Author: mell8 (Page 1 of 3)

Why is NYC so expensive? : https://inewsnetwork.net/6569/investigations/why-is-nyc-so-expensive/

In this article made by Kai Ferkel she talks about the many reasons why NYC is so expensive which she separated into many factors, the first one being transportation how living in NYC transportation is a not something tobe worried about since there are many ways you could transport around It could be through a car, bus,train, and taxi, which is a thing that is a major factor on the elevated prices, she also metioned food being a big influence because if you live around a place were there is a lot of comercial places like restaurants the rent is usually high because of the many food options, and the main reason the author said why is so expensive is because of real estate since NYC is a very urban area with diversity and with a lot jobs many people like to purchase property in NYC because they know they would get to rent to the place quick which make the real estate value price higher which make rent higher.

In the article ive found some pretty intereeting point that could help me answer my question and the following lines are  one of those pieces ive found.” Rent is so expensive in NYC because of the convenience – it just allows renters to raise the price, whereas in places like Arizona doing things is less convenient so renters charge less for places.The reason some places are less expensive than New York is because NY Has everything and demand is just higher in NY than in any other place.” These lines give me a big amount of information since it basically sum up why NYC is so expensive in a couple sentences and gives the reasons why, which is because NYC has it all transportation, diversity, job opportunity, and is a traveler friendly environment.

Another main piece of evidence I found on this article is that another main reason why NYC is expensive is because there are many activities you could do in the city, we could see the article adress this when the author said.” New York City is full of fun things to do. You can go see a really expensive movie for around $16 a ticket. Although movies are very expensive, movie theaters within NYC are at a very nice quality.” These lines further conclude on answering my question by showing how many people know that New York is a place were you could do many stuff and is why many tourist come visit the big apple every year, because there is always something you could do in NYC in any time of the day, from this article ive actually solved most of my questions on why prices are increasing on NYC all gye time and is because there are many factors that contribute and all those factors are constantly increasing which make rent increase as well.

Question:  How is the affordability of living in New York City costing families and the neighborhood?

in major cites and states renting a space has become expensive in order to rent an apartment your income has to 3 times the amount you make. Many family make below the median household income forcing many to move out of New York City into upstate, Long Island or even another state. Many apartments are being rented too high for tiny space and that without including their other expenses. Many apartments have a section for Low income families but some don’t even reach the requirements to live in those leading to one apartment with more than one family inside. In certain neighborhood it cheaper, easier, and convenient of paying for a room than for the whole apartment. this an issued that isn’t going to fix over night since it not just with real estate but with uncontrolled rent rising every year.

what I want to know/find out

why is the cause of rent increasing rapidly?

what happens to the many families that can’t afford nyc ?

how have the state responded back to rent increasing?

why does one apartment cost more in certain neighborhoods than other ones and why aren’t neighborhood treated the same?

Learned

The government has many programs set up for low income families such as federal rental assistance including blooding more affordable housing. It not only low income families that want to leave NYC but also the wealthy families. Another thing is New York is a large job market. Since some people can’t afford an apartment by themselves they usually have to rent a room in order to make rent payments causing them to be overcrowded. This causing many problems for little kids who are growing in unstable household due to  switching schools, familiar places and faces to often, It lowers their academic success in school.

Citations

https://www.cbpp.org/research/housing/child-care-and-housing-big-expenses-with-too-little-help-available

https://www.businessinsider.com/how-expensive-is-new-york-city-mind-blowing-facts-2019-6

https://www1.nyc.gov/site/housing/problem/problem.page