New Yorkers are grappling with skyrocketing housing rents despite rents across the nation slowing, if not reversing, in some cases.
A lack of affordable housing is driving shelter costs higher in the progressive metro area plagued with elevated living costs, a migrant crisis, and a worsening violent crime wave.
With new data from the rental site Zudmper indicating that one-bedroom rentals in NYC surged 18% in February to a record high of $4,200, it's puzzling to consider who would choose to live there.
Even median rents in Jersey City, located across the Hudson River from Manhattan, rose 5.4% to $3,140.
Rents across the country have decreased by.7% this month compared to last year, primarily due to a surge in the construction of new rental units.
February represented the fifth straight month of flat or declining year-over-year rent changes nationwide.
One can only assume that the government placing these migrants into apartments across the city will only make the housing affordability crisis worse.
https://www.zerohedge.com/markets/nyc-housing-rents-spike-democrats-welcome-endless-line-illegals
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