Sentences with phrase «soaring rents drive»
A version of this article appears in print on December 7, 2012, on Page A1 of the New York edition with the headline: Soaring Rents Drive a Boom In Apartments.
https://www.nytimes.com/ Not exact matches
«At a time when average New Yorkers are paying an unsustainable 40 % of their income towards rent and many of us are being driven out of our neighborhoods due to soaring costs, Airbnb's worst users are contributing to a shortage of available and affordable housing,» the email says.
And those being priced out of home ownership are leasing apartments instead — driving up already soaring rents in the city, according to Urbanation, a market analysis firm.
While limited inventory, tight credit and down - payment requirements make it hard for many millennials to achieve the American Dream, soaring rents and the likelihood the Federal Reserve will increase interest rates later this year may drive more of them to explore buying, said Stan Humphries, chief economist at Seattle - based Zillow Group.