Virgil,

If it's any consolation, I got a great deal on a studio recently. I estimate that my rent is about $300 less than typical "market" value, though in this market I suppose typical isn't typical anymore.

I was lucky enough to be in an open-ended share situation, so I just waited and watched for the right apartment to come along. It took several months of looking though (and believe me, I saw some real crap holes in the process), so be patient!

Reminding brokers/building managers of the down market doesn't hurt at the negotiating table either. I got the owner of my building to drop the already low rent by $50 by pointing out the massive layoffs, the bleak economic outlook for the coming year, the fact that some apartments were staying vacant for months (via Craigslist research), and emphasizing my strength as a tenant. If the economy's going to suck, you might as well use it as a bargaining chip!

JH4285:

yeah, hat's pretty much my theory too, which sucks for all of us who have been waiting fo studio rents to drop. I think they'll go down right about the time NY gets too run down to be appealing to the recent arrivals.

Food blogger and author Josh Ozersky has gout, but assures everyone, "I won't be altering my lifestyle at all."

i'll tell you when i've had enough

Maybe studio rentals are staying steady because people are downsizing from larger apartments.

In my completely unscientific observance of Craigslist studios on the Upper West Side over the past few months though (yeah yeah, I trawl Craigslist for fun), more and more sub-$1500 studios are showing up.