Here's Why New York Rents Are So Damn High

Here's Why New York Rents Are So Damn High

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A new report from New York City Comptroller Brad Lander found that rent prices rose 19% in New York City between 2021 and 2022.

Rents have been skyrocketing in most major urban centers for years now, and in Miami they rose by more than 37% between 2021 and 2022.

Austin, Phoenix, and New York are popular destinations for California transplants and others looking for pandemic-related changes of scenery.

Rent prices are rising faster in these cities due to supply and demand.

Renters in large urban centers will eventually face the question of whether the high rent is worth the lifestyle offered by these cities.

Moving away to an up-and-coming city can offer an equity entry point.

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