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Papa--Mochi t1_j7z4umt wrote

Reply to comment by Freddy-Sez in Median New York rent passes $4,000 a month in January by geoxol

>Does anyone who lived through 2020 honestly believe there was not a massive influx of people back into the city in 2021 and 2022?

I know one entity that doesn't believe that; the census. It shows that population in summer 2021 was 400,000 down on April 2020.

Demand to live in NYC is depressed, likely temporarily, and right now we're losing more people than we're gaining.

I totally understand why people will do a ton of mental gymnastics to avoid accepting this fact, but it is what it is.

We like it here. That's all that matters.

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Freddy-Sez t1_j7zkg44 wrote

That’s an estimate from 18 months ago. Rents peaked a full year after that

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Papa--Mochi t1_j7zkyii wrote

I know, but you said summer 2021 was difficult to rent an apartment. Given population hadn't recovered, that clearly wasn't due to demand, but artificially limited supply.

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lupuscapabilis t1_j84kfus wrote

Rents peaked once landlords were again able to evict people.

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