it's terrible news for renters

24 points by andrew_ 5y ago

toomuchtodo 5y ago
https://youtu.be/3Kx-BGzyXH8 https://youtu.be/3Kx-BGzyXH8
- deleted 5y ago
  [deleted]
nojito 5y ago
This is why renting an apartment you couldn’t afford without the pandemic deal was a terrible idea.
- Ekaros 5y ago
  Should have seen it as special offer in special market condition. Now things are moving back so special offers are ending.
stevenhubertron 5y ago
$3,300 for a 3bd in the UES is still a tremendous deal. When I left NYC 10 years ago I was paying very close to that for a place in Greenpoint.
- kevinventullo 5y ago
  Right, later in the article it even says “Currently, the average rent for a 1-bedroom apartment in the Upper East Side is $3,600 per month”. I mean I was paying north of $3k for a 1bd walk-up in Cambridge 7 years ago.
TrackerFF 5y ago
All I can say, to those that are on the fence of leaving: Try it out. I, too, used to play nosebleed rent while rationalizing it all with "But I have family here, I need [things that can be only found in high-COL cities], I have all my friends and network here, living in smaller places is boring" etc. Sure, some of those points were legit. It's not easy to leave family, friends, your network, and job - but if you can, and it doesn't completely ruin your career...try it. I went from a 270 sq.ft apartment, to 1200 sq.ft. - while slashing my rent by $2000 pr. month. I've learned to enjoy new things, especially outdoor activities. Going on hikes used to be a huge hassle in the city, because just getting to a decent spot would take forever...now it's 5 mins from my home. No more rush traffic. I live a 10 min walk from work, compared to using 45-60 mins (minimum) a couple of years ago. Of course, there are cons - lots of things I miss. But with all the money I'm saving, it's really no problem to take a small vacation here and there.
alar44 5y ago
Can someone explain why the biggest city in the US should have rent prices the same as a small town? $3300/mo for a 3 br in NYC sounds like an absolute steal. I pay $1600/mo in a nowhere city for 3 br. Seems about right to me. Demand is crazy high cause everyone wants to live there. Not everyone should be able to afford it. Idk what I'm missing here.
- StanislavPetrov 5y ago
  >a non-renovated fifth floor walk-up with no dishwasher, was listed around $4,000 per month, but when New York's real estate market took a hit — its market value plummeted by nearly 50%. Is your 3br in a 5th floor walk-up in a building that is very likely over 100 years old? Have you seen the state (or the size) of non-renovated NYC apartments in pre-war buildings (pre World War 1)? >'You know, our heat hasn't been working properly since October, the kitchen is not renovated and I'm wedged in between two buildings. She doesn't mention the roaches, which are included for free! Nor does the article mention the size of the apartment. I'd be willing to wager that this decrepit old 3 br apartment is 1/2 to 1/3rd the size of the 3 br apartment you pay $1600 a month for. >The reality is, if my rent goes up to around $4,000, then I might as well look for a two-bedroom building with a doorman and dishwasher." Without a doorman she also gets the benefit of being able to experience the plight of homelessness in her very own doorway even while having the privilege of paying $3,300 a month. As a lifelong New Yorker, I can promise you living here isn't all its cracked up to be unless you are very wealthy.
  - alar44 5y ago
    Idk. Try living in a small town with no entertainment or food other than burgers and wings. It's literally hell.

24 points by andrew_ 5y ago

toomuchtodo 5y ago

https://youtu.be/3Kx-BGzyXH8 https://youtu.be/3Kx-BGzyXH8

deleted 5y ago
[deleted]

nojito 5y ago

This is why renting an apartment you couldn’t afford without the pandemic deal was a terrible idea.

Ekaros 5y ago
Should have seen it as special offer in special market condition. Now things are moving back so special offers are ending.

stevenhubertron 5y ago

$3,300 for a 3bd in the UES is still a tremendous deal. When I left NYC 10 years ago I was paying very close to that for a place in Greenpoint.

kevinventullo 5y ago
Right, later in the article it even says “Currently, the average rent for a 1-bedroom apartment in the Upper East Side is $3,600 per month”. I mean I was paying north of $3k for a 1bd walk-up in Cambridge 7 years ago.

TrackerFF 5y ago

All I can say, to those that are on the fence of leaving: Try it out. I, too, used to play nosebleed rent while rationalizing it all with "But I have family here, I need [things that can be only found in high-COL cities], I have all my friends and network here, living in smaller places is boring" etc. Sure, some of those points were legit. It's not easy to leave family, friends, your network, and job - but if you can, and it doesn't completely ruin your career...try it. I went from a 270 sq.ft apartment, to 1200 sq.ft. - while slashing my rent by $2000 pr. month. I've learned to enjoy new things, especially outdoor activities. Going on hikes used to be a huge hassle in the city, because just getting to a decent spot would take forever...now it's 5 mins from my home. No more rush traffic. I live a 10 min walk from work, compared to using 45-60 mins (minimum) a couple of years ago. Of course, there are cons - lots of things I miss. But with all the money I'm saving, it's really no problem to take a small vacation here and there.

alar44 5y ago

Can someone explain why the biggest city in the US should have rent prices the same as a small town? $3300/mo for a 3 br in NYC sounds like an absolute steal. I pay $1600/mo in a nowhere city for 3 br. Seems about right to me. Demand is crazy high cause everyone wants to live there. Not everyone should be able to afford it. Idk what I'm missing here.

StanislavPetrov 5y ago
>a non-renovated fifth floor walk-up with no dishwasher, was listed around $4,000 per month, but when New York's real estate market took a hit — its market value plummeted by nearly 50%. Is your 3br in a 5th floor walk-up in a building that is very likely over 100 years old? Have you seen the state (or the size) of non-renovated NYC apartments in pre-war buildings (pre World War 1)? >'You know, our heat hasn't been working properly since October, the kitchen is not renovated and I'm wedged in between two buildings. She doesn't mention the roaches, which are included for free! Nor does the article mention the size of the apartment. I'd be willing to wager that this decrepit old 3 br apartment is 1/2 to 1/3rd the size of the 3 br apartment you pay $1600 a month for. >The reality is, if my rent goes up to around $4,000, then I might as well look for a two-bedroom building with a doorman and dishwasher." Without a doorman she also gets the benefit of being able to experience the plight of homelessness in her very own doorway even while having the privilege of paying $3,300 a month. As a lifelong New Yorker, I can promise you living here isn't all its cracked up to be unless you are very wealthy.
- alar44 5y ago
  Idk. Try living in a small town with no entertainment or food other than burgers and wings. It's literally hell.