New York City has some of the most expensive real estate both in the U.S. and the world.
Many people dream of living in the Big Apple but simply cannot afford to do so. But prices are starting to come down. This is because many people are leaving the city to escape the rising number of coronavirus infections.
The exodus to the suburbs and elsewhere is so great that rent is now back at 2011 rates in many areas of the city. That means you can now rent rooms in New York for less than $3,000 per month.
So why move to Phoenix, Chicago, Denver, Washington, D.C. or other trendy cities when you can live in the city that never sleeps for a more affordable rate?
Wall Street. Chelsea. Brooklyn. Times Square. Ellis Island. Is there any other place on earth like it?
But these low rates may not be here for long. By the time a vaccine comes and is mass distributed there may be a mass exodus of people flocking back to the city.
If that happens rent prices may soar even higher than they were prior to the pandemic.
You may be able to get a good bagel in Westchester or Scarsdale but will it ever really compare with one from the Lower East Side of Manhattan? You can find an Italian restaurant anywhere but will it really ever be on par with one in Little Italy?
The time to make a decision is now because like all good things this won’t last forever. After all, you buy stocks when prices are low and sell them when prices are high.
The same principle applies here. So don’t miss out. Start your NYC adventure today. Because to be a player you have to live there. You’ll be glad that you did.
Think of those who came before you. Since the Dutch settled what was then New Amsterdam in the 1600s people have come to NYC from all over the world. Walking down the street you can hear hundreds of accents and dialects.
You see the tallest and most impressive buildings in the world. And then there’s the restaurants, theaters, art museums and parks. Would you really want to live anywhere else?
Probably not. And why make that choice when you don’t have to? Living in NYC is now more affordable than ever.
So get on it.
Find rooms in Brooklyn today.
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