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It’s exasperating how many people will fight this. I believe it has been supported by research as well. Anecdotal, but I experienced it firsthand: Several year
by macNchz 3y ago
It’s exasperating how many people will fight this. I believe it has been supported by research as well. Anecdotal, but I experienced it firsthand:
Several years ago I was living in a lovely, historic, but no-frills apartment in a desirable area (Cobble Hill, Brooklyn) when several new “luxury” apartment buildings opened nearby, all around the same time. They were only a bit more expensive but offered lots of amenities (doorman, elevator, gym etc) that my building didn’t have.
The impact was remarkable: when other apartments in my building went on the market they sat unrented for weeks, when they’d previously rented in hours. The landlord actually lowered the rent on them! In NYC! Our lease was up soon after, and we managed to negotiate that they gut renovate our kitchen in exchange for extending our lease.
- blharr 3y ago>They were only a bit more expensive Not to be a doubter, but it seems like this note completely changes the context of the problem they stated. A slightly more expensive housing is competitive with the current housing you had. A higher-end luxury building being built costing 10x as much would likely have different effects.