Thursday, October 4, 2007

Like Searching for Meaning in a Pauly Shore Movie

Check out this interesting article from the Wall Street Journal on the insane housing market in NYC. It makes me think I may never experience living in a different apartment as long as I live here. There is no way I'm paying those broker fees, or $2,650 a month.

Prepare to Surf Craigslist, And Couches, to Find a Pad In Manhattan's Tight Market

"MADISON AVENUE 2 BR ---- ONLY $1000 a person!! – SEE TODAY! (Upper East Side)"

NEW YORK -- This real-estate listing from Craigslist.com is the kind of hyper ad that anyone moving to New York City would likely encounter. The manic punctuation reflects the mood of apartment hunting season, which typically peaks in the fall as New Yorkers try to move before snow and recent graduates migrate for the city's myriad opportunities.

Enter the itinerant attorney: Ryan Perry learned that it's easier to find a job than an apartment in New York. The 26-year-old moved from San Francisco last year after finishing law school to take a well-paying job. He was determined to live in downtown Manhattan, a plan that took three months and four sublets to realize.

Mr. Perry didn't initially want to use a real-estate broker to find a rental, but ended up working with several because his long hours precluded time for browsing.

"It was a terrible experience," he says. "Brokers continually show you the same places just because they want to dump them." One apartment's living room was a converted hallway, he says. The managers of a few nice places rejected Mr. Perry because he had only been working a month. "A few would ask for my parents to be guarantors, and I said no. It seemed bizarre."

In the meantime, Mr. Perry sublet rooms in the apartments of other twentysomethings, week to week. "I would move into a room off Craigslist and immediately start calling new places, and in between I'd have to stay at friends' houses," he says. "I'd have dry cleaning over in some area of the city and then when I'd move I'd have to track it down like three days later." In November, through a real-estate broker his friend endorsed, he found a one-bedroom apartment in SoHo, for $1,900 a month.

For the rest of the story, copy and paste this URL : http://online.wsj.com/article/SB119005550334130077.html?mod=rss_PJ_Main

No comments: