When rents will drop, how buyers can get a deal, & more

By Austin Havens-Bowen | July 8, 2022 - 1:30PM

This week readers visited Brick Underground to get a grasp on what it will take for rents to drop in New York City, where renters are currently facing skyrocketing rents and bidding wars. When will they catch a break? It would take “a sustained lack of demand" and more inventory, according to the experts.

Also of interest: NYC's sales market is expected to be even slower than usual this summer. Brick spoke to brokers about the types of deals on which buyers can negotiate a discount.

Here are this week's top five posts:

1) The question everyone's asking: When will rents go down?

2) How buyers can take advantage of the summer sales slowdown

3) The 12 best sites for finding a roommate

4) What are the pros and cons of the new 40-year mortgage option?

5) I was asked to pay a huge broker fee for a NYC rent-stabilized apartment. Are there any limits on what agents can charge?

Austin Havens-Bowen

Staff Writer

Staff writer Austin Havens-Bowen covers the rental market and answers renters' questions in a column called Realty Bites. He previously reported on local news for the Queens Ledger and The Hunts Point Express in the Bronx. He graduated from Hunter College with a BA in media studies. He rents a one-bedroom apartment in Astoria with his boyfriend and their two cats.

SEE MORE BY Austin Havens-Bowen »

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