Manhattan Rents Were the Highest Ever for December
The surge marks a dramatic turnaround from a year ago, when even the most bullish brokers predicted a years-long recovery.
I wonder why there aren't enough people in Manhattan to support the businesses there 🤔
My landlord's trying to ask 83% more. Wish it were only 20-30%...
This plus double digit inflation in the city is going to be brutal for the vast majority of residents
Isn't this just an inventory scam, ie landlords keeping apartments off the market and colluding to push prices up? Why do so many news outlets let RE brokers just spout off any bogus stats they want? Why should we believe these clowns?
Genuinely want to sell my house and move back into an apartment in the city, but man it's hard to justify when my mortgage has basically stayed the same for the 3 years I've been here while rent gets jacked up every year.
The apartment in Ridgewood we moved out of in 2018 was a 2-bedroom for $1800/month... now I'm seeing like +$2500 in the same neighborhood.
Moving back in December was not a fun experience lol. I went back to my original building in the West Village and my old apartment was asking north of $4k. Not going to pay that for a rental, and definitely not for a studio.
The worst part wasn't the prices though. The worst part was the inventory. It seemed at times like I was picking from scraps. Couldn't believe the lack of available units. I finally found something further uptown after my third visit, but it was rough.
Same in Brooklyn! It's been crazy! My rent is going to go up by 800 a month which means I gotta go somewhere else!