The Rent is Too Damn High, So New Yorkers Are Buying Homes

Jimmy McMillan might be on to something: a real estate research firm has noticed that more New Yorkers are trying to buy apartments -- because the rent is too damn high.

As it turns out, the perfect storm of inflated rents and low interest rates has pushed would-be renters into the market, according to DNAinfo.

Many home-seekers have complained that their rents have ballooned anywhere from 10 to 20 percent, so they see purchasing as the only economic option.

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Did Michael Wolff Set This Media Panel on Fire?

firepeople outside.jpg
We recently reported on I WANT MEDIA's Media Person of the Year discussion at NYU's Arthur L. Carter Institute of Journalism that took place earlier today, which ended with the building being evacuated by New York's Bravest, the good people of FDNY. But what's wrong with the picture we saw when we got downstairs?

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