*rents house on Staten Island with 3 other roommates*

(http://www.autoadmit.com/thread.php?thread_id=4326275&forum_id=2#38708879)

Rising rents reflect a reduction in the number of apartments available in new developments during a period of strong job growth, said Nancy Packes, a rental market consultant.

“There is very strong demand now,” she said.

Monthly median rents rose to the highestlevels in at least a decade.

Summer is the peak rental season. Many recent graduates start their first jobs in the city, and families move in before the beginning of school in September. As a result, prices tend to rise every year.

But this July’s price spike was unusual, said Jonathan Miller an appraiser and president of Miller Samuel Inc., who prepared the Elliman report.

He said median Manhattan rents, after taking into account landlord concessions, spiked 6.5% from the figure in July 2018, the biggest such increase in about four years. In Brooklyn, the comparable figure was up 3.1%.

Mr. Miller attributed much of the increase to a prolonged slowdown in the apartment sales market. Potential condo buyers are staying in rental apartments longer, as they wait for sellers to cut prices, he said.

The tightening market allowed landlords to trim concessions used to lure renters, such as one or more months free rent or owner-paid brokerage fees. In Manhattan 30.6% of apartments were rented with concessions down from 35% in July 2018. In Brooklyn, 34.4% of leases had concessions, down from 41.4% during the same period.

Rising employment also contributed to the hunt for apartments. New York City added 102,400 jobs in the year ending in June 2019, an increase of 2.2%, according to the New York State Department of Labor.

Jeannie Kim was one of the new arrivals who found the search for a Manhattan apartment bewildering. She and her fiancé were moving from San Diego after he got a marketing job in Manhattan and were looking for a one-bedroom apartment that had an elevator and was dog friendly.

But as soon as she would find an apartment and arrange for a friend to visit, the apartment was rented to someone else. “You see it, and it was gone. It happened very quickly,” she said.

Eventually she turned to Paola Shiery, a broker at Citi Habitats, who helped her find a not-yet listed apartment in a nine-story prewar apartment building on West 51st Street near Eighth Avenue for $2,800 a month. This time she had her paperwork ready and was able to act quickly.

(http://www.autoadmit.com/thread.php?thread_id=4326275&forum_id=2#38709332)

https://streeteasy.com/building/1-brooklyn-bay-condominiums#tab_building_detail=3

(http://www.autoadmit.com/thread.php?thread_id=4326275&forum_id=2#38709256)

1 Brooklyn Bay $4.4k for 2-bd at 1,183 sq ft https://streeteasy.com/building/1-brooklyn-bay-condominiums#tab_building_detail=3

Compare to $7.5k for 2-bd at 1,562 sq ft in Williamsburg https://streeteasy.com/building/two-northside-piers

(http://www.autoadmit.com/thread.php?thread_id=4326275&forum_id=2#38709283)

Please feel free to link.

(http://www.autoadmit.com/thread.php?thread_id=4326275&forum_id=2#38709328)

I hope all these creative zoomers stay in bumfuck now and make some art.

(http://www.autoadmit.com/thread.php?thread_id=4326275&forum_id=2#38709207)

Yes, that's the place to address earth overpopulation

*Lagos and Chongqing hit 1B each*

(http://www.autoadmit.com/thread.php?thread_id=4326275&forum_id=2#38709279)

hth

(http://www.autoadmit.com/thread.php?thread_id=4326275&forum_id=2#38709287)

There are a ton of working/middle class blacks who bought them in the 70s/80s/early 90s who are effectively millionaires now.

People who are renting apartments in them range anywhere from yuppies to poors getting Section 8.

NYCHA, the public housing agency in NYC, owns some brownstones.

(http://www.autoadmit.com/thread.php?thread_id=4326275&forum_id=2#38709376)

As a result they're worth a lot of money.

(http://www.autoadmit.com/thread.php?thread_id=4326275&forum_id=2#38709397)

Also, New York was teetering on the edge of bankruptcy at the time and was hemorrhaging population; the rental market was exactly booming.

(http://www.autoadmit.com/thread.php?thread_id=4326275&forum_id=2#38709433)

hth

(http://www.autoadmit.com/thread.php?thread_id=4326275&forum_id=2#38709485)