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A plain, one-bedroom apartment in Williston, N.D., rents for $2,100 a month. For this price, you could rent a one-bedroom apartment in New York City. Williston is not New York City. There are 30,000 residents and one department store. The nearest city is two hours away. http://www.npr.org/blogs/money/2013/01/10/168972151/the-north-dakota-town-where-a-one-bedroom-apartment-rents-for-2-100-a-month by Meredith Galante Building upwards seemed to be the most efficient way to jam more people in Manhattan for years. But now, even the sky seems to have reached its limit, and the only place left to build is Brooklyn. While Manhattan is planning 5,000 new residential units, Brooklyn has plans for more than 14,000 new units, Nancy Packes, a consultant to some of the city’s largest developers, told the The Wall Street Journal. Packes told The WSJ that the [...] Jimmy McMillan — the infamous founder of the “Rent Is Too Damn High” party — could soon lose his rent-controlled Manhattan apartment … this according to a NYC judge. It’s all over a dispute with McMillan’s landlord, who is now demanding to see financial documents to prove Jimmy’s still actually living in the apartment — because if he’s not, it’s a big problem. According to the NY Post, Jimmy admitted after court [...] Looking at the relative prices of buying and renting homes in Silicon Valley, Manhattan and a few other places is enough to make you wonder whether parts of the housing market are still due for a crash. To consider that question in more detail, I had a conversation with Mark Zandi, the chief economist at Moody’s Analytics, which provided much of the data for my column: Q. I’m [...] |
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