“While the average rent for available apartments in New York City is now over $3,000, the U.S. Census Bureau says renters in New York City were only paying a median of $1,125 in 2011. What gives? The answer is, there are lots of cheap apartments in New York. You just can’t get one of them, because they’re rent controlled, and tenants with great rent controlled deals cling to their apartments until they die. In Manhattan below 96th Street, 35% of rent regulated apartments are occupied by a tenant who has lived there for more than 20 years. Less than 3% of market-rate tenants have been around that long.”
http://www.businessinsider.com/the-8-reasons-why-new-york-rents-are-so-ridiculously-high-2013-7
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
Paul Craig Roberts: The Western Onslaught Against International Law
Are You Making This Financial “Mistake”?
The System Of The World - An Infographic
James Altucher: How To Break All The Rules And Get Everything You Want
Keep Families Together: An Anarchist Christmas Message
An Important Weimar Republic History Lesson
Southern Slavery: Two Systems of Management
Creative Destruction—The Best Game in Town
The Fleeting Beauty of Bubbles and Bonds
Inclusionary Zoning Makes Housing Less Affordable
Atlanta Airport Abuses Uber and Lyft Drivers and Their Customers
Will the Federal Reserve Taper Off on QE?
The Syria Endgame: Strategic Stage in the Pentagon’s Covert War on Iran
The Reason Police Brutality Is Rising
“Why did you shoot me? I was reading a book”: The new warrior cop is out of control