Landlords want $5,000 for a 1BR apartment in NYC

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Landlords in NYC are charging crazy prices for one bedroom apartments. As much as $5,000 for a small apartment less than 700 SF. This is a sign that the New York City rental crisis has gotten even worse in recent years.

With most New Yorkers unable to afford the rent. The median household income in Manhattan is barely over $100,000. Not enough for someone to afford their own apartment.

One has to wonder how sustainable this NYC rental bubble is. Because at some point - people will get completely priced out.
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