DarthDialUP t1_j84obzg wrote
Reply to comment by colourcodedcandy in Median New York rent passes $4,000 a month in January by geoxol
And what would make existing supply drop in price or stay level if existing supply is in demand? What I am saying here is that as long as there is demand, as there is right now, prices will continue to go up. New development will bring new demand, as it has in the past. Covid was an outlier. Prices will continue to rise, people want to be here. Middle class long term renters will get squeezed out. As is tradition.
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