Freddy-Sez t1_j7x1fna wrote
Reply to comment by tiregroove in Median New York rent passes $4,000 a month in January by geoxol
It’s funny to me that you are blasting CNBC for this report while uncritically accepting a Curbed story that asserts people didn’t come back to the city by citing USPS change of address filings, which are virtually meaningless as a measure of short-term population shifts.
Does anyone who lived through 2020 honestly believe there was not a massive influx of people back into the city in 2021 and 2022? Did you experience what it was like to try to rent an apartment in summer 2021?
Price fixing is always an issue but the idea that surging demand isn’t a major contributing factor here is ludicrous
Effeted t1_j7xnwk9 wrote
People are just looking for rage porn to find someone to blame for their rent
Welcome to the highest demand market in the entire world lol
colourcodedcandy t1_j813qft wrote
There are people in this very thread disputing peer-reviewed research because "it's written by luxury housing developers" -- these people are beyond redemption and don't believe in what economists have to say. There's little point in debating tbh
Papa--Mochi t1_j7z4umt wrote
>Does anyone who lived through 2020 honestly believe there was not a massive influx of people back into the city in 2021 and 2022?
I know one entity that doesn't believe that; the census. It shows that population in summer 2021 was 400,000 down on April 2020.
Demand to live in NYC is depressed, likely temporarily, and right now we're losing more people than we're gaining.
I totally understand why people will do a ton of mental gymnastics to avoid accepting this fact, but it is what it is.
We like it here. That's all that matters.
Freddy-Sez t1_j7zkg44 wrote
That’s an estimate from 18 months ago. Rents peaked a full year after that
Papa--Mochi t1_j7zkyii wrote
I know, but you said summer 2021 was difficult to rent an apartment. Given population hadn't recovered, that clearly wasn't due to demand, but artificially limited supply.
lupuscapabilis t1_j84kfus wrote
Rents peaked once landlords were again able to evict people.
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