3 ms·
Where in the world does that apply? NYC has some of the most tenant-friendly rent control laws I know of, and most rent-controlled units are fairly close to mar
by grmarcil 13y ago
Where in the world does that apply? NYC has some of the most tenant-friendly rent control laws I know of, and most rent-controlled units are fairly close to market rate, and the legends you hear about exist but are so rare they might as well not.
Urban centers have a pretty finite supply of housing, so you're looking at what amounts to a long-running auction for rents among residents. People are generally pretty willing to "bid" 25-35% of their income on rent (or more, depending on the area and demographic), so as average salary rises, rents are going to rise too, unless you're expecting a major urban retreat sometime soon.