Posted on 03/11/2022 7:56:10 AM PST by millenial4freedom
In 1972 I rented an old farmhouse on 5 acres for $50 a month. Puget Sound region, 20 miles from Seattle.
It continues to show that people do not REALLY believe the global warming fear mongering. I mean won’t New York get swallowed by rising ocean levels?
Landlords with large portfolios of property can take the loss of income from vacant properties and shelter other income. Lowering the price would have a ripple effect across the rest of their portfolio.
Many landlords are not going to put their properties back on the market until New York State and New York City rewrite their laws to prevent landlords from getting abused from such things as The COVID-19 Emergency Eviction and Foreclosure Prevention Act which forced landlords to continue pouring money into properties where the tenants weren't paying rent.
In one publicized case, a landlord was forced into bankruptcy and had to sell their personal home in order to make payments on properties where the tenants weren't paying rent. The landlord's pleas were refused by the court and the landlord actually risked criminal charges if they didn't make the necessary repairs.
Many of these apartments were off the market prior to COVID-1984. Some of the new developments along Manhattan's west side couldn't sell and in order to avoid dropping the price and attracting less desirable tenants, the owners removed the listings.
On a related note, politicians in San Francisco are hoping to tax vacant apartments because there are 40,000 empty units in the city.
Sure, if you in a real world - not sure it’s real anymore.
Part of the reason is there are people who have to be here (big medical community, some finance people etc.) and they don’t want to buy because of all the problems in the city, so they want to rent. This is driving rents up.
They won’t report on the high vacancies, or that those rents are ASKING prices, not what’s being paid.
The rents are at an all-time high, and the units are sitting vacant.
Yup—we need to see the vacancy numbers to see what is really happening.
In addition, publicly reported rents can be very misleading. Landlords who need to get tenants can give one or two free months, as just one example. They could also toss in free parking for a period of time.
The rents are at an all-time high, and the units are sitting vacant.
LOL....that makes sense....in XiDun land, I guess.
That guy! Classic, dfwgator.
If I lived in NYC I’d vote for him for mayor, what the heck.
All you FReepers living in NYC best get out now, because something evil is coming your way that you won’t survive.
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