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I've been living here for a long time. Rents are astronomical. A building near me that was renting for $4300. for a one bedroom is now getting $7600. for a one bedroom. The thing to do now is to buy if you can. Prices haven't come up that much and there is a lot of inventory for purchase. Not so much for rent.

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Contrary to OP, I'm having trouble imagining tech and the arts thriving in NYC, if this keeps up. Will it become one of those cities where lots of the properties are really being used as investments, not homes or commercial spaces? And the edges of what we consider the metro area get pushed further and further out? Even more so than pre-pandemic? Someone explain the possible futures here to me if you can

The government also seems unfriendly towards innovation. Basically they're protecting old capital, which isn't surprising, that's the way it goes.

I'd be cautious buying into NY real estate. As far as rent goes if my job didn't cover the cost adequately I'd simply not live there. Buying something just because it's already pricey isn't generally a smart move, and pouring too much of your life and savings into a single market increases the risks.

It doesn’t seem that bad

https://www.zillow.com/

You mean in Manhattan?! Even there …

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