The rent is still too high in New York City, even for the rich #realestate #shorts

in New York City, these like higher earners that typically would have, you know, bought their first condo um or bought an apartment haven't been able to because interest rates have been so high um that people that need a mortgage to buy in New York City where you know a starter apartment is anywhere from 700,000 to a million um is very difficult. So people that might have already transitioned out of the rental market are still in the rental market and they have more means to pay higher rents as well. So the ...