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.

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harmlessdjango
harmlessdjango
895 days agoReddit

I wonder why there aren't enough people in Manhattan to support the businesses there 馃

MyTribeCalledQuest
MyTribeCalledQuest
495 days agoReddit

My landlord's trying to ask 83% more. Wish it were only 20-30%...

soflahokie
soflahokie
395 days agoReddit

This plus double digit inflation in the city is going to be brutal for the vast majority of residents

threedollarwordrate
threedollarwordrate
345 days agoReddit

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?

Hrekires
Hrekires
165 days agoReddit

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/鈥媘onth... now I'm seeing like +$2500 in the same neighborhood.

DahhhBills
DahhhBills
134 days agoReddit

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.

fshlash
fshlash
115 days agoReddit

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!

Shawn_NYC
Shawn_NYC
54 days agoReddit

Inflation hasn't hit most renters yet. People are absolutely not prepared for what the lease renewals are going to look like in 2022. It's going to be a massacre.