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And yet the rent in NYC just seems to go up and up.
by mupuff1234 1y ago
And yet the rent in NYC just seems to go up and up.
- hunglee2 1y agorental prices are driven by P/E redirecting funds to the purchase of housing stock, which they then use to jack up the rent. Fuedalism is returning by stealth.
- hdgvhicv 1y agoIf there’s demand for 5 million units and supply of 6 million prices will go down as 1 million units will be empty If there’s demand for 5 million units and supply of 4 million, prices will go up and 1 million will move out of the city
- georgemcbay 1y agoYou conveniently left out the part where many large corporate landlords collude by using software like RealPage to enable widescale price fixing.
- hdgvhicv 1y agoAs do small landlords. they can only do this because supply is so constrained.
- beowulfey 1y agothat is also assuming the demand is atomic when that isn't necessarily the case. A lot of that pooled demand can come from singular sources. in other words, not all demand is created equal
- ipaddr 1y agoIn your first case they increase rent as a group and have 80+% occupancy. In your second case they increase rent and people are forced into having roommates.