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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