Not 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?
Rents are dropping across the US
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Re: Rents are dropping across the US
#12"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
#13"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
#14Not 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
#15Without moving, I got 40% off my rent for six months in the middle of London. I'd encourage tenants who haven't asked for a discount yet to do so.
Re: Rents are dropping across the US
#16"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.
But I see concern if you're with someone that hasn't really made any statements or really provided any indications beyond "for the duration of the emergency."
Re: Rents are dropping across the US
#17> "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.
It's more than what 50% of entire households make, and that's before taxes are removed.
Re: Rents are dropping across the US
#18Not 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
#19Re: Rents are dropping across the US
#20"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 gentri…