Manhattan apartment prices and their repercussions

our end. You have just finished your university studies after six years (Masters) of hard work and you are looking for a job. At the same time, you are also looking for an apartment in Manhattan. You want to spread your wings. Build a life for yourself. This is logical and normal.
Good luck and God bless you.

You can find a job. And it worked really well. Many companies are begging for (good) employees. But would you be able to pay $4,000 a month for a studio in Manhattan? $3,000 for an apartment of the same size in Astoria and a little more in Brooklyn?

Good luck – but it’s going to be really hard.

The same applies to newly married couples. With these rentals where would they live? How will they deal? How are they going to start a family?

The strange thing for non-experts is that everywhere you go you see bulldozers and cranes. New theoretical buildings are erected every day.
Take Astoria for example. This decades-old “unpretentious” area is transforming into another Manhattan by the day. Already the Queensboro Plaza area – next to the 59th Street Bridge – has turned into another Manhattan. Incredible skyscrapers have been built that rival those across the river.

In other areas, they demolish the old small houses and build new ones that are much larger than the ones they demolished.

what’s going? How do you justify these prices?

In capitalist terminology, this is called supply and demand. It’s just that the demand in New York for homes and apartments is much higher than what is available. And more and more people from the United States, but also from all over the world, want to live in a city that never sleeps.

Simply.

The population, which was 7.3 million in 1990, exceeded 8 million in 2020.

Manhattan, it seems, will become an island where only the world’s rich will live.

Meanwhile, in areas like Astoria, politicians refused to construct buildings that would have added 3,000 units, 800 of them at a discount.
What should be done?

A lot it seems. Already, many New Yorkers are leaving for other states, especially in the South, where rents are lower, the climate is better, and traffic has nothing to do with New York’s driving nightmare.

So leadership is required. Men and women are willing to anger some people in order to do what is necessary for the good of the city.
But I fear, as I wrote a few days ago, that Eric Adams, our mayor, cannot reach this height–and time waits for no man. Soon the median rent will be $5,000 and $6,000.

And who can pay but the wealthy of America and the world?

What kind of life would this be?

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