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LANDLORD FESS UPl HOW ARE YOUR RENTALS GOING

Started by rb345
about 16 years ago
Posts: 1273
Member since: Jun 2009
Discussion about
I'm finding the rental market etremely rough now. And more difficult to understand than I've ever seen it. I recently re-priced seven NYC neighborhoods where I rented last summer and in December: two in Brooklyn, three in queens, two in Manhattan, all better than avereg if not "hot" areas. All seem to be down, some markedly, a fact that is hard to reconcile with media reports that NYC gained 70,000 jobs this yeara dn 21,000 prive section jobs in July. But the CIty also reported yesterday that 80% of private sector employees work in industries where compensation feel in 2009, and that net personal incom was down 4.* to 10.3% in 2009. Those numbers would explain the counter-inuitive situation of rapid job gwowth and declining rental demand and realized rents. Thoughts?
Response by rb345
about 16 years ago
Posts: 1273
Member since: Jun 2009

ttt

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Response by jasieg16
about 16 years ago
Posts: 123
Member since: Oct 2009

Why dont you take a look at Jersey City, Hoboken, Parts of Long Island (not queens or LIC) and similar places that have always had a city commuters. I think you will find that these areas have been seeing an uptick. As income is down, spending is down too. That includes housing. Employers will pay for transportation bc they get a break on that so people are more inclined to live outside the city. Especially if they have been out of work for a while now.

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