, Columnist
I May Buy Because the Rent Is Just Too Damn High
The out-of-control rental market in New York City and elsewhere is making homebuying more attractive to some, even if it’s more expensive.
No, thanks.
Photographer: Gabby Jones/Bloomberg
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With rents skyrocketing across the US — and even more so in New York City — this once die-hard renter is faced with a reckoning about whether it finally makes more sense to buy.
Sure, there’s always been a premium to live in New York and other major cities, but rental costs have become not only outrageous, but also wildly unpredictable.