Housing prices are skyrocketing across the country — and it shows. In New York City, there are more Airbnbs than apartments for rent, almost no housing vacancies under $1,500 a month and the city board just voted to approve the largest rent increase in stabilized units since 2013.
Watch this living room that hasn't been updated since the '60s get a modern redesign:
In the brief clip, she opened the front door of the narrow apartment, and it slammed into the oven.
“How is this NOT a fire hazard?” she added in the caption.
People were stunned at the price tag of the hazardous apartment.
“How would you even get furniture in that small space?” a user commented.
“My Sims wouldn’t even let me put the door like that smh,” another joked.
Incomes in New York City incomes would have to “double” for renters to afford the available apartments, according to the city’s Department of Housing Preservation and Development.
“Between 2017 and 2021, there was a net loss of about 96,000 units with rents less than $1,500 and a net increase of 107,000 units with rent of $2,300 or more, but this is part of a larger trend over time,” the city reported in its annual Housing and Vacancy Survey.
The median rent in New York City was $2,750 in 2021, which means city-goers would have to earn $110,000 a year (based on the conventional wisdom that rent should be 30% of gross income at most). Meanwhile, the survey also found that while half of the city’s renters pay more than 30%, a third spend over 50% on rent.
This Brooklyn home office gets a California-inspired makeover with just $1,000:
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