5 ms·
> 50,000 moving from NYC is likely going to affect rents there You're just making things up. Despite losing 10-20,000 people every 3 months, NYC rent increased
by listenallyall 3y ago
> 50,000 moving from NYC is likely going to affect rents there
You're just making things up. Despite losing 10-20,000 people every 3 months, NYC rent increased steadily. Rents did drop initially at the start of the pandemic when outflows were 40-50,000+ per quarter, but even as the outflows remain greater than 30,000 per quarter, rents have fully recovered and continued increasing to record levels. And you believe that handing out money freely is going to lower the rent? Come on man.
net outflow chart:
https://www.crainsnewyork.com/economy/are-people-leaving-new-york-migration-trends-show-recovery https://www.crainsnewyork.com/economy/are-people-leaving-new...
rent price chart:
https://nypost.com/2023/04/13/manhattan-median-rents-reach-an-all-time-high-of-4175-month/ https://nypost.com/2023/04/13/manhattan-median-rents-reach-a...