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Rents above 2007 levels in New York


shalab
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I went to New York last week for the first time in my life..and I was quite impressed! I'm from Montreal and I must admit I don't understand how people can afford such prices to rent?! I'm paying like 5 times less per month than in Manhattan, but I don't think that all people in Manhattan are paid 5 times more than in Montreal? I am young and still surprised that there are so many rich people in the US that can afford to pay more than 4000$ a month to rent a one-bedroom appartement!

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Rents are way higher than 2007 here in San Francisco. That is, if you can find a place. I've heard of rental places having 30 applicants standing in line to just see the place.

 

Its looking a lot like the days of the dot com boom here. We found it much cheaper to buy than to rent. While real estate prices have not gone up in the city, Palo Alto has seen an 18% jump since last year. What recession????

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Rents are way higher than 2007 here in San Francisco. That is, if you can find a place. I've heard of rental places having 30 applicants standing in line to just see the place.

 

Its looking a lot like the days of the dot com boom here. We found it much cheaper to buy than to rent. While real estate prices have not gone up in the city, Palo Alto has seen an 18% jump since last year. What recession????

 

I cannot agree more. SF is f**cking insane. I first hand had to battle exactly 30 people to rent an apartment. The bay area is absolutely dripping in money, and it feels like 1998-1999.

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Rents are way higher than 2007 here in San Francisco. That is, if you can find a place. I've heard of rental places having 30 applicants standing in line to just see the place.

 

Its looking a lot like the days of the dot com boom here. We found it much cheaper to buy than to rent. While real estate prices have not gone up in the city, Palo Alto has seen an 18% jump since last year. What recession????

 

A month or two ago I saw an article stating that Bay Area GDP grew in the mid-teens over the past year. 

 

So there isn't a recession for them -- they're growing faster than China.

 

 

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