Why Rent In NYC Is Out Of Control Right Now

I guess it ain't much fun in Fun City no more. Gotham was never cheap for rentals, well sorta. I grew up in Sunset Park, Brooklyn in the 1950's/60's. After military service I lucked into a swell studio apartment on 3rd Ave near 75th Street (aka Bay Ridge Pkwy) in Bay Ridge. I even got use of the backyard. Rent was $90/month with Brooklyn Union Gas and Con Ed electric included. It cost me a $45 deposit to get a Ma Bell phone connected. Rent increased over the fourteen years I lived there and was $225/month (ah, but no more free gas/electric) when I left the borough of churches in 1988 for greener pastures upstate. Now, even crapola neighborhoods are prohibitively expensive. No regrets for this ex-Brooklynite. You wanna live there? Take a tip from the Isley Brothers... "it's your thing, do what ya wanna do".

Geee i dont know. Could it be the millions of people they are letting in? Then giving free money? Oh, and also its funny to see kids complain they cant live the life of the rich and famous when they are not

😊 that's good so I hope you do better

You're very brutal song

Help 😢😢😢😢😢

Insanity at its finest!

Years ago, I inherited some property in NYC. I did not go to NYC. I sent a lawyer with one instruction. Sell it.
Any smart person neither goes to nor lives in the Cesspool called NYC.

Far left wing policies and illegals ruined NYC

Why not live across the river in Jersey?

Taxes baby. Free stuff is not really free.

Poor financial literacy, that’s what I’m getting from this.

Evergreen video

Nope! Not worth it!

Dam, I thought I had it bad in Boston.

I just showed this video to a group of high school economics students in the Midwest. Their reaction was:
1. Who wants to live in a big, dirty city like that?
2. They don't even have grass or fresh air
3. You couldn't pay me to live in a dump like that
I explained the cuisine and culture are outstanding, but they can't even comprehend why anyone would want to live like that. I also explained that the only way situations like this normally persist is due to government regulations and intrusions.
High rent should incentivize enough new construction to alleviate the price pressures, but progressive-run cities can't get out of their own way. Interesting video, but most rarely get to the underlying economic causes of such problems and how they're normally man-made.

If you live in NYC, stay there.

You voted for rent control and liberal policies. No thank you. Don't ruin my country

That Zillow guy is also just a complete stooge for the system...the issue isn't necessarily the low supply and high demand, that has always been the case for NYC, the issue is the ridiculous rules (why 40x the salary?!), property as an investment rather than a human necessity mindset, and shameless price-gouging of landlords whose greed knows no bounds.

Landlords are disgusting! How could they charge $4K for a two bedroom apartments. If they outprice tenants out of the rental market and have empty apartments what will they then. How do they sleep at night?!!

Love NYC, have visited it often but would never move there because of the rent and the size of the apartments.

I'm a landlord living in the house and charge the tenant $1550 for a two bedroom since 2020.' I haven't increased the rent not once! She hasn't paid rent in over a year. And in NY tenants can get away with everything! Landlords have no rights! trust me. And most landlords are not big companies! They are little working people like me!

It's across the WHOLE country, landlords are allowed to be extortioners and so they raise rent prices at will, no consideration, no an ounce of balance in their greedy sense of reason.
I HATE that so much focus, no matter the subject, is always on stinking New York, which may be a reason why the nonsense elsewhere goes ignored.
All news networks do the same. Morons.

1998

Because people they dont think with they heads anymore . They only see how much money they can get but never countant how much money they spend . Its mathematic . If you wanna safe money new york is hard you have to make some money to safe . Even people make 100k are broke . They is rule more you make more you spend plus taxes . 2 years ago is for 2 years ago now is different . Smart people moved south and they live way better quality of life . I love New York dont give me wrong . Its very good for expirience but thats it . If you make 100k after all taxes you lucky if you get 75k rest of it you do the math probably around 800 to 100 for grocery you do the math of rest of it

GREED RUN AMUCK.

Algorithms are price fixing rents. ( real page)

if take 2 year to evict unpay tenant. landlord will not rent out if tenant not qualify. NY need much fair rental law to free the market.

The African American young woman, is just getting on my last nerve. She has a very (Entitlement) attitude. If she thinks, having a job, making a decent salary and being single, makes her, the perfect tenant. She's completely delusional. If that's the case. Why did she need her mother to co-sign for her apartment ? She didn't say anything about her credit score or if she carries a bunch of debt. Most people who live in NYC "aren't" making over 100K a year. If she can't survive making over 100K. Then, something is wrong with "HER". She thinks, she deserves to live in "The Penthouse". She wants to drink Champagne 🍾, While she's making "Beer"🍺 money 💰. If she can't afford her rent. Then MOVE somewhere, that you can afford. Good Bye Lady. It doesn't surprise me, that she's single.

So she cant afford NYC but moves to London

It’s simple move out of the city.

That poor Asian girl who claims to be 22

The old Bait and Switch because people won't leave high rent areas alone. The luxury apartments in Collierville Tennessee are $1400 a month. Under Biden it went up from 1200

Making 6 figures and having most of my income go on rent. WTMF

Making 6 figures and having most of my income go on rent. WTMF

Tax increases are unregulated.

ao many restrictions on upgrading units they keep them.vacsnt

fix your mess... no one wants new yorkers or commiefornians going to other states and messing up their cities with the politics they bring... you wanted this.. you voted for this so now sit in it

It’s insane that the mayor and Governor haven’t come together to do something

Girl cant afford ny so she moves to London???!!

What causes inflation cause is it population and immigrations.

Rent is high solely because the government makes it hard to build. This comes in the form of zoning and the historical committee. This has nothing to do with landlords - an economist

Born and raised and lived 26 years in Manhattan, until the city, via sky-high rents, told all the artists, musicians, cops and Uber drivers to get out and don't come back. The only thing I miss about NYC is the Film Forum. Broadway has been overpriced crap for years, I saw over 300 Broadway shows due to my job. Central Park is cool. You get the city you want and you want a city full of yuppies, trust fund kids and celebrities. Last one out, close the door! All the cool people will go somewhere else and eventually all you money people will find that place and ruin it too.

The "I want to live close to the fun, restaurants and amenities but I'm too poor to enjoy any of them" reality...

Move out of nyc

Time to leave

If you dont make at least 150k a year you should leave ny

I’m making 39 an hour and I can’t afford to find a place for my own smh, after cutting pension, 401 k, taxes and union dues. I’m left with nothing

Can anyone say GREED

I'm so happy my mom passed on her public housing apartment to me when she moved back to the south. Definitely a wallet saver. Thanks mom.

I got on a waitlist for my rent controlled Manhattan apartment in 2006, &shortly after the housing crash, i was called and i took a place. My 1.5 bedroom is a tenth of what it should be at $400, and no utilities to pay except $22 internet that someone keeps paying (i signed up for a connectivity program). As a child of immigrants and native NYCer, the only place other than NYC i know is my parents homeland.
... and i wasnt planning to stay in this place so long but i remember looking at apartments at the time i signed up for the rent control and 1bedrooms were 900-950$, NOW? they want $3-4K for those 1bedrooms.... so yeah, i ain't moving.....and if i ever gotta leave NYC, I'm liquidating at moving out the country, it's too expensive everywhere for no reason, even if i move to a place with the same rent, there's no promise that it won't increase dramatically, not to mention the other added costs of living in another place that likely won't have such an ease of access infrastructure.

Easy. Just leave NYC and don’t look back