Covid-discounts-party is over

New York landlords are jacking up rents — often by 50, 60 or 70% — on tenants who locked in deals last year when prices were in freefall.

For ten months, the pandemic-hit rental market in Manhattan has given people the chance of a lifetime to move into the apartment of their dreams. Now steep hikes mean some renters are being forced to move at a time when the market is roaring back to nearly pre-pandemic levels.

Tenants, like 24-year-old Claire Smith, have limited options. Though she knows she has to find a new place, she's pinning her hopes on a cooling of the market some predict will happen in the fall.

MOCTEN

 

In January 1993, EUNET launched the first online news website, MOCTEN.com (stands for Music Opinions Culture Technology Economy News), led by Eric Bach, Teus Hagen, Peter Collinson, Julf Helsingius, Daniel Karrenberg,...  Read more

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