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iv2892 t1_j7vfncc wrote

Reply to comment by Caroline0330 in Manhattan rents hit an all-time high in January by WarrenBuffetsDriver

That’s the landlords lost , he won’t get anybody to rent at that price

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DarthDialUP t1_j7w89bv wrote

That landlord absolutely will get someone to rent at that price. And then when it's raised again next year, someone will pay that too. They aren't just naming prices, they are naming prices they KNOW will get rented out at.

They aren't looking for long term renters; some idiot passing through for a year with unlimited cash will pay it.

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MaizeNBlueWaffle t1_j7zodu8 wrote

> They aren't looking for long term renters; some idiot passing through for a year with unlimited cash will pay it.

Exactly, if you ever notice where Instagram influencers, who have just moved to NYC, live, it's always in those buildings

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iv2892 t1_j7wqq2a wrote

If everyone does it is not gonna work , unless there are that many people that make that much in Manhattan

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myassholealt t1_j7x53dn wrote

Manhattan is a constantly revolving door of people. There will always be people looking to move here for short stints with the income to cover the living costs. And then they move on.

The people who plan to at least attempt to plant roots get pushed out to the outer boroughs, further and further out, till they just say fuck it and eventually move on to somewhere else. Either in the tristate area still, or some other region altogether.

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HKtoSFtoNY t1_j7xl7r5 wrote

The unfortunate truth is there are that many people that make that much in Manhattan

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[deleted] t1_j7wej5y wrote

[deleted]

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motherthrowee t1_j7xvps2 wrote

Not sure why people are surprised to see this play out in residential properties when the same thing has happened with commercial buildings for ages (empty storefronts to hold out for a bank or a Duane Reade)

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