Despite a rough economy, Manhattan rents continue to climb and are higher now than they were in 2007. A president for an appraisal firm notes that the high prices arise from "a tight credit market that forces people to stay in the rental market and limits new construction." So we looked to the New York Times to bring us tales of "woe," of Manhattanites moving into cubby holes off the Bowery or back into their parents' Brownstones in Brooklyn. Instead, we get a couple who responds to the economic "squeeze" by buying a $1 million place in DUMBO and a group of dudes who decided to pay $1,700 more in rent, cause they wanted to. We've said it before: you're not rich enough to read this newspaper. more ›

The Real Estate Group of New York released its Manhattan Rental Market Report and writes that given the "continued softening" of the rental market and diminished demand, one- and two-bedroom rental prices have dropped, anywhere between 2-5%. However, studio rentals are up (driven by people trading down from bigger spaces to save money, oddly enough) and in the grand scheme of things, given the nutty NYC real estate market, rentals can still ridiculously expensive (see graphic above). more ›