Interesting article. I appreciate that it included the example of a couple in Jersey City, NJ being forced to move because of increasingly exorbitant rent. That article could have been about me personally. I lived in a shitty overpriced 1br apartment that overlooked the Holland Tunnel. Rent was around $2200/year, but they wanted $2700/year for us upon renewal, and after we said no, they upped it to $2900/year when offered to the general public. This was June 2022, and a quick look on their website suggests similar units sell for $3300/month now. I make a decent living, but that increase was way too much for me. That was the final straw to get me to move out of NJ entirely and down to the relatively more affordable DC area. It was similar for many of my neighbors. The NYC area will always have a special place in my heart, but there’s only so much you can take before you begin looking to alternatives.
Interesting article. I appreciate that it included the example of a couple in Jersey City, NJ being forced to move because of increasingly exorbitant rent. That article could have been about me personally. I lived in a shitty overpriced 1br apartment that overlooked the Holland Tunnel. Rent was around $2200/year, but they wanted $2700/year for us upon renewal, and after we said no, they upped it to $2900/year when offered to the general public. This was June 2022, and a quick look on their website suggests similar units sell for $3300/month now. I make a decent living, but that increase was way too much for me. That was the final straw to get me to move out of NJ entirely and down to the relatively more affordable DC area. It was similar for many of my neighbors. The NYC area will always have a special place in my heart, but there’s only so much you can take before you begin looking to alternatives.