The subject of this article is basically about how the apartment buildings of New York has been increasing their price of rent at an incredible speed. Around 2007 was $2,500.00 for a spacious apartment that had two bedrooms and one bath. Currently, the rent has been doubled to an astounding $5,000.00. People have been claiming how the brokers have been running out of money, hence the drastic increase of prices for rent. They say since our threat of bankrupcy for America is so near, banks have been demanding more cash to try and sustain their inventory of money to keep the economy in New York going. The audience for this article would be people who are either renting in New York and are feeling outraged by the sudden increase for the price of rent, or this would be a warning for the people who are planning on living or renting in New York. The places are not only New York but several other places like New Jersey, Boston, Chicago, etc.
The purpose of this article is to inform people on the incontrovertible raising of prices on renting or buying homes or apartments in New York or other major cities.
The tone of the article is quite obvious. The author is showing his disgust and suprise at the sudden raise of prices. The author is setting a tone where is he is informing and warning people about the rent prices and persuading people how the rent prices in New York are unreasonable and rediculous.
My personal opinion, I believe there's nothing to be done with a situation like this. Home value and prices will go up and down according to the economy, so people can't just tell the banks to stop raising the prices, the banks have a reason for raising rent prices. They raise rent prices because they are running out of money, and they are running out of money because people didn't pay the banks back after all the money they borrowed. Overall, I believe the rent price increase is reasonable. Although I don't like the idea, it's the situation of the bank that matters, and without the bank, America is completly screwed.
Here's the link to the article: LINK
This article is from New York Times.
What do you think? Please tell me your opinion.
Dear Author,
ReplyDeleteIncreased prices are reasonable. To a degree.
Sometimes I feel more often than not that housing and other companies abuse the same sorry excuse and bump up the prices.
Consumers can't get money because they're giving it all away to the debts they owe - and housing sales dropped dramatically.
So how do you expect people to pay back the banks when they already lost half their money due to cirumstance?
The population - and the banks - are in a vice no matter what for the time being.