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Softening Lot
Are Rents Headed Down? (thepoliticker.observer)
Starting at $3,340—below average!
One of the confounding things about the past three years is that while the
economy has slumped and housing has been an absolute mess nationwide, in New
York, we are almost back to the same levels as during the boom, especially as
far as rentals are concerned. _Crain's_ sees some softening ahead, however.
> _With the approach of winter and increasing jitters on Wall Street, rents
are expected to be stable at best, according to Gary Malin, president of Citi
Habitats, the city's largest residential rental firm. “There are a lot of
question marks in the market with Wall Street layoffs,” said Mr. Malin. “Rents
won't fall off a cliff, but they will be more flexible and vacancy will creep
up if negative news intensifies.” [_snip_] “Little by little I am seeing
concessions creep back, especially in the fringe neighborhoods,” said Gus
Waite of brokerage A.C. Lawrence & Co., referring to areas like the Far West
Side and the Financial District. Landlords with empty units entering
Thanksgiving and Christmas will likely reintroduce concessions to rent out
apartments, according to Mr. Malin._
Layoffs would certainly have an impact, but the irony is that ...
"NO SALT" WATER SOFTENER ALTERNATIVE?