Rent in the New York area has increased 25% in the last five months. My brother talked to a landlord today in our continuing search for a place to live and he confessed that his properities are nowhere near worth what he is charging. But that is the going rate and it keeps climbing. He said that this was not a renter's market but a landlord's market. I read an article recently that said vacancies are "hovering around 0%".
When I first moved to this section of Brooklyn, I was paying $1300 for a pretty sizable 2 bedroom. If that place were on the market now it would fetch $1600 or more a month. Most apartments in this area are going for $2100 or more.
Another problem is the need for outstanding credit in order to even be considered a a renter, something that neither my brother nor I have. I know mine's not that great but the only balance I am carrying is my student loans. My brother's credit for some reason is terrible and we've been shown the door more than a few times when looking for a place.
I am too old to be dependent on my parents. But I am constantly told I need a guarantor to cosign the lease on a new apartment. Unfortunately for me I started a new job and that doesn't help matters. Never mind the fact that I make more now. I haven't been there long enough, so it counts against me.
So I am seriously considering putting my things in storage and renting a room by the week in a roominghouse until I find a place. Maybe I can help find bodies buried in the backyard.
Ooo, the excitement!
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