General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsRent in Queens fell after Amazon backed out of plans to build its HQ2 there
Rent in Queens edged lower last month after Amazon backed out of plans to build new headquarters there.
The median rental price of apartments in northwest Queens fell 1.8% from a year earlier to $2,798 in February, according to a report from the real-estate brokerage Douglas Elliman, marking the first year-over-year decline in four months.
https://www.msn.com/en-us/money/realestate/rent-in-queens-fell-after-amazon-backed-out-of-plans-to-build-its-hq2-there/ar-BBUOeQY?ocid=spartandhp
Renew Deal
(81,871 posts)Sanity Claws
(21,852 posts)Think about it - approximately $2800 for a rental apartment in Queens. That's nuts.
TheBlackAdder
(28,211 posts).
The drop alone amounts to about 5 hours of work at $14 per hour, with taxes taken out.
.
KPN
(15,650 posts)rental properties, but this issue has gotten entirely out of hand. It is widespread throughout much of the nation. No wonder we can't count on millennials to vote when they see a system that has made college education, adequate health care, and housing as a whole unobtainable by the vast majority. No wonder they see the system as broke, including the political and the two-party system.
You won't hear any "poor landlords" from me.
virgogal
(10,178 posts)The Boston area has many 2 and 3 family dwellings and the landlord often lives in one of the apartments.
With constantly rising expenses,including property taxes,they need the rent increases to properly maintain the homes.
KPN
(15,650 posts)property values and taxes are the basic causes of gentrification. Cities is where well see an American caste system first maybe. All I know is the current system is broken and unsustainable.
LuvNewcastle
(16,856 posts)How do people afford that? The price of everything must be so inflated in NYC that an average American would barely be able to spend a few nights there.
KPN
(15,650 posts)Disgraceful! They either come to work from elsewhere, live in squalid or cramped and crowded conditions, or have a partner who can cover the largest share of bills for both.
edhopper
(33,615 posts)when they annonced it in the first place.
And for a place maybe five years from being built.
So good over all.