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NYC Rents Rising Twice As Fast As Wages, Except for Wealthiest, Study Finds - East Harlem - New York

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Manhattan skyline view from the roof deck of a Park Slope building ." /> Manhattan skyline view from the roof deck of a Park Slope building . View Full Caption Corcoran Group MANHATTAN— Yes, New York City is way less affordable now than seven years ago. Case in point: An apartment going for $2,000 a month for rent in 2010 would now get $2,657 a month, a report published Wednesday from real estate search engine StreetEasy reveals. Compounding the city’s affordability crisis: rents in the city rose twice as fast as wages, according to the analysis, which compared the StreetEasy Rent Index with wage data from the city’s Department of Labor. While median rents increased 3 .9 percent a year since 2010, wages increased by 1.8 percent over the same period. Those working in the city’s lowest wage jobs were hit hardest. Low- wage earners — those in the bottom 20 percent of the workforce, which represent a little more than 800,000 of the roughly 4.1 million employed New Yorkers ...

Reno rent market at record-high prices, near-zero vacancy

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Damonte Ranch area is a sign of the city's need for housing in Reno, Nev. The recent influx of new workers combined with near-zero residential development during the recession gave birth to a classic supply-and-demand scenario that saw the cost of housing skyrocket in the Biggest Little City. (Andy Barron/The Reno Gazette-Journal via AP) Photo: Andy Barron, AP / The Reno Gazette-Journal" class="landscape" /> residential development during the recession gave birth to a classic supply-and-demand scenario that saw the cost of housing skyrocket in the Biggest Little City. (Andy Barron/The Reno Gazette-Journal via AP) Photo: Andy Barron, AP / The Reno Gazette-Journal" class="landscape" src="src" /> Damonte Ranch area is a sign of the city's need for housing in Reno, Nev. The recent influx of new workers combined with near-zero residential development during the recession gave birth to a classic supply-and-demand scenario that ...

Self-Storage Demand Remains Strong as Supply Grows

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storage facilities in the greater Milwaukee area for $17 million earlier this year. The sales price was the highest on record for a self- storage portfolio in the Milwaukee-Waukesha- West Allis metropolitan statistical area , according to Marcus & Millichap." /> Marcus & Millichap brokered the sale of two self- storage facilities in the greater Milwaukee area for $17 million earlier this year. The sales price was the highest on record for a self- storage portfolio in the Milwaukee-Waukesha- West Allis metropolitan statistical area , according to Marcus & Millichap. Halfway through a year of transition, the self- storage sector continues to undergo changing investor dynamics while feeling the effects of political uncertainty in Washington. Yet opportunities abound, particularly in the Midwest, where a moderate development pipeline has kept supply in check with demand. We’re currently witnessing a pool of buyers rethink their approach amid rising interest rat...

Serena Williams on Pregnancy, Power, and Coming Back to Center Court

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On a Sunday morning in July—specifically the middle Sunday of Wimbledon, when the players rest and the trampled lawns recover— Serena Williams awoke from one of those vivid dreams that are a common feature in the hormonal rush of pregnancy. In it she was competing, except that she wasn’t at Wimbledon or even on a tennis court. Instead this was the Williams Invitational, the mock-seriously titled (but very real) dance tournament that Serena and Venus Williams have mounted each spring for the better part of a decade and that, Serena explains , has gone from fun to serious to Broadway to Vegas in short order. In the dream, Serena was suspended from the ceiling, twirling inside a hoop attached to a long ribbon. (True story: Williams has an aerial-dancing coach in Florida and another in California.) Sequins and wigs may also have been involved, though the details are fuzzy. “What do you think it means?” Williams asks as her fiancĂ©, Alexis Ohanian, 34, works on coffee and soft-scrambled eg...