Renting has to support the mortgage on that. The only difference between being able to afford a house and affording rent is having the capital for a down payment
That’s not really true. Renting is significantly more affordable than buying in NYC right now. I don’t know the exact reasons, but presumably most landlords bought a long time ago and refinanced when rates were low.
According to Zillow they start at about a million for 2/1 apartments and go up from there.
We have completely different definitions for affordable, unless $250K+/yr jobs are just falling out of the sky.
Renting is perfectly fine. NYC has the strongest tenant protection laws in the country.
Renting has to support the mortgage on that. The only difference between being able to afford a house and affording rent is having the capital for a down payment
That’s not really true. Renting is significantly more affordable than buying in NYC right now. I don’t know the exact reasons, but presumably most landlords bought a long time ago and refinanced when rates were low.