Rents are dropping across the US
edition.cnn.com
Rents are dropping across the US
1–10 of 400 posts
Re: Rents are dropping across the US
#2Not only are they dropping, the incentives being offered around NYC are pretty nice. 50% off security deposit and 1 month free are what I've recently received. I checked back to see a week or two after and they were offering 2 months for free with 50% off the deposit.
Re: Rents are dropping across the US
#3"across the US" as in "in expensive coastal cities."
I don't know the broader trend but, anecdotally, I know people who have/are in the process of moving out of cities for more rural locations. One couple I know just moved out of a major Northeast city to the coast of Maine. Others are seriously considering vacating NYC etc.
With many tech industry jobs mostly WFH until the end of the year and the future in general uncertain, a lot of people, especially those with leases coming up for renewal, are thinking this is a good time to make a move.
ADDED: I suppose this is good news for people looking for cheaper city housing prices. Maybe not so good for those who were especially attached to either the vibrant city life or busy office life.
Re: Rents are dropping across the US
#4Not only are they dropping, the incentives being offered around NYC are pretty nice. 50% off security deposit and 1 month free are what I've recently received. I checked back to see a week or two after and they were offering 2 months for free with 50% off the deposit.
Are they still doing salary requirements of 42x monthly rent unless you have a guarantor?
Re: Rents are dropping across the US
#5> "It has been crazy," Freund said, "but we definitely got a very good deal."
This reads like a parody to me. Paying 5000 dollars per month in rent and calling it a good deal. That's more than what many people even make in salary.
Re: Rents are dropping across the US
#6"across the US" as in "in expensive coastal cities." I don't know the broader trend but, anecdotally, I know people who have/are in the process of moving out of cities for more rural locations. One couple I know just moved out of a major Northeast city to the coast of Maine. Others are seriously considering vacating NYC etc. With many tech industry jobs mostly WFH until the end of the year and the future in general u…
> Maybe not so good for those who were especially attached to either the vibrant city life or busy office life.
Meh, if there's less people living in cities that's cheaper rent for me.
What's interesting is what impact this could have on the carbon footprint. Generally speaking, higher density living is associated with lower carbon footprint per capita.
Re: Rents are dropping across the US
#7"across the US" as in "in expensive coastal cities." I don't know the broader trend but, anecdotally, I know people who have/are in the process of moving out of cities for more rural locations. One couple I know just moved out of a major Northeast city to the coast of Maine. Others are seriously considering vacating NYC etc. With many tech industry jobs mostly WFH until the end of the year and the future in general u…
This is very real; anecdotally, I am considering vacating the Washington D.C. metro area for this exact reason. The biggest difficulty is uncertainty of government roles, e.g. back to work/office, in the future depending on the posture of the administration. The market is booming here and there aren't any slumps in pricing or inventory.
Re: Rents are dropping across the US
#8"across the US" as in "in expensive coastal cities." I don't know the broader trend but, anecdotally, I know people who have/are in the process of moving out of cities for more rural locations. One couple I know just moved out of a major Northeast city to the coast of Maine. Others are seriously considering vacating NYC etc. With many tech industry jobs mostly WFH until the end of the year and the future in general u…
People are doing more than that. A former colleague caught folks working remote overseas as well.
Re: Rents are dropping across the US
#9> "It has been crazy," Freund said, "but we definitely got a very good deal." This reads like a parody to me. Paying 5000 dollars per month in rent and calling it a good deal. That's more than what many people even make in salary.
The West Village is a bit of an outlier when it comes to rent because it is in NYU-land, and people attending NYU are not shy about taking whatever it is they need in loans to pay the expenses of going to NYU.
Re: Rents are dropping across the US
#10"across the US" as in "in expensive coastal cities." I don't know the broader trend but, anecdotally, I know people who have/are in the process of moving out of cities for more rural locations. One couple I know just moved out of a major Northeast city to the coast of Maine. Others are seriously considering vacating NYC etc. With many tech industry jobs mostly WFH until the end of the year and the future in general u…
> Maybe not so good for those who were especially attached to...the vibrant city life
I think it's good for those people too, because urban housing prices will also go down as people move away. It could become more affordable to have that vibrant city life alongside the others who actually want to be there and don't just have to be there.
I'd personally be really excited to see Austin's skyrocketing growth and gentrification take a hard slowdown. So many of the locals and local businesses that made Austin so charming and "weird" in the first place have been driven out by the swelling cost of living.