Who is signing all these obscenely overpriced leases for studios or 1 BRs for 6-7k?

likefunnyuplifting
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It’s largely people who make a ton of money and/or come from a well off family so already have access to the shiny toys a lot of the rest of us have to save up for. I cringe paying $3300 for a 1 br split with my SO and while we could technically afford it paying double, I grew up poor in the south where $3300 is a mortgage on an amazing 7500 sqft house

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Tech, financial services, real estate, consultants. It’s limited, the number of industries that can afford manhattan anymore.

There’s also a trend of older empty nest folks skipping traditional retirement to live in trendy cities. That kind of rent might be more affordable to them - working with a nest egg, 401k and social security payments.

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Google employee complaining about this so I seriously don’t know now 🥲

funnylikeuplifting

For me, yes ofcourse it is stupid and I make 7k (after tax) a month lol.. so if I rent this what would I feed my unfounded wife and unborn child in future 🥲

funnylike

DINKs

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**googles what a DINK is**
**realizes she is a DINK**

Post Photo
funnylike

Their parents…

likesmart

This

Guess I am staying in NJ

likesmart

I see some rents coming down. A lot of gouging going on. There was a massive spike with pent up demand that contributed more to these increases. I see them coming down especially with the moratorium lifted. And yeah 6-7K is our budget for our next place. But we have a little one now so this may not be sustainable. NYC real estate is a damn racket.

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I’m watching some come down. Units sitting around for days. I think these assholes were gouging. Manhattan’s population is still below what it was pre-pandemic so I don’t get it. More will leave too with these prices if they don’t need to be here. The market will tell us soon enough.

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We are just serfs.. there is truly a ruler class now and aren't a part of it. American dream is a mirage

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When has there not been a ruling class?
Times are not the greatest but compared to actual serfs this is an over dramatic comment.

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Hedge fundies

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Must be stupid money

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people tryna flex for youtube views and likes

likehelpful

Me when I renew my lease in a couple months unfortunately, when it increases 50%…

We make $450k HH tho

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Yeah, I won't. This is totally unreasonable. Also I hope the market will cool a bit until then

People who work at Google

funny

My friends dad owns a building and she got an apt there. The rent is technically 5850 but for her it’s uh… ya know.

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If he owns a building, he’s probably not missing the $70k/year.

Not quite what you asked, but paying $6k to rent a large 1 bed + 2 separated office spaces (only full bath is thru master bedroom so technically not a 2 bedroom apartment)

Dual-MBB HHI ~$500k+. We both really wanted to have office set-ups outside of our bedroom/kitchen/living spaces since WLB is terrible for us both. Signing a lease in the 2022 market was not fun…

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1700 sq ft for $6k is good in Manhattan.

My guess is that it’s couples or some sort of influencer. But I feel like when you get into those rental prices for a 1BR it’s time to start looking for a house

The banks 🏦

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