4 ms·
The building we moved out of started doing referrals again, about 15% (according to a person I talked to at the leasing office) of their apartments are currentl
by SSchick 4y ago
The building we moved out of started doing referrals again, about 15% (according to a person I talked to at the leasing office) of their apartments are currently empty and they are still hiking prices, this isn't supply & demand, this is price systematic price gauging.
- HDThoreaun 4y agoAnecdotes are fun, and I’m sure many landlords are doing this, but the data does not generally show it. Nyc is sitting at 4% vacancy, only 1% above all time lows.
- yterdy 4y agoThat's an anecdote (regarding a single market that's known to be an outlier). Meanwhile, my experience squares with GP's. Rents don't have to follow S+D because downturn concessions can be covered by "specials" that effectively lower out-of-pocket costs for renters temporarily while keeping the market rate the same. Essentially, all discounts that would have been reflected in a lower market rate in the past are now internalized on a property manager's balance sheet.