No Inflation: $2K/mo for apartment
#1
Posted 14 July 2007 - 02:46 PM
NEW YORK (AP) - If you're looking for a Manhattan apartment, be prepared to shell out about $2,000 a month—unless, of course, you'd like a bedroom to go with it. Studio apartments in New York's most expensive borough went for an average of $1,995 a month last year, according to an analysis released Friday by Citi Habitats, a Manhattan rental brokerage firm. That's up from $1,659 in 2002.
The average rent for a one-bedroom apartment shot up to $2,737, compared to $2,227 in 2002, and two-bedroom apartments climbed to $3,893, from $3,198 in 2002. Three-bedroom apartments saw the largest percentage increase: more than 36 percent, from $4,059 in 2002 to $5,534 last year.
The increase did nothing to decrease demand. The overall rental vacancy rate for Manhattan last year was less than 1 percent.
He attributed the bulging rents to the city's strong economy. In addition, the U.S. dollar is low against foreign currencies, "and we're a very popular destination for foreigners," Dente said.
Citi Habitats based its data on 50,000 deals the firm closed from 2002 to 2006.
About 75 percent of housing in Manhattan is comprised of rental properties.
LINK
BIGGEST SCIENCE SCANDAL EVER...Official records systematically 'adjusted'.
#2
Posted 14 July 2007 - 04:11 PM
#3
Posted 14 July 2007 - 05:15 PM
#4
Posted 14 July 2007 - 05:17 PM
By Rik Kirkland, Fortune July 12 2007: 9:46 AM EDT
(Fortune Magazine) -- Just how red-hot is the current worldwide expansion? "This is far and away the strongest global economy I've seen in my business lifetime," U.S. Treasury Secretary Hank Paulson declared on a recent visit to Fortune's offices.
LINK
BIGGEST SCIENCE SCANDAL EVER...Official records systematically 'adjusted'.
#5
Posted 14 July 2007 - 07:01 PM
Edited by pdx5, 14 July 2007 - 07:04 PM.
#6
Posted 14 July 2007 - 07:04 PM
BIGGEST SCIENCE SCANDAL EVER...Official records systematically 'adjusted'.
#7
Posted 15 July 2007 - 09:28 AM
To go with your $55 bottle of water:
NEW YORK (AP) - If you're looking for a Manhattan apartment, be prepared to shell out about $2,000 a month—unless, of course, you'd like a bedroom to go with it. Studio apartments in New York's most expensive borough went for an average of $1,995 a month last year, according to an analysis released Friday by Citi Habitats, a Manhattan rental brokerage firm. That's up from $1,659 in 2002.
The average rent for a one-bedroom apartment shot up to $2,737, compared to $2,227 in 2002, and two-bedroom apartments climbed to $3,893, from $3,198 in 2002. Three-bedroom apartments saw the largest percentage increase: more than 36 percent, from $4,059 in 2002 to $5,534 last year.
The increase did nothing to decrease demand. The overall rental vacancy rate for Manhattan last year was less than 1 percent.
He attributed the bulging rents to the city's strong economy. In addition, the U.S. dollar is low against foreign currencies, "and we're a very popular destination for foreigners," Dente said.
Citi Habitats based its data on 50,000 deals the firm closed from 2002 to 2006.
About 75 percent of housing in Manhattan is comprised of rental properties.
LINK
I live in Manhattan--the article is, unfortunately, accurate. Those of us who managed to get hold of rent controlled or rent stabilized apartments literally can never afford to move. Two friends of mine got married. She had a rent stabilized apartment that wasn't big enough for the two of them. He had same thing. They couldn't afford an apartment that WAS big enough for two of them so they each kept their apartments and now live together--in two places!
Barbara R.
#8
Posted 15 July 2007 - 11:51 AM
so they each kept their apartments and now live together--in two places!
See. There IS a bright side.
BIGGEST SCIENCE SCANDAL EVER...Official records systematically 'adjusted'.