The other crazy part of the framing is that while sure, apartment rents are down slightly from all-time highs, they're still up over 20% in just two years.
Even as someone with a decent amount of my net-worth wrapped up in real-estate, a real-estate crash can't come soon enough. Housing ourselves is eating far too much of the average person's budget, and I hope this small dip in rents is a harbinger of much bigger drops to come.
Definitely landlord. WSJ has also been pushing the "no one wants to work anymore", "quiet quitting", "WFH workers are unproductive/cheating" etc. narrative pretty hard. They (and their readership) have been center-right for a long time now.
Lots of wall street people rent. Renting is actually a good experience if you're rich and nothing is for sale in Manhattan anyway so there's not much of a choice.
I think Barron's is probably more targeted to people that actually work on Wall Street. I suspect Manhattan finance people make up <1% of the people that subscribe to WSJ.
Yup. The main attraction of buying/owning vs renting is reduction of risk/uncertainty. If you're rich (>double-digit million net worth) and not stupid (hold your entire net worth in crypto coins), you don't have to care about uncertainly. With 10M net worth, you can get a few 10k from just interests or dividends, so you can rent something pretty nice anywhere in the world on a whim.
Of all the low-effort ChatGPT grifts, I'd love to see one that de-sensationalized headlines. A headline should be the shortest possible summary of the rest of the article.
Good advice in general, but there's additional information coded in the words chosen. It shouldn't be a surprise that the Wall Street Journal would see falling rents as a "crush" given it's readership probably leans more towards landlord than tenant.
Yea, I do see that coded language, I just guess I’m a bit tired of picking apart language instead of discussing content. I’m not surprised at the headline for the same reason as you: “given its readership probably means more towards landlord than tenant.”