NYC Housing Rents Spike As Democrats Welcome Endless Line Of Illegals

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by Tyler Durden
Friday, Mar 01, 2024 - 12:45 PM

New Yorkers are grappling with skyrocketing housing rents despite rents across the nation slowing, if not reversing, in some cases. A lack of affordable housing is driving shelter costs higher in the progressive metro area plagued with elevated living costs, a migrant crisis, and a worsening violent crime wave. 

With new data from the rental site Zudmper indicating that one-bedroom rentals in NYC surged 18% in February to a record high of $4,200, it's puzzling to consider who would choose to live there. Additionally, even median rents in Jersey City, located across the Hudson River from Manhattan, rose 5.4% to $3,140. 

Meanwhile, rents across the country have decreased by .7% this month compared to last year, primarily due to a surge in the construction of new rental units. February represented the fifth straight month of flat or declining year-over-year rent changes nationwide. Yet, this trend of cooling rental prices does not apply to NYC, where a housing shortage continues. 

Source: Bloomberg

Perhaps the housing shortage in NYC has been made worse by the surge of 200,000 illegals bussed into the metro area from the open southern border in the last 18 months. 

Ahead of the November elections, Democrats have stuffed the illegals in schools, hotels, and community centers and have even wanted to give them debit cards pre-loaded with tax-payer funds. One can only assume that the government placing these migrants into apartments across the city will only make the housing affordability crisis worse. 

Given all this, who in their right mind would want to live in a city with record-high shelter costs and out-of-control crime?