New Yorker’s Can’t Afford New York…
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- Опубликовано: 17 окт 2023
- Studies show NYC is so expensive, a 100k salary is actually worth about 36k here in the city. And thats before you pay the rent…
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It’s so dystopian to hear a landlord be called special because they are only charging 3,000 dollars a month for a tiny apartment.
Exactly…. And sad that he offered to fix a microwave handle… pretty sad.
Don't rent it ! Move to a cheaper city
Splitting a 2 bedroom with a roommate means that each person only pays 1675/month which is pretty affordable by NYC standards.
@@jmlinden7 exactly, New York is designed for people shacking.. not single people… the purpose of the city was for people to shack it up…. But society expects your own apartment… giving the illusion that it’s not affordable
@@lexalee5795lame excuse
The construction crew can’t afford living in the homes/apartments they’re building, that’s awful 😣
That’s show buidness, BABEH!
So? They make money in the city, then live where costs are lower. Otherwise they're doing it wrong.
It's pretty much the same in London
That's not exclusive to NYC. Most construction workers can't afford living in the homes/apartments they are building in any big city worldwide. 🤷🏽♀️
@@joanahalfeld Rightttttt that’s why NY isn’t mentioned in the comment ❌
And sadly these prices will NEVER go down regardless how little or much you make. And anyone paying these prices for an APARTMENT is literally throwing their money away and are crazy. Good luck to you all out there
What goes up,must come down..sooner or later..or the Income must go up..🤔
=THEY *_WILL_* IF MAKE NY BOTH STATE AND CITY RED.....................
............BUT THAT'S NOT AN OPTION, RIGHT??............
Fäll0vt ^??^
just well 2,5 levels in öne event o0
Time to get out of this overtaxed, illegal immigrant haven, rat infested shithole. Anyone willing to stay there are just downright crazy.
big facts
I live in the countryside in England, in a 3 bedroom house which is a good size. I will never complain about my £750 a month mortgage ever again! 😀
Ive been saying it over and over, for at least a decade. Property prices (buying/renting) is the biggest scam of our times. It ALL boils down to greed. And greed shall be the ultimate downfall of mankind
Same goes for the Tiny Home movement. It's a racket.
@@crassgop that’s completely wrong lol. Agriculture was invented because the community needed food not, just for one person bad example.
@@sweettrubble4635 Tiny homes definitely aren't cheap. Prices are ridiculous for what they are.
@@crassgopstupid take
Insurance, taxes, and medical are also big ass scams. Practically everything is trying to scam people who don't do their research.
i don’t understand why anyone want to live in new york! this is insane.
It’s the best city in the states that’s for sure- is why, and if you haven’t lived there you wouldn’t get it. I was lucky to be there for 20 years when it was cheap and fun. It’s still fun but no longer affordable. But you cant tell anyone about the magic of NY, you would have to experience it.
@@acooksla Im sensing some stocholme syndrome here. As someone that has live in stunningly beautiful peace and utter tranquility of a rural farm life my entire life I could never imagine living in such a cramped and violent place with no privacy or peace. I pay 800 dollars a month for rent, insurance, electricity, internet, and property taxes in my rural home(I own it, but I say rent because you never truly own anything, you're just renting it from the government). Litrally zero crime, I havent seen crime here in 30 years, last and only time was a drifter that ran out of gas and cut my water hose off to siphon fuel; a one in a million chance. I literally live in heaven on earth.
@@acooksla You’re absolutely right. My dad moved me out to the suburbs (kind of, we lived in the woods) and I hated it. Some good parts, but there was no diversity, not just skin color, everyone had the same story and everyday was predictable. Living in the city, you meet new people, and there’s always something going on. And even though it’s fast paced, it feels like a huge community.
@@povangI live in NYC, my family owns 100 acres in N.C. I can't do N.C. fir more than 2 weeks. To each his own.
@@annj515 Concrete jungles are lifeless, depressing, and souless unnatural places to live. The further man is seperate from nature the more violent and disturb he becomes. Its why NYC is often referred to as an "open air asylum". Its why big cities are so violent and angry. In the rurals surrounded by trees and nature I feel life all around me, its like pure bliss; each blade of grass like droplets in an ocean of life.
I “feel” at some point, and based off of what Cash’s videos have been like lately, he might be slowly talking himself into moving out of NYC. And honestly, that’s probably the best thing for him and his family.
I find this channel to be, DOOM AND GLOOM...But hey look at this spacious 2br for $11000000 a month.
How can there be a justification to be in New York City unless a person is making $500000 or more per year? Seems like the city hates the working poor and middle class.
I always thought you did a great job with the apartment hunting videos, providing all the "extra" information like what transportation, grocery stores and restaurants are nearby. However, I think your NYC commentary is stellar. You provide thoughtful insight in an unbiased manner that encourages the viewer to think about these now everyday issues that are facing the country everywhere. I live in Chicago and we face many of the same issues and I hope you continue to do your "social issues" videos. Excellent work!
That is not the original apartment, it was cut up. Landlords started doing that in the early 2000's. As an ex-New Yorker, born and bred I hate what they have done to the apartments and my hometown. I grew up in a very large pre-war 2 bedroom apartment that was big enough for my mom, dad and their 3 children. That apartment looks like a cut up one bedroom. At this rate the city will not sustain itself, people leaving, and lower tax-base is going to destroy the city.
The last part of what you said is why I am responding. People are not leaving, I read comments from people who hate NY and they quote statistics showing the population of New York State dropping. The problem is the population of the city is growing. People leave but a larger number of people, immigrants both legal and illegal, keep coming. Since the population of the five boroughs keeps rising even by a small number year after year that means these landlords can keep raising the rent. If you can’t pay it somebody will.
People aren't leaving the city. Businesses are and the office buildings are being converted into housing. There are more residents living in the Wall Street area than there are stockbrokers and bankers working there.
Exactly
@@fightsports66this is true. NYC is mostly liberal and the liberals don’t realize how much they Shoot them selves in the foot with all this liberal policies and openness to mass immigration, especially illegal immigration! There is lots of talk about gentrification but not so much about how all these illegals deflate the housing market
You mean the ones who pay no taxes but are in apartments & housing taxpayers PAY for, don't you? And try telling other states absorbing people who flee bad policies in these states that people aren't leaving. 😂😂😂
A Native New Yorker putting his bias and love for his city aside to have journalistic integrity. Too many people want to act like nothing is wrong... Great job Cash, love the videos.
I don't think he's a native. He wasn't born there.
@@sallyphillips9175😮
"Too many people want to act like nothing is wrong" - I totally agree. I'm blue-collar/lower-mid class. I see disaster happening. I'm painted into a corner where it's all about working for food, a roof, and transportation. Nothing else. I'm barely keeping up even with this situation. If I lost my job I'd be finished in a month, maybe two.
@@josephconsoli4128 This is why the concept of Congestion Pricing really irked me. The wealthiest people could avoid it easily, and the families living in the outer boros get to subsidize the city's nonsense. Plus no way to avoid getting basically taxed to drive between parts of the same city. That was the straw that finally drove me out of NYC for good. I was 4th generation, now I live in MD and cannot believe how much easier it is here. Still higher than the national average, but about a third of what NYC was costing me.
Ja he's from MA, IIRC@@sallyphillips9175 . We get enamlennahc' point though, a good one.
It always blows my mind why people who are not making over 100k still want to live in NYC and similar cities. I have a 2200 sqft, 4 bed, 2.5 bath house with 3/4 acre of wooded land in my small city and my mortgage is 1500 a month including taxes and insurance. The quality of living is so much higher living in a smaller city than jammed into a tiny shoebox in an overcrowded city. I get that a lot of people move to NYC, San Francisco, Las Angeles, London, etc. because of the name recognition of the city, but it is such a terrible financial decision for most people.
A lot of times it's because of the income too. Income is higher in these big cities than they are in the backwoods
Thank Biden for leaving the door open and sending thousands of people there that can’t afford it.
Just sad! The working people can not afford basic necessities and are forced to decide between buying food to live or to pay rent and not end up homeless. Also that apartment is way to small for the price
Move to a different city. don't be not smart.
@@Notme-tq4xs*don’t be not smart* …….. 🤷♂️
@@123RADIOactive ✍🤔
If you're an author, never can't you not always have a command of English grammar, syntax, structure, vocabulary...
Landlords chopped up most of the apartments --- I'm sure it was a one-bedroom prior. Don't u love a kitchen where u can't fit a kitchen table - and have to walk in sideways because the kitchen is so narrow? I grew up in NYC/Brooklyn decades ago - when apartments for the middle-class/poor were decent sizes - and rent was around $35--$75 month. You could blame politicians!!!!
@@Notme-tq4xsEasier said then done and that can be costly in itself. You already need a lump some up front for the address you’re moving to and moving expenses can double, triple that or more.
I can't even comprehend the prices. When I last rented an apartment my rent was $450. Most places were $550-650. Of course that was 14 years ago 🤷♀️. I think 1000/1200 is more the norm now in my area. Lucky for me I bought a house with a fixed mortgage only $500 a month. Very grateful!
Yes. Rent is absurd 😢
I was able to purchase a house in 2013 for $150k. Looking back now, that seems so cheap.
1200 what area is that 😂
Yooo where you live? How your entire $500 I have a 2 bedroom apartment for $800 a month I'm jealous 😅😅
We are grateful that we bought our house in NM with a couple of acres of land 8 years ago for $76,000. We paid cash and only owe a bit in property taxes each year. With just a little fixing up, it is a great home.
Thanks Cash! ❤
You are engaging. Your vids are entertaining
I’m never going to rent in NYC, but I watch anyway 🙂
Love your production style Cash, always so interesting….
I thank God everyday for my rent-stabilized apartment. I'd definitely be homeless, especially since my husband recently passed away. These prices is why my 30 years old daughter still lives at home. She figures she'd rather live with me than a crazy roommate. Lots of her friends live with their partners to save money. Wouldn't recommend anyone move to NY unless they have a very well paying job already lined up.
Sorry for your loss. I recently lost my partner of 20 years. So I know how that feels 😢. Keep going, day by day! As much as I love NY, I could never live there.
If you have a good-paying job --- you still can't afford it. - and u don't know if ur job will still be there!!!
NYC families are raising their kids like Caribbean families nowadays. You stay home and save your money before you get married and then we give you the house when we retire.
Living with my parents until i got married was the best decision I made. It gave me stability, warmth, love and I was never bored for a moment.
A lot of my Uni friends did the grown up thing and rented. They were miserable, lonely and were getting up to no good.
We need some type of control and guidance even in our mid and late 20’s and early 30’s.
My daughter is saying she would also like to live with us until she gets married!
America is so screwed up - that is why its decaying at such rapid rates.
In Europe its very normal to live in your parents’ home until you get married. Its not a shame, its wise.
@@johndear1592 LOL dude thats so true, in the Caribbean usually people leave their parents house when they marry. Its insane that this is happening in NYC, i lived there many years and i didnt have a high paying job, but i could pay my rent and monthly expenses and still have money go out EVERY single night to bars and clubs and just have fun you know experiencing the city. Sure it was a hassle and you had to grind but im just dumbfounded when my friends there that make 120k+ are struggling to make ends meet and hardly go out, like wtf happened? Back in those days that i was there if you were making 6 figures you were doing good. Who is NYC for now? ONLY the rich? Well that doesnt sound like fun.
Insane, I’m a 24-year-old who unfortunately still lives with my parents. I pay rent for my proper room just because one bedroom apartment is expensive and I need to make 3x the rent. It’s really sad seeing how I myself can’t really afford to live alone at the moment. It’s crazy that people find this normal. Born and raised in NYC shows that New Yorkers are moving out because of that.
Consider yourself fortunate that you still live with your parents. My son is 25 , graduated a year ago and still live with me. I don't charge him for rent or anything. I told him he can stay as long as he wants to save the money. Life is already hard as it is. He doesn't has to go out and get 2 jobs just try to survive on his own. I've been on that path when I was younger so I know what its like to struggle.
I feel you🙏🏻
I moved out of the city and honestly don’t regret it. My mortgage is 2100. They can keep that 3500 apartment.
@@cancel.lgbtq.6892you’re a great parent that realizes things and prices way back when, are nowhere near the same now. I’m sure your son loves you to the moon and back and appreciates what you do for him.
no such thing as "New Yorker" we all are New Yorkers , smh
Finding something to strive for and fight for, regardless of the circumstances, is crucial. Once you set the right goal, decision-making becomes easy and enjoyable. I'm also grateful for starting investments in my early 30s, moving from an average lifestyle to earning over 34k monthly. Diversifying my portfolio with savings accounts, stocks, bonds, and high-yield dividend funds has been key. Having a financial advisor like Samuel Peter Descovich has been invaluable. Working with a professional can help prepare for financial struggles. Don't let fear hold you back from realizing your dreams!
It is always good to have a financial plan. I work with a professional planner and fixed-income strategist in NY. The fixed income portion of your portfolio won't simply serve as a buffer to the volatility of the equity portion of your portfolio, but will provide legitimate income.
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Just insane-In 2008 I was paying $590 for a 701 square ft apartment w/full size washer/dryer, second floor and a cover parking space all in a uber nice community in Plano TX...I was a receptionist and always had extra money to spend....thank God I listened to my dad and bought a hm before the prices went through the roof...
We left Nyc in 2007. Sacrifice whatever you have to to leave it will be the best thing you ever did
I left NY and was a native of 38 years. I didn’t want to leave but the lack of promise to own property and have a comfortable living made me make this difficult decision. Maybe I’ll return in the future, I want to…, but…they make it really difficult.
You must leave. It's not smart to stay.
What’s the reason you want to return here?.
You can never return, never
@@erikkison It's where I grew up my entire life. So there is an attachment to it. But I didn't like that my spouse and I were making great money, yet we knew we were just filling other people's wallets and not solidifying a future. That was the most distressing part of it. And what's worse is. When I was a kid in the 90s the city rebounded from nearly two decades of violence and quality of life issues into a better place to live. Then, somehow, the past 5 years we have basically flushed all that down the toilet and now left a young generation who are understandably clueless as to what the city once was. That if they knew, they would do anything possible to prevent it from happening again. But...well, we all know how human nature can be.
Are you one of those Yankees that moved to the “ South “ and tell everyone how stupid and backwards they are ?
Great content. I am living in the UK, and it is very interesting that you are comparing across the Atlantic. However, salaries are not the same, and this should be included.
Love your informative videos, keep them coming!❤❤Take care.👍
Your coverage of the real issues around New York Housing are Brilliant!
That is because he is living it and has a great perspective!
Cash Jordan: "LOOK AT THIS FAUCET!!!!!" *turns on a normal water faucet*, "AND THE VIEW IS A M A Z I N G ! ! ! ! " *window looks out onto a brick wall* 😂🤣😂 It's like watching Martha Stewart fold towels. Why are we fascinated?
Idk but we sure are, we must have Cash with our coffee! He makes life seem simple again.
He's good at what he does and seems like a great guy.🤷 We all gotta make a living somehow...
When we first moved to NYC, we lived with our aunt and her two sons in a one bedroom apartment. It was tight but it was huge. A huge bedroom and a huge living room. My mom had the super put up a dry wall on the living room for my bedroom after my aunt moved out. Our next apartment, a two bedroom, was smaller than the one bedroom but very well divided so it feels bigger. When I moved out, I lived in a studio that was bigger than these apartments because it was a prewar building that had not gone through those divisions. I moved again to a one bedroom that was the one bedroom version of the studio which is bigger than any two bedrooms I've seen my friends live. The foyer is bigger than their living room. Like I don't need a lot of space and my current apartment feels big but I wouldn't want to live in a pace that small. I love NYC and thankfully myself and my family have the housing situation locked in so the cost and the annual increases are predictable but it's really unfortunate. My friends, even with their small apartments, are all rent stabilized but the ones that aren't, are at the mercy of market rate are all looking to NJ.
**Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most people tend to shy away from, and ends up haunting them in the near future. Putting our time and effort in activities and investments that will yield a profitable return in the future is what we should be aiming for. Success depends on the actions or steps you take to achieve it. "You're not going to remember those expensive shoes you bought ten years ago, but you will remember every single morning when you look at your bank account that extra 0 in there. I promise, that's going to be way more fun to look at everyday", I pray that anyone who reads this will be successful in life too🙏🙏🙏*
you've remind me of what someone once said "The mind is the man, the poor is in it and the rich is it too". This sentence is the secret of most successful investors. I once attended similar and ever since then been waxing strong financially, and i most tell you the truth..investment is the key that can secure your family future.
Starting early is the best way of getting ahead to build wealth, investing remains a priority. I learnt from my last year's experience, i am able to build a suitable life because I invested early ahead this time.
I urge everyone to start somewhere now no matter how small, this is literally the time for that, forget material things, don't get tempted,i became more better the moment i realized this.
yeah investment is the key to sustaining your financial longevity but venturing into any legitimate Investment without a proper guidance of an expert can lead to a great loss too
exactly! That's my major concern and what kind of profitable business or investment can someone do with the current rise in economic downturn
You are doing an amazing job! The sociological impact of housing and city living has become a narrative rarely examined to the extent you do. I came here to check out the housing market in New York but left with so much more. Your postings are value historical portals.
I’ve just come back from NY after 4 years of not visiting, and I was BLOWN AWAY by the prices, the pests, the danger I felt on the streets, my friend got stabbed a year ago in the downtown by a crackhead. I kinda buried my dreams of moving there, I just can’t imagine living there on a medium to low budget. I say move to New York if you can afford a high-end housing in a high-end neighborhood and you don’t need to travel
much around the city. Very very sad, Ive always loved New York but definitely staying in Europe 😔
Today's New York is nothing like the past. Sad.
@@Crystalblue58It’s better. You obviously weren’t here in the 90’s lol
You definitely haven’t seen all options, UES apartments are around for 2100-2300$ a month which isn’t even that bad if we’re talking below 60th street then yeah it’s gonna get expensive
@lanxy2398 in the 90's, less people peed and pooped on public sidewalks, it was safer for me and my siblings to play outside, and the cost of everything was way more affordable. It's quite the insult to try and gas light native NYers who lived here into thinking its better now when we can barely afford a pot to piss in.
Yes, NYC is no longer attainable- it’s for rich people or homeless only
Love Charles!!!!
3:30 in europe, fully owning my home, my yearly expenses are 7k.
Literallly 7000 before groceries (3k)
After I got out of the Navy I was an electrician for over 30 years. I Made good money but I left the northeast over 20 years ago because it was too expensive back then. I didn’t want to be stuck up there. I can’t imagine how difficult it is to survive up there I feel for all my family that are stuck and just can’t pick up and leave. Thanks Cash for your great reports 🍻
If we were to leave, where should we go? I’m flummoxed.
@@FollowmedowntheNumberWhole There are jobs and affordable housing in the midwest.
Not all of the northeast is expensive.
@@Crystalblue58 yup plenty of commutable places in NJ or even just upstate NY.
In PA there are still apartments 400-600 a month. Houses are in the under 200k or less by 2 major cities.
Cash you should do a video on the Bronx as the final frontier of NYC. Notably, the number of high-rise apartments being built quickly in the South Bronx is insane. The Federal government has to do something about the regular people being priced out of NYC. This crisis has to have some remedy; it can't keep going on like this.
Everywhere in the bronx and brooklyn new high rises keep popping up and the "affordable" units start at 2750..insane
You said it 🎯
I heard it’s a “lottery” system. Basically an undercover operation set up to screen only certain people in & certain people out 😏
Bronx and Brooklyn used to be ugly step-siblings to Manhattan. Nobody really wanted to live there. Now people will even live in Jersey City. Desperate times....
they keep building these and I don’t know who’s even affording them at this point. I don’t see a massive amount of 6 figure earners looking to migrate to NYC in todays remote work era
You know what the government can do about regular people being priced out? Stop flooding the country with illegals who are having their rent paid by the government
What is sad is that there’s absolutely no way the next big art or cultural movement is going to come out of New York, despite its storied history as a cultural centre. Similar things are happening all over the world. I’m from the inner city of Melbourne where rent has pushed out all the creatives who made the inner city fashionable in the first place. Yuppies flock to ‘cool’ areas and before long these once thriving, colourful neighbourhoods become homogenised, soulless and sad. They may look nice from a distance but the reality of gentrification is that it’s not only expensive, it’s so bland, and it’s destructive to the cultural fabric of the community and punitive for anybody with history in the place who gets priced out of their home. I mean don’t get me wrong, New York is obviously ridiculous, but is symptomatic of this wider trend. All that money made by the rentiers literally sucks the soul out of once great cities!
It's all so exciting!
I went to NYC to visit a friend and was shocked to see the price of everything! His apartment, which he shared with 2 roommates, is almost $ 4000 a month . 500sq ft! I went and bought a dozen eggs for $ 6!!! Here in South Texas you can get a carton of 40 for 6.99
While prices are for sure high, I buy my eggs at Trader Joe's, $1.99/dozen. My neighborhood store they're in the $6.99 range. Like most places, you just have to know where to go.
Yep it’s expensive here! The only reason I’m in nyc is because luckily last year I got into a rent stabilized apartment so I’m holding onto it for as long as I can because the rent out here is getting out of control!
@@lorrainei1622 Good for you. When/if you decide to move add a family/friend names to your lease & pass along the apartment ✅
@@ElleBrOw oh yes I definitely will! Because nyc rent is crazy!
yes @@fernkitty
One of my family members live in New York, and I send them a care package from Michigan every month. Since she is trying to make a career there I need to help her out.
I LIKE THE QUALITY AND THE CONTENT OF YOUR VIDEOS! A FAMILY OF 4 FROM THE UK, HOW MUCH MONEY WOULD NEED TO VISIT New York FOR A WEEK ?
Thanks
My wife and I calculated how much we had spent on rent in NYC separately in the last decade living there and it was pretty close to a million dollars. And this for shitty 1-2 bedroom places in manhattan with walkups, no amenities and mafia supers and crackheads on the sidewalk. There's a reason a lot of people (including us) bailed and bought elsewhere when covid hit, the city is an unsustainable dump and only really serves the mega wealthy. The rest, as you said, are cost burdened and simply trapped there.
Why do you live there for god's sake?
@@zuzanazuscinova5209 we no longer do, as I said, we bailed. Best decision ever
Everywhere in the West now looks like it is becoming closer and closer to the divided Capitol city if méga rich natcissists vs the 13 empoverished and walled up zones in the Hunger Games Book and movie. Obscenity surrounded by a whole country of extremely poor people.
You complain about crackheads on the sidewalk but according to this dude any attempt to deter that is considered hostile architecture so apparently you just have to deal with crackheads on the sidewalk
Nobody is trapped there. They have bridges and airports. It's a choice to live there, some stupid people just don't realize they keep choosing wrong, but that's just stupidity tax and it's normal. I left in 2003
South Florida is getting to be very expensive as well. Not compared to NYC but compared to what it used to be. Thank God my wife and I were able to purchase a 2 br/2 bath condo a few years ago when things weren't so high. Thank you Cash and Charles for keeping your finger on the pulse of what's happening in the big apple. You guys are great!!
Sorry but who wants to live in Florida? My brother & fam reside there & IF not for his VET incentive their home tax would’ve increased to $7K (currently $400), no mortgage on new build. Most insurance companies bailed out & others increased flood insurance ⬆️
2bed/2bth condo sounds perfect on an upper floor.
@@ElleBrOwwhat is a vet incentive
Yep I currently live in Broward County FL and it’s just crazy expensive here .. I’m a home owner and our property taxes sky rocketed .. My Wife has family in Georgia so were debating wether or not to sell our home and move up there .
Basically living paycheck to paycheck , Also have a daughter on the way so we definitely don’t know what’s in store next .. But raising a daughter is South Florida is dangerous.. it’s just ghetto as hell out here all the way to Miami .. Everything North of West Palm Beach gets better .. But from WPB down to Miami is just ghetto atrocities
@ellebrown1760 this is one reason why I moved out of S. FL - I had moved there from NYC in 2003. But, I saw the writings on the wall, my home insurance premium doubled. I even was dropped by an insurance company (never had filed a claim) some years back. Everything is going up in South Florida. Not to mention, some locations there now flood that never used to.
@@Xyz_LittyI completely agree worth you 1000%
I just can’t see myself raising my daughter in Hollywood FL for much longer!
so great video thanks. dream to liv in NY already gone :D
What a lovely place and a lovely lady too. Love it!
As someone who lived in a prewar building for over 30 years. My parents still live there I can tell you that’s a prewar building and that 2 bedroom was actually a one bedroom with separate dining area. All prewar had them and until the landlords went crazy for profits, you used to get a huge one bedroom with a dinning area at a good price. A lot of my friends thought my parents one bedroom was two because of how spacious it is. That same apartment in another floor has been turned into t two bedroom , and my godmothers apartment in our same floor was converted to a three bedroom two bathroom. Her apartment was a one bedroom apartment and was bigger than ours. She not only fit a washer, had two pantry closets and a table in what was her kitchen. She had a separate dining area. And four closets. So to take it out of rent regulation. Those asses converted it into what it is now. They made the kitchen and half the living room into bedrooms. The coat closet into a standing shower. The dinning room into the kitchen. My godmother used to pay 260 a month. The rent after she died skyrocketed to 3000. Landlords are the devil.
Yes! My 2nd apartment was in the Bronx off Moshula Park..it was a prewar building. A one bedroom with lots of closet space a huge kitchen and living room, with a dining area. I was paying $600 a month. When I left in 2010 after 17 yrs, I was paying $975😮
Landlords are a result of unregulated capitalism
@@Dneidbdjrj lots of people in nyc make a lot of money. Not regular people, high earners in investment banking, finance, big law, consulting and tech. These top companies that pay top dollar are all here in nyc. If you work an average job you would probably do well to not live in manhattan. The outer boroughs are a lot more affordable.
I owned a 2 family house in the 1980s ti 2000 and didn’t like being a landlord. Never raised rent on my good tenants but decided being a landlord was not for us so we sold our house in an outer borough and moved to NJ.😂
This. I have no objection to a normal, reasonable profit, but the shit going on right now in NYC is evil, raging greed run amok. It's inexcusable profiteering, it's corrupt and cruel, and it should be banned.
I was TRYING to move to nyc, I finally found a job paying 70k, no way in HELL I’m giving all my money to landlords just so I can say I live alone. Staying with my parents rent free and pocketing all my money NO SHAME
I was born and raised in Oakland Gardens section of Queens and lived in a 850 Sq Ft 2 bed/1 bath apartment with my parents until I graduated HS and enlisted in the Navy back in 1999. My dad would complain how expensive the rent was back then, and I can only imagine how much it is now. What was staggering was how I could get a similar sized apartment down in Florida in the early 2000s for $800/month that was 3 blocks away from Neptune Beach. I feel bad for anyone struggling up there... y'all must be stressed out to the max.
Thankfully, I retired from the Navy 4 years ago and bought a decent sized house in Southeast Louisiana with an inground pool using my VA Home Loan.
That was depressing to watch got claustrophobic watching it what a horrible digital prison individuals have living in such a surveilled restrictive dystopian environment
The Dynamic Duo: Charles and Cash Jordan. Love it.... thanks for all that both of you do!
I hope you paid Miss Violet to hold up the signs. She did a great job 🎉
😂
Here in Australia Rent is like $1800 AUD per month .. So around $1200 USD per Month in the Suburbs about 20km (10 miles) from the City Centre, you can live in a 3 x 2 House which is probably 2 times as bigger as that first NYC Apartment 😅 But your not in the City centre if you were it would be like $2200 per month approximately for a 3x2 apartment
Reminds me of hooverville right before the great depression started.
Sheesh, how old are you? 🙂
This is nuts. 3k, 4k, 5k for an apartment. I’d be homeless if I lived in NYC.
The bad neighbors range $2000 for a 1 bedroom and $2500 for a 2 or 3 bedroom. It's out of control 🤷♀️
Your channel is solidly one of the best channels about living in New York City. Thanks for bringing these issue to light.
1:52 “the view is awesome “ 😂
that was a good intro good shit
I pay $1020 for a modified studio in the Shadyside neighborhood of Pittsburgh. All my utilities (except internet) are included. I can’t imagine having to pay significantly more for that. NYC housing prices are insane.
I miss Pittsburgh rent. The last place I lived at I was rooming with 3 other guys from church. The house in Greenfield right off of the bridge on Murray was 4 bedrooms, 2 bathrooms, and cost $1200 total plus utilities.
The title of this video applies to almost every major city in the world tbh
It is not, only NYC cost as high. Cause they pay taxes and send more money to Ukraine I guess.
@bunnyfreakz nah. Most major cities outside of the US struggle too. Factor in average salary vs cost of living & you'll see that a lot of the average folk has to commute every day into their country's biggest cities for work because living in it is almost impossible.
That or share an apartment with strangers.
I was born and raised in upstate NY and have never ever had the desire to visit NYC. I would not want to live there let alone pay those outrageous prices to live in a shoebox sized apartment. I would have a serious case of claustrophobia living there. Especially facing a view of a brick wall. Can’t imagine anyone who is not extremely wealthy living there. Upstate NY is still affordable. I left Houston after living there for 50 years to move back to upstate NY My cost of living has actually stayed about the same if not a little bit lower. My car insurance and home owners insurance is cheaper then in Houston my property taxes are about the same but gas is higher but not a problem since I am now retired. NY does not tax my social security and I get the enhanced star discount on my property taxes and no longer have an HOA or HOA fees. Most importantly I moved away from the insufferable heat and frequent hurricanes and flooded streets every time it rains.
I know someone who recently fled NYC for Raleigh NC, and has a new job, and a new townhouse where she lives with her new boyfriend. She will never live in NYC again. Maybe visit, but not live there. In today's electronic world you can live almost anywhere.
As someone who grew up in the Midwest I can't phantom how or why someone would live this way. It's no wonder so many are homeless.
Fathom
Bless you@@SundayCookingRemix
NYC on your resume opens a lot of doors when you decide to move back home, move to another metropolitan city or leave the country.
@@maidenthe80slaThat’s not necessarily true. Larger cities in the Midwest (other than Chicago) have lots of those opportunities. I live in the suburbs of Milwaukee, and we have a wide range of arts, history, culture, etc to chose from. And they’re more accessible than in some larger cities where these activities will be more expensive and harder to get to.
You being from the Midwest you probably also cant fathom the idea of life being exciting ☠️
😃🎵 Look who's back, back again🎶, the gruesome twosome, the Dynamic Duo, salesmen of the century...etc
Do must places include utilities? Electric, gas, water, garbage WiFi, cable?
Thank you for your great work my friend. Just a quick reminder : the 30% rule that we experiment in France as well in strictly ILLEGAL but still utilised by default as some sort of a benchmark to judge renters solvability... hmmmm
I lived in NYC for 26 years and 14 apartments. 1. The way to get an apartment is through word of mouth, then and now. You answer an ad, you have 50 others with better credit and perhaps more attractive faces and you're wasting your time. 2. Never be in a hurry. Don't leave where you are until you find a suitable place, even if you and your roommates are at each other's throats. 3. Be the best tenant of all time. Never complain, fix whatever you can fix by yourself, be civil to the super and the landlord. It may not help but if there are two guys looking for a place and one is polite and the other is a jerk, the polite guy will get the place. Ditto if something needs fixing. The super of the building I lived in in Manhattan for 9 years still has some of my stuff in the basement. "Come and get it whenever you want," he says. That's because I was nice to him when I lived there, I didn't treat him like "the help."
Each and every point you made was right on the money. Also, the landlords I have dealt with like bachelors because of everything that you stated. For example, bachelors don't complain about the small things and pay on time.
Slip out the back jack.....
@@jamescole3152make a new plan, Stan!
How about getting out of New York City
Wow! I’ve lived in NYC since 2003. Same apartment! $700 Then, $1383 Now. All On A Secretary Salary. I’ve Gotta Change Cause You Can See Where This Is Going.
keep these up Cash .. shame what's happened to our city
ugh I'm in the Bay Area definitely feeling the crunch. I think everyone is going to move to Middle America soon.
Still a beautiful city. Well, at least for those with the means. Sitting in the sun a couple of days ago in Brant Park and eating great sushi is not exactly painful, but I can leave on the train or by car.
We have a 3 bedroom, 2 bath and sauna in Helsinki and it is about 2K house payment including internet, heat, parking and maintenance fee, new building near transportation and conveniences. No thanks NYC!
I live in South Florida. The same thing is happening here. Back in the 90's I bought a small townhouse in what I guess you would call a blue collar neighborhood. When I moved in it was very affordable. Then gentrification started happening. It was slow at first, but as baby-boomers started retiring they wanted to live in a warm, and to them, an affordable paradise. My expectation was I would pay off my mortgage and be able to live out the rest of my years here. The mortgage is paid off, but I don't think I will be able to afford it in the future. Even though I am homesteaded my taxes have doubled since I bought here. As a result of climate change my insurance has blown up. When I moved in it was around $400. Now it's close to $5000. As a result of higher insurance rates my condo maintenance fees have also exploded. Pretty soon it will not matter that I don't have a mortgage. The people who are moving in are upper middle-class, who had nice homes that they sold before moving to Florida. And, they have generous retirement funds. They are able to absorb these price increases. Between becoming unaffordable (And, for me personally a hostile political climate) I will probably have to move out of state. I just don't know where?
You should be looking to get out of your condo before a vulture capitalist buys the building and starts making expensive plans. Some of those sharks will seek to co-opt the board and then start trying to get the tenants out because the ultimate aim is to redevelope the building and turn it into rentals.
Central NY is beautiful!
A friend of mine had his daughter and son in law move back here to Ohio from Florida because they couldn't afford the property insurance. Theirs went up to over $5,000 a month.
@@theoriginalbridgetconnorsNow that is Crazy!
@@theoriginalbridgetconnorsFlorida has no state income tax. There will probably be some compromises wherever you go.
3:00 this beautifuul view from window is awesome ... Really? You sure? This view is really sux! Im living in Kaliningrad, i can see a forest every fucking day while drinking coffee!
Vancouver BC Canada is also charging 3,000 a month on a 1 bedroom apartment .
holy moly, i live near Mt Fuji and Pay $600 a month, including parking and high speed internet. I have all kinds of nice stores in walking distance and a lovely small park. 5 minute drive is a beautiful mall. Its so safe we leave the door unlocked throughout the day. Just hope Fuji doesn't blow.
your area is lovely!!! its so beautiful when I visited! love from Singapore
@@TheCabbagepatchgirl Yes Fuji is very beautiful thank you
Well if Mt fuji blows then your rent will go down
@@MissionSilo Yeah we have to evacuate, it probably be unlivable for a while if not forever. Those in power want to return a lot of these lands to nature anyways and move people to the smart cities
It would be interesting to see you making a video about property tax in NYC for homeowners. Thank you.
People born in Raleigh North Carolina can’t afford Raleigh NC either!!!! Stop moving here!!!!!
When resigning my lease for a 1 bedroom apt. brevard county, fl is now $1,040. Two years ago it was $835. Internet included and only had to pay FPL outside of rent
Charlessssssssss 😊
New York was already expensive, but now it's outrageous and ridiculous. You have to have like 5 jobs just to live there.
How do all the superheroes afford to live in NYC?!? I’m thinking they might be skimming some cash from the bank robbers they catch.
I'm glad that I live in one of the cheapest neighborhoods in all of NYC, but it still doesn't change the fact that the cost of living crisis is going to affect all of us living here in the city. There's a law here in the city called Local Law 97 that if implemented and enforced will increase the cost of living here in the city by replacing all gas appliances and stoves to electric against the residents' and landlord's will. Enforcing Local Law 97 will force landowners in the city to comply to "turn green", but in reality it's a cash grab from the city. NYC wants to take more money from you than you already pay now. Local Law 97 will affect residents like me who live in co-op apartments just to survive and it will especially affect poor families who live in co-op apartments struggling to meet basic needs. On November 7, two weeks from now, please vote for the people that will be against Local Law 97. Thank you.
New York must get rid of RENT CONTROL. That is why the apartments are in such disrepair and why rents ate so high. The problem is New Yorkers think its doing the opposite.
We hear so much about the rent being so high but very little about actual proposals to fix it. Eventually, and hopefully sooner than later, people will get fed up and its not going to be pretty.
There will be no proposals to fix it! NYC is going to be a place that has the Have's and Have Not's! It's very apparent that's where the place is going. You can view any current videos about all the gentrification and construction going on in NYC and surrounding areas like Harlem, Downtown Brooklyn, Queens etc...and see it's catering to the well to do and the wealthy. NYC is in such bad shape economically now, they need all the wealthy and well to do's to come at all costs at this point to aid their economy. It's unfortunate that NYC has fallen to such disrepair.
Sooooooooo interesting thank you for that
Are you kidding? Fix it? Fix what? The landlords love it and there are tons of wealthy people who can afford it. Plus the amount of foreigners who can get great jobs there love it too. I just met a couple from Switzerland who got transferred there and were living La vida loca. Two adults earning top dollar, living in Soho, he works for Wall Street, they are the demographic NY has always wanted. They think the city is amazing, they can afford it all. That’s the new reality. It will never go back, you missed the boat.
@@acooksla Nice to see we have another defender of landlords and the ultra wealthy. They really need representation. So oppressed.
@@kittenmasaki huh? I am certainly not defending the landlords or the rich, not sure where you get that idea-: just telling it like it is
Thanks Cash! Great video! New York is an insult. Just when you think it can't get any worse, it does! It just gets worse and worse and worse. You can pay all your money for a closet in hell and a rat race spot on the corporate hamster wheel. Remember people: it's not what you make, it's what you keep. Why live there? It's not like the weather is decent, the streets are clean and safe, or the living is easy. NY is stressful. Stress kills you. Even when I was young they made a movie "Escape from NY". These costs will trap you there. Don't go!!!
It's not a coincidence that there was a mass exodus from NYC when remote work became more common.
Many folks are tethered to the city by work. As soon as earning an NYC salary while living in the suburbs was an option, a lot of people jumped on it.
I always laugh when New Yorkers rhapsodize about the city's "energy". Then step into a nuclear reactor...that's got even more energy.
as a native new yorker who has lived in asia europe and across america - unfortunately NYC is the only city in America with a rich cultural tapestry -also the transit system beats having to HAVE a car, insurance, car payment and gas. I'm in LA and the lack of diversity here and the tasteless cuisine is horrible
@@PsychicZya I can dig not wanting a car. I left NYC and live somewhere that I need a car. I hate driving. I do miss public transit.
But financially it's not even close. Having to have a car, insurance, etc. costs only a fraction of the rent difference alone, not even considering other cost-of-living factors.
I agree about the food too, and I live somewhere with much worse options than LA. But again, being under that kind of financial strain just ain't worth it.
i totally understand - do you visit home often? where did you move to?@@Jimulacrum
All a direct consequence of how people vote. These people are proud of paying high taxes yet scream at anybody else that adjusts rates to compensate for regulation and tax
move to rural pa you could get a 5 bed 2 bath with garage yard and private drive for 3,500. ffs. i pay 800 for a 3 bed 1 bath 3 floor half double. front porch back deck and yard.
I can also attest that buying is almost impossible in NYC. I tried twice to buy. Once in the early 2000s and also after the recession around 2010. You can’t find a decent space at the time for under 400,000. I wanted a two bedroom. The cheapest I found was the area my parents lived and though the apartment was definitely big with its own dinning area, it was completely unlivable. We would have to spend at least 130k just to fix it. They wanted 125K. So unfortunately at the time I couldn’t afford to do both. I ended buying just across the river where the prices after the crash was waaayyy down. I actually tried getting into the area in the 2000’s and a one bedroom at the time was around 175K. I was able to get a one bedroom in a building with all the amenities for much less than I ever thought. I was able to sell make a nice profit and buy a two bedroom just two blocks over in the center of everything with all the amenities. My maintenance is not even 2000 and that includes everything including taxes. Mind you some people think it’s a bit expensive but because I live in an area where it’s the center of everything and still get to cross over Manhattan by foot I say it’s a win.
definitely a win
My 3 bedroom house with a yard in detroit metro is $900 a month. 7 years ago is was $600. I can barely afford it as a single mom but I am blessed to not be in nyc or another very expensive city. I been waiting 8 years for a housing voucher so its really disrespectful to hear that migrants are getting immediate housing for free.
The way I see it residents have 2 choices. 1- Play ball, live paycheck to paycheck stressed out and hovering near poverty just so you can live in the city OR 2- Leave. Get out and don't look back. The US is huge! There's hundreds of other cities with a much better quality of life available.
Utterly absolutely ridiculous.... RIDICULOUS!!!!!
I'm honestly amazed that people continue to move to NYC. I was born here and still live here for now, but NYers are getting less value for the increasing costs. I also don't understand how we can build our way out of this crisis. We seem to accept that if you add more lanes of traffic, you'll "induce demand" and have more drivers. Why do we think that building more housing will be any different? For some reason, struggling people still want to come here, even with a housing shortage. I don't envision a time when we will eliminate the shortage and people will decide they don't want to come anymore. There will always be more people for some reason, and as long as NYC is a magnet for people "trying to make it", there will always be people willing to live in overcrowded/supersmall/potentially dangerous apartments in order to get that chance. Good luck to all.
I don't understand the allure anymore unless TBH you are gay and want to be around a gay community. But if you are straight or not part of any sort of sub-community, living in NYC isn't much different from the rest of the country unless you're trying to social climb into super rich circles. NYC in the 90s felt way different vs. the suburbs but I feel like the cultures have combined
And yet the apartment in yesterday's video rented for $23K per month. I'm glad that I emigrated from the USA back in '98!
Where'd you go? (I've been looking at Australia or Canada but they're nearly as expensive)
I immigrated to the UK back in '98. My employer relocated me to London. I became a naturalized UK citizen in 2003. However, I plan to retire to Argentina. Argentina, in fact, I'm there on holiday now trying to determine which is the best Argentine city for me.@@inuendo6365
The view out of the window is awesome ???😂😂😂 you gotta be kidding 😅😂
A single guy without kids has to make $200,000+ per year before taxes to live in NYC because of high taxation by the I.R.S!
Cash- That was a valuable lesson. Always love it when Charles is there to enhance the episode. It’s always a good thing to listen to experienced realtors express the reality of what living in NYC requires.
Awesome episode! A+
Content is always king!
Keep going!☮️👏👏👏👏
As a born and raised native New Yorker, I left 13 years ago to live in Bangkok. I now own a 3 bedroom 2 bathroom 1500 sqft apartment in a luxury high rise with all the amenities, pool, jacuzzi, sauna, gym, etc. It's right next to the train, with a giant mall, night market, thousands of shops and restaurants, all within walking distance. Bangkok really is just a bigger and better New York, and I only pay $80 a month for all fees.😂
Wow. Thanks I’ll take that under advisement
wait what $80 a month!
@@ecolbe Yes, not a typo! If it's your only primary residence (with proof in the form of a house registration book) you don't pay any property taxes. Common charges (HOA) fees include 24 hour doorman, key card locked security to each floor, including elevators, 24 garbage room and disposal, 24 hour security guards,12 hour shift cleaners, and insurance.
That basically covers everything, you have to pay the year up front in a lump sum, and certain projects or repairs needed will be changed extra if the owner's committee approves. All utilities including gigabit fiber optic are about $100 a month for a family of 3, so you're looking at under $200 a month for all fees and utilities combined.
Yea I’ll retire there in my 50s they got affordable healthcare and housing lol
but you may be away from relatives ie elderly ones
Same story for Seattle, Bellevue as well.
My inhand salary are around 5400 and I am paying 2000$ as rent😢😢
Scary houses.....in nairobi kenya. That amount you get a very beautiful apartment
This video is excellent. Well done doing market comparisons to other large cities, talking about the 30% rule and the 40x rule, discussing home buying vs renting cost issues in NY, also showing the "hidden" fees in reasonable for sale properties, and crunching the numbers for various lifestyle scenarios. Putting all the relevant info in this video in under 12 minutes is impressive.
i’m in northern ontario and my kid’s rent is crazy for a 3 apartment in a house. It’s 2,100 for the two of them. You may think that’s cheap but in my area rent for a 3 bedroom used to be 1,200$ just a few years ago. I feel horrible for my kids for the future because they will never be able to afford to purchase a house.
My advice for americans in retirement or those with some savings its best for them to buy property in EU, specifically Spain where you can get house with pool gor price what truck costs now in usa and you will live like a king and not in tent like in USA
In the uk London has priced itself out. Our transport system is expensive but extensive. The suburbs are affordable,so we travel in to London. Saying that the more people that move out to the suburbs that also begins to become a bit more expensive but nowhere near the London prices.