In other parts of the country this economic principle is completely reversed. For example: My first apartment was in a nice suburb of Detroit. To find the apartment I went to a friendly broker and told them what I could afford, what amenities I was keen to have and what neighborhood(s) I wanted to be in. They punched all of this into their computer and - whizbang - I had four appointments for that very same day. And it was all free! That’s right, there is excess supply and the broker fee is paid by the building owner.
If the gargantuan rents and miniscule square footage in New York aren’t bad enough, renters are gouged by a broker fee too. I recently handed over an obscene amount of cash (yes the broker demanded payment in cash!) to a broker. Let me share with you the services I received in exchange:
- I received the inconvenience of going to the brokers office to fill out a credit check
- I received the inconvenience of going to the brokers office a second time to sign lease
- I got the apartment
All he did was post an ad in Craig’s List, watch clamoring fools like myself hustle and beg for the apartment, and then finally accept a fistful of Franklin’s. Ahh the powerful forces of free market economies… How I wish I were on the other side of this equation.
All of this is to say that we are movin’ on up to a deluxe apartment in the sky… More realistically we're movin' on up the block to a modest, though significantly larger two bedroom nearer my beloved Astoria Park. It also has a patio with a grand view of Midtown Manhattan, an underground parking garage and best of all is pet friendly... Yes, Harry has a new home.
Methinks I'll be rather busy and will have a sore back.
"Our houses are such unwieldy property that we are often imprisoned rather than housed in them."
-Henry David Thoreau