Manhattan which saw people flee due to Covid rebounds and now rent for the first time surpassed 5K a month.

[capblk]

Terrifying prices to me but I know a few people that pay around that amount in rent and don't care at all since their income is so high.

 

[Jean Jacket]

I don't like Manhattan that much to pay that. Brooklyn maybe.

 

[Tribal Outkast]

Bout to be a lot of

Going on

 

[Ethnic Vagina Finder]

This is misleading.

1. The average probably includes multimillion dollar penthouses and apartments.
2. A lot of apartments are rented by roommates. 4-5 people all renting the same apartment. I think this is one of the most underrated driving forces. Landlords expect there to be multiple people on one lease and move accordingly.

 

[UberEatsDriver]

When you think about it, a lot of people use half their take home pay just on rent, and that is part of the problem.

Yup and that’s exactly why I did the Math. And what’s crazy is that 5K left over after rent is still a lot of money

 

[Manolo]

The most gentrified and popular areas of Brooklyn are headed in the same direction and aren’t much better. But its lower income areas outnumber the expensive ones so the average Brooklyn rent is misleading

 

[Amo Husserl]

I’ve had this convo with my co workers as well. One of them an asain finance director. According to her she doesn’t have a family and feels cozy. Another manager I spoke too actually has been looking to buy a luxury condo in Manhattan. He can’t cause competition is fierce and I’m sure in Manhattan he is competing against millionaires

Desire for creature comforts makes it hard to leave.
Situation should be ripe for people to move out to lesser known parts of the county and get things poppin'.
Eventually it's going to have to collapse and those millionaires are going to start spreading.
Why not get ahead of them?
Of course you'd have to bring some serious skills to wherever you'd be trying to develop.

 

[ReturnOfJudah]

Draining that generational wealth

 

[chreh]

This is misleading.

1. The average probably includes multimillion dollar penthouses and apartments.
2. A lot of apartments are rented by roommates. 4-5 people all renting the same apartment. I think this is one of the most underrated driving forces. Landlords expect there to be multiple people on one lease and move accordingly.

Not all that misleading. Median rent here is $4k.

 

[Sauce Mane]

I don't think I ever would want to live in Manhattan even if I had the money. Would rather be somewhere in Brooklyn

 

[Wild self]

Those landords need to lose everything

 

[ItsPeople]

5k /m for someone making $190k/y

is 30% of their takehome pay




If you not making 190

 

[Bubba T]

5k /m for someone making $190k/y

is 30% of their takehome pay




If you not making 190

190k would put you in the top 5% of incomes in the country. A borough with 1.63 million people but only people in the top 5% of incomes can live there 🫥

 

[charknicks]

5k /m for someone making $190k/y

is 30% of their takehome pay




If you not making 190

Making 190k in NYC, their take home pay would be about 120k after taxes.

That 5k/month would be about 50% of their take home for the year. They gonna need to be in the 300k-400k range

 

[ItsPeople]

Making 190k in NYC, their take home pay would be about 120k after taxes.

That 5k/month would be about 50% of their take home for the year. They gonna need to be in the 300k-400k range

yea my bad I meant to say gross