So can someone explain how people can afford this in Los Angeles and New York because when I look it seems like it's usually around $ 1800-2000 for a one-room apartment?
Seems astounding even compared to my expensive city in Europe.

I get that wages are better for high paid jobs and people working in those fields could afford it, but say a waitress then? How do they afford to live there, do shitloads of people just have several jobs or are they living with roommates?

Even as an engineer I don't think I could see myself wasting that much in rent every month for just an apartment and would probably get a flatmate or something.

Good luck finding an apartment for $1800 in a good neighborhood in New York.

^only place I can think of is Astoria. You can find a half-decent apartment for around that price there. And it's only a 20-25 minute subway ride into the city.

Quote: (01-27-2019 08:02 PM)No More Mr. Soy Boy Wrote:  

So can someone explain how people can afford this in Los Angeles and New York because when I look it seems like it's usually around $ 1800-2000 for a one-room apartment?
Seems astounding even compared to my expensive city in Europe.

I get that wages are better for high paid jobs and people working in those fields could afford it, but say a waitress then? How do they afford to live there, do shitloads of people just have several jobs or are they living with roommates?

Even as an engineer I don't think I could see myself wasting that much in rent every month for just an apartment and would probably get a flatmate or something.

Trust fund kiddos. Poor money management. Living paycheck to paycheck. Subsidized housing. Women who want access to the richest guys.

1800 would get you an okay studio in some farther out areas in Brooklyn, or like previously mentioned in Queens. Manhattan forget it, unless it's 90+ street or FDR drive (e.g. on the eastern edge which is rundown and away from everything). Even then the place would be pretty bad.

Many people in NYC live with roommates, it's quite common since the rents are very high. However there are numerous well paid professionals who can afford these apartments (and much more expensive ones at that).

Quote: (01-27-2019 08:07 PM)Brodiaga Wrote:  

Good luck finding an apartment for $1800 in a good neighborhood in New York.

I'm in a good neighborhood in Manhattan and have a rent stabilized studio for 1800/mo(no fee and rent stabilized). I don't want to say where exactly I am because I don't want to dox myself but I did have to look for a couple of weeks to get this good of a deal. I found it on streeteasy.com and contacted the broker to set up a time to view it the next day, and that night I got all of the forms in and did the credit check. The next day I gave the first and last months rent and signed the lease.

As for "how to pay for it", I make pretty good money and save a lot of it and would not be making nearly this much in another state(with the possible exception of the bay area). I think it's a given that we make more money in NYC because most jobs pay better in NYC.

Long island City is starting to look pretty nice, same for Williamsburg, Dumbo, Park Slope and Brooklyn Heights in Brooklyn, and they basically charge Manhattan prices at this point.

Really? Wow. I still find it absolutely mindblowing.

I had plans to move there but no way I could get used to wasting that much money in rent. Maybe work for 2-3 years and live with a few roommates or in a shitty hostel to save up cash I could bring to Europe or maybe even retire myself if I stay for a bit longer.

Probably more than $ 20 000 per year I could spend better in Europe.

^^^^ I agree with this because when you peel it back there are lots of people who don't make all that much money that are able to swing these obscene living expenses in the big major cities.

Lots of girls who work party time doing bogus work who have rent much higher than mine. The math never adds up as to how they can afford the lifestyle so you suspect that they have some sort of support system or they are in crushing debt or live paycheck to paycheck.

But... This also does not mean there are not people who make good money. There is very much a top and bottom to income and wealth where you have lots of well paid individuals, and folks who make crumbs. It is the folks who are in the middle who are getting fucked the hardest of course and they have to compromise with living farther out, with 8 roommates, or living in some substandard slum that is barley up to the fire code.

There is an income bubble at the moment t with lots of people making enough money doing bogus shit like "wellness coaching" with like 3 clients who pay just enough for them to live it up and fill all the gaps from the party time job at the shipping mall. Of course, the value add in lots of these bogus jobs is minimal but as I mentioned, there is lots of people these days with lots of money and they need someplace to spend it so there is indeed a surge of people who are satisfying that demand.

What dosnt add up for me is folks who can do the costal city lifestyle and still travel nonstop.

Overall it just appears that problem have support or crushing debt. I find typically that folks who are earning good fucking moment are very busy. Very few have the right situation where they have money working for them and a very flexible lifestyle. It us really dispelling the old view of the "big city" where evreyone is grinding to make it. Some still fall into this category, but many are just landing here out of convenience with little intention to hustle in the large ecosystem of the city.

Even I my own situation... I remember that that even my father, couldn't help himself and was giving both my sisters money when they first ventured out on their own. Of course, I never got that support (I never asked for it), but it just appears evrey girl has instant access to daddy's bank account. It must be something father's are hardwired to do; not to let their daughters even suffer the slightest.

It would be interesting for a honest and robust survey to get an idea of what young people in the city do for money and how they make it. Money is still very taboo to talk about in North American culture so all you can do is take educated guseses and work of a shit ton of anecdotes.

Quote: (01-27-2019 08:24 PM)No More Mr. Soy Boy Wrote:  

Really? Wow. I still find it absolutely mindblowing.

I had plans to move there but no way I could get used to wasting that much money in rent. Maybe work for 2-3 years and live with a few roommates or in a shitty hostel to save up cash I could bring to Europe. Probably more than $ 20 000 per year I could spend better in Europe.

I don't get it, you basically sound like you want to be in a situation where you have access to jobs or a career where you make a lot of money but don't want to live in a city with a high cost of living.

Atlanta Georgia and a few spots in Texas might offer that, or if you are location independent, you can do your thing from Colombia or Brazil or SEA or EE and make your money and live in a poosey paradise.

New York = Rent across the Hudson River in NJ. I have a 2 bedroom on the market for $1 600.

One of my tenants needs a roommate (or two). 3 bedrooms, 1,800 sqft.

Downside..... your arent in Manhattan. You have to put up with a short commute.

There's a vast "off the grid" economy out there, and it's best not to ask how people make their money.

Young girls living in expensive apartments...well, that's pretty easy to guess how they are making the rent.

Depending on your aspirations, industry you work in, etc it can still be advantageous to grunt it out in a big metropolis such as NYC. Manhattan maybe has turned into a club for the wealthy but the spirit of the city and the hustle mentality isn't dead yet. Depending on what you're trying to do, grunting in that ecosystem can be of great benefit. Some may say that with the internet, and the digital age it isn't needed... that can be true to an extent... But I'm old school that nothing beats a handshake and prispecting and networking with people in real time face to face.

But, it depends on your aspirations. If you just want to be a well paid accountant with no aspirations to land in a big time role in a big time organization then you are better off living in Chicago, Houston or some shit with more palatable living costs. If you have aspirations to work for a big investment firm and love that hellish boiler room environment of long work weeks and drugs then you gotta be in NYC.

What is also interesting (this is a hobby of mine to monitor) is how jobs are shifting and clustering. The original premise was that with the digital age jobs would scatter out of the big cites and make nodes in cheaper places, but we see, still, jobs want to be where the action is and even more are still clustering in the big major cities. The Amazon HQ scam was proof enough as they trolled all of North America without ever admitting until the end that they never had any intention but to be in NYC or DC. Places such as Philly, Chicago, Denver, etc would have made good sense, but Amazon didn't want anything to do with those shithole cities (not my view, but these big companies view them as lesser places) and doubled down on the already established elite costal cities.

Quote: (01-27-2019 08:36 PM)eradicator Wrote:  

I don't get it, you basically sound like you want to be in a situation where you have access to jobs or a career where you make a lot of money but don't want to live in a city with a high cost of living.

Atlanta Georgia and a few spots in Texas might offer that, or if you are location independent, you can do your thing from Colombia or Brazil or SEA or EE and make your money and live in a poosey paradise.

I would not spend $ 50 on a cheeseburger even if I was making 7 figures per year, no. I wouldn't mind living there but not for long and I could not spend that much just for a small apartment, I would rather live in a shitty place then and hustle a few years to be able to retire earlier. I see it as more of a choice between:

Choice 1: Spend more than $ 21600 per year on rent for a probably pretty mediocre apartment.

Choice 2: Live in a shitty hostel or with a few flatmates in order to not spend much money on rent and then be able to use that money I saved to retire earlier or spend it on things I value more than having an apartment that probably wont be even half as good as I can get in a few other cool cities in Europe.
Every year saving money on rent in NY would mean about 5 years in Budapest, with a much better apartment.

Guess it's a matter of taste. But for me it's an obvious choice.

We make alot more money than europeans...

I can't deal with roommates. Or hostels(unless you like living out of a suitcase).

You asked how people can afford it in nyc, a lot of jobs are union jobs. If you work in a hotel, or as a building doorman, or as a waiter or bartender, and you are part of the union and you stick with the same job for a few years, pretty quickly you are making 6 figures.

That is part of why so many buildings here have insane rent, they have all of those doormen that really don't do much at all and make an insanely high wage(6 figures and I'd say a third to half of them are worthless and no real skills at all)

Add Miami to that list if you want to have a water view. Water view makes the girls wet.

Quote: (01-27-2019 09:37 PM)Atlanta Man Wrote:  

Add Miami to that list if you want to have a water view. Water view makes the girls wet.

But are all water views equal?

Does a penthouse looking over the lake in Milwaukee get you the same pussy miles as a basic condo in Miami that has an okay view of the water?

Does a baller in Des Moines have the same good lifestyle as someone is doing okay for himself in NYC or Miami?

I ask this because I hear alot of location independent dudes that are happy in smaller places. One guy I know is based in Savannah Georgia, works in tech, and loves it. He has no desire to live in SF/SV. This of course maybe a personal choice and taste but I do wonder if you can get euaal lifestyle when you attempt to normalize incomes and living arrangements.

There are 1 bedroom apartments here in the valley starting at $1200+.

But to answer Soyboy's question: get more money or move to a better locale.

Being priced out of a city is a sign that you aren't supposed to live there sadly.

Or get room mates.

I live close to the westside of Los Angeles, I pay nearly $1800 for a 1 bed, but I got lucky. The average place in my area costs around $400-$700 more. If you're willing to share, you can easily find a place $1200 or cheaper.

If you live in the valley, which is about 30 mins north of LA, then prices are substantially cheaper. I used to have a 2 bed in the valley and my rent was less than $1300. I know a guy who's renting in Reseda for $900/month.

Also, you make a lot more money in the US than Europe. If I moved to London and did the same job as I have in LA, my salary would halve. The only way my salary would match is if I did the same role in London investment bank.

Once you graduate fresh from an undergrad, you're looking at least around $50k/year. Grad school, at least $80K+/year. You can easily afford LA rent on these salaries if you're willing to share or willing to live a bit further out and commute in.

If you want to be next to the beach, then share in places like Hermosa Beach or Redondo Beach. There are places less than 20 yards from the beach which are affordable. You can rent in the houses which are right behind beach front properties.

I've never shared in all the time I've been in LA and hopefully, I never will. I'd rather pay the extra $500/month for piece of mind.

You can live in Manhattan on $1200-1300 with a few roommates.

Rent: 1200
Food: 1000
Other: 800 (metro pass, gym, parties)

That's 3000/month post-tax, not much at all. Rent in Brooklyn/Jersey is even cheaper, at 800-1000 (with roommates).

For 3k/month you get access to the best job market in the world and the only city where girls outnumber guys.

If you are a guy, you better be working for a Big 4/Investment Bank/Hedging Company/Top tier insurance company, and make at least $150k and over or have roommates that you can trust.

If you are a chick, well, I think it is pretty obvious how they can do it if they are not working for a prestigious company.

How old are you guys that are saying just get some roommates? I just can't see it being a good thing after mid-late 20s.

$1800 is what you pay for a nice one bedroom in Miami, I thought NYC was much more expensive.

Quote: (01-27-2019 08:53 PM)No More Mr. Soy Boy Wrote:  

I would not spend $ 50 on a cheeseburger even if I was making 7 figures per year, no.

You say that because you're not making7 figures, those 7 figures are just an hypothetical in your mind because if you really were making that kind of money you wouldn't be bothered with it.

A lot of people have roommates. More people live in rough areas. Even more people live on the outskirts and in the suburbs where it is cheaper to rent but you wind up spending the same amount of money per month anyway when you add in your commute.

Also this:

Quote: (01-27-2019 10:41 PM)steezyy Wrote:  

You can live in Manhattan on $1200-1300 with a few roommates.
Rent: 1200
Food: 1000
Other: 800 (metro pass, gym, parties)

Gees...what do you eat? Spending almost as much on food as on rent!