Hend Elwahwah
Dr. Hall
4-1-2019
Research memos:
What I have researched about my topic Rent, I had learned a lot about budgeting and gentrification and overall where does the money go? What I have found so far is Mortgage, Utilities, Insurance, Maintenance and Repairs and much more. Many of us think like where does the money go? And me myself, I used to think rent is way too high especially for what you’re getting in new york and prices differ depending where you go in new york. But for an example, we could start off with mortgage. If the landlord owns the property you’re living at he has to pay mortgage and somewhat needs to make a little bit of profit it so he/she could make a living as well. There are pros and cons but I feel like its more cons than pros because the landlord is most definitely well off. Especially compared to low–middle class people renting out your apartments. These low–middle class people probably have a minimum wage job that cant really cover much of their needs and wants. Lets say they pay the rent thats $2,200. Thatll almost be what they make a month and they will probably only have about $200 left for their own wants. That is not okay especially for the only one bedroom — one bathroom apartment. Let alone they have to pay electrical and water bills and much more bills that rent does not cover. Its a two way sorta thing but i think sadly, the cons outweigh the pros.
