31–40 of 93 posts
I don't understand how. The mortgage rates are high, so many people who would otherwise have bought a home are not jumping in. So rents will go up. I have seen this happen too
https://archive.is/y28IG I've been looking for a decent 1BR in Manhattan. For something clean and decent, the floor is $4,500. The 40x rent annual income requirement by many landlords, one needs to be making $180,000. sigh.
I wish the government would do more to control this terrible situation. If you can't afford a home with a 40 hour job, something is sick in this country. Even an apartment is beyond reach. Blackrock and Vanguard are blights on this planet.
What is the recent hit on Vanguard I have seen going around? Aren't they mostly investing in indexs which would necessitate blindly buying stock in companies and of course they do it on a massive scale due to their size? Is Vanguard in some way encouraging companies to do evil things?
https://archive.is/y28IG I've been looking for a decent 1BR in Manhattan. For something clean and decent, the floor is $4,500. The 40x rent annual income requirement by many landlords, one needs to be making $180,000. sigh.
Why would you live in NY without an income like that?
https://archive.is/y28IG I've been looking for a decent 1BR in Manhattan. For something clean and decent, the floor is $4,500. The 40x rent annual income requirement by many landlords, one needs to be making $180,000. sigh.
Why would you live in NY without an income like that?
I don't understand how. The mortgage rates are high, so many people who would otherwise have bought a home are not jumping in. So rents will go up. I have seen this happen too
Why would that affect anything? Reduced demand for house purchases should result in higher supply for rental housing as owners rent it out instead of sell.
Earlier quoted context omitted.
A reasonable question. What are the non-negotiables that compel people to live in Manhattan? Is it being able to walk to noodles 24/7, or something else?
I think some of that for sure. I can't speak for others, but for me, I actually like big cities. Watching people. Don't need to own cars to get around. Food variety. Interesting buildings. Cultural stuff. I guess that's why people in NY pay almost 45% of their after tax income towards housing related expenses, which is the highest in the U.S.
Earlier quoted context omitted.
> If you can't afford a home with a 40 hour job I think this has always been the difference between a "job" and a "career". My first full time job was making pizzas. I worked 40 hours a week, dropping sauce and toppings onto squished bread. Nobody would have been able to afford a pizza if I would have been able to afford a home, in my state.
Are you sure? Restaurant labor usually works out to a small percentage of the price of the food. Besides that, people could afford pizza back when minimum wage was much higher adjusted for inflation.
Earlier quoted context omitted.
Why would you live in NY without an income like that?
What I always found interesting about Tokyo was that you could live in all of the various hotspots around the city, alone, on a semi reasonable middle class salary. You would live in a tiny little box, but you could be a 10 minute walk to the middle of Shinjuku or Shibuya. If you are single and don't care about cooking at home it really seemed like a great option. I don't know why in the US we have to be priced out o…
https://archive.is/y28IG I've been looking for a decent 1BR in Manhattan. For something clean and decent, the floor is $4,500. The 40x rent annual income requirement by many landlords, one needs to be making $180,000. sigh.
https://www.relatedrentals.com/apartment-rentals/new-york-ci... ($4,150)