{"id":1431724,"date":"2022-04-11T19:14:59","date_gmt":"2022-04-11T23:14:59","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1431724"},"modified":"2022-04-11T19:15:03","modified_gmt":"2022-04-11T23:15:03","slug":"new-york-city-is-rising-again-and-so-are-rent-prices-driving-some-tenants-out","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/new-york-city-is-rising-again-and-so-are-rent-prices-driving-some-tenants-out\/","title":{"rendered":"New York City Is Rising Again and So Are Rent Prices, Driving Some Tenants Out"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">30<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fnew-york-city-is-rising-again-and-so-are-rent-prices-driving-some-tenants-out%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1431724&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p class=\"subheading\">People who fled New York City during the coronavirus pandemic to live with relatives or to second homes are returning, driving up rental prices and ending the hopes of young people who want to live in their own apartment.<\/p>\n<p>The<em>\u00a0New York Times<\/em>\u00a0<a title=\"This external link will open in a new window\" href=\"https:\/\/www.nytimes.com\/2022\/04\/08\/realestate\/nyc-rent-cost.html\" target=\"_blank\" rel=\"noopener noreferrer\">spoke<\/a>\u00a0with some of those tenants, including Chelcie Parry, who rented a studio for $1,750 in January 2021. On April 1, the rent went up to $3,450 \u2014 almost double from what she had been paying \u2014 and she had to leave.<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>The <em>Times<\/em> reported on the housing market in the city:<\/p>\n<blockquote>\n<p>Since this time last year, New York City rents have risen 33 percent, nearly double the national average, according to the online listing site Apartment List. In affluent neighborhoods, it\u2019s worse: at the height of the pandemic, in Williamsburg in Brooklyn and on the Upper West Side of Manhattan, for example, the median asking rent fell about 20 percent. Since January 2021 it has charged upward by about 40 percent in both places, according to StreetEasy. In SoHo the median rent jumped 58 percent in the fourth quarter \u2014 from $3,800 to $6,002 \u2014 according to the site.<\/p>\n<p>Behind the extreme hikes in rent is a rental market crunch driven in part by Covid expats flooding back, attracted once again to a revitalized city or recalled by office jobs. The vacancy rate in Manhattan was 1.3 percent in February 2022, down from the record high of 11.8 percent in February 2021, according to Miller Samuel Inc., a residential appraiser.<\/p>\n<p>\u201cNew York City has always been cutthroat about real estate,\u201d said Stephanie Diamond, the founder and C.E.O. of Listings Project, a newsletter featuring vetted real estate classifieds. Ms. Diamond said that in recent months the housing-wanted ads have poured in. The texts of these new ads, she noted, is increasingly pitched in desperation. \u201cIt\u2019s never been fair, I don\u2019t think ever, and now it is off the charts.\u201d<\/p>\n<\/blockquote>\n<div id=\"attachment_20620091\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/media.breitbart.com\/media\/2022\/04\/3pgajii.png\"><\/a><\/p>\n<p class=\"wp-caption-text\"><em>AFP\/File STAN HONDA<\/em><\/p>\n<\/div>\n<p>The rents are higher, in part, because landlords know they can maximize their income by crowding many migrants into apartments that are usually rented to two Americans.<\/p>\n<p>\u201cFor example, a two-bedroom apartment, it\u2019s supposed to be for a family, maybe two [people per bedroom. But now, sometimes, it is five to six or seven in a two-bedroom apartment,\u201d\u00a0Walter Sinche, the executive director of the Alianza Ecuatoriana Internacional, or the Ecuadorian International Alliance, <a href=\"https:\/\/www.breitbart.com\/economy\/2022\/03\/04\/joe-biden-delivers-flood-of-cheap-migrant-labor-to-new-york\/\">told<\/a> Breitbart News in March.<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>Rents are \u201cway too crazy, especially here in the area of\u00a0Queens Corona. A single studio will go for $1,500 to $1,600, and a two-bedroom, sometimes it goes to $2,000 to $2,400,\u201d Sinche continued.<\/p>\n<p>The <em>Times<\/em> spoke to Marc Weber of Weber Realty Management, who said his company is capping rent renewal contracts at 10 percent. New rentals are going at market rates, he said.<\/p>\n<p>\u201cLandlords are trying to pay for their expenses, with inflation going on everything is getting more expensive,\u201d Weber said. \u201cBut if a landlord is doubling the rent, that is greed.\u201d<\/p>\n<p>Matt Hutchinson, a spokesman for SpareRoom, a rental website, said in the <em>Time<\/em>s report that the development is really to be expected.<\/p>\n<p>\u201cNew York is New York,\u201d Hutchinson said. \u201cIt\u2019s one of those suitcase-and-a-dream cities, and I don\u2019t think that\u2019s ever going to change.\u201d<\/p>\n<p><em>Follow Penny Starr on <a href=\"https:\/\/twitter.com\/PennyStarrDC\">Twitter<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>People who fled New York City during the coronavirus pandemic to live with relatives or to second homes are returning, driving up rental prices and ending the hopes of young<\/p>\n","protected":false},"author":18,"featured_media":2315279,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1431724","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1431724","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/18"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1431724"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1431724\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1431724"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1431724"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1431724"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}