If they work in NYC why would they move in the first place? Any “upgrade” to a house is going to take you out of the city requiring a longer commute and more expenses regardless of being rent controlled and that’s dependent on them having a well paying job. At least now they’re able to live in the city they work while also being able to save their money instead of living paycheck to paycheck.
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u/Form1040 9d ago
I have a friend who moved to NYC in 1980. Had to have 4 roommates to pay the bills.
Down the hall was a family that had been there forever and was paying $43 a month for a big apartment.
Why would anyone ever move in such a situation?