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“‘Ghost apartments’ are ghastly, needless bane on the city” New York City is in the midst of a housing crunch — and “ghost apartments,” empty rent-controlled units that are not in any rentable condition, are contributing to it. Almost 50,000 such units need expensive renovations and upgrades (often close to $100,000) before they’d be legal…
“More than half of Silicon Valley residents want to leave: ‘The mood is darkening’” More than half of all residents in the Big Tech hub of Silicon Valley are planning to ditch the region due to spiraling costs and quality-of-life issues, according to the results of a poll released this week. A whopping 64% of…
“Priced-out locals account for third of available NYC rentals” All good things must come to an end — and in the case of New York City rental housing, that means pandemic-era discounts for sweet apartments. In the second quarter of 2022, the inventory for city rental homes rose 14% to 65,697 from the first quarter,…
“The shortage of judges in NY’s Housing Court is causing massive pain for both tenants and landlords” When Gov. Kathy Hochul two weeks ago signed a bill expanding the number of judges in certain judicial districts and Family Court, one branch of the judiciary inexplicably wasn’t included: Housing Court. That oversight is tragic, because Housing…
“America isn’t working, thanks to COVIDiocy and Bidenomics” The nation added 390,000 jobs in May, per the latest federal data, the lowest gain of the last 12 months and leaving America still 800,000 short of the pre-pandemic level. Yet employers are desperate to hire more, with a survey last week finding that hiring is the…
“NYC pols are about to display their housing ignorance” City Council members just put off a show hearing set for Tuesday on two housing issues that the state controls in a bid to win progressive cred. Wise move: It could only expose their gross ignorance (or cynicism) instead. The issues themselves remain alive: One is…
“Miami locals blame New Yorkers for driving up rents” The cost of renting an apartment in Miami is soaring — and locals are pointing the finger at newly arrived New Yorkers who flocked south for Florida’s sunshine and its low taxes. A new survey by Realtor.com found that rents for Miami-area apartments have risen 58%…
“Rent hikes aren’t nearly enough to save NYC’s landlords or housing” Tenant advocates are already squealing after Thursday’s preliminary decision by the city’s Rent Stabilization Guidelines Board to OK modest rent hikes for the city’s 965,000 rent-regulated units. The de Blasio years had fed activists the habit-forming drug of zero-dollar increases — and tenant groups…
“Vote paves way for rent hike for NYC’s stabilized apartments” A vote by the city’s Rent Guidelines Board on Thursday set the stage for what could be the biggest rent hikes in a decade for the Big Apple’s nearly 1 million rent-controlled apartments. In a preliminary 5-4 vote, the board approved rent increases in the…
“Record high rents are driving people back out of NYC” Once again, the rent is too damn high. For many city denizens who weathered the pandemic in the boroughs, new record high rents and bidding wars have proved the final straw. Instead of renewing their leases, they’ve moving to more affordable areas. Bargain-hunters are “choosing…