My New York Rentals- Blogging on the Queens and Long Island Rental Market

World's Most Expensive Rental Markets

According to the real estate article World's Most Expensive Rental Markets featured on Forbes.com the American dollar's recent plunge has made rental markets throughout the world rather pricey.  For example, in Hong Kong, according to dollar adjustments, a two-bedroom, unfurnished apartment costs over $6,000 a month in comparison to the $4,000 in Moscow.  According to calculate these figures, Forbes.com, has adjusted local currencies to dollars.  However, the value of the dollar has remained daunting, as in 2007, the dollar was at a record low in comparsion to the euro, falling 11% in 2006.  Also, against the pound, the dollar hit a record 25-year low as well in 2007. 

Read the entire real estate feature World's Most Expensive Rental Markets on Forbes.com
In Depth: World's Most Expensive Rental Markets on Forbes.com

Best And Worst Cities For Renters

According to Best And Worst Cities For Renters, an article recently featured on Forbes.com, for most renters paying their monthly rent feels like giving their money away, for the fact that equity isn't built and there are no tax benefits.  However, renting makes sense for those unable to buy real estate in a housing market this unstable.  Americans such as these are growing in number, with mortgage applications falling to their lowest level in a year.  Nonetheless, these figures are good news for landlords in New York City and SanFranciso, where tenants pay the highest rents in the country by a significant margin.

Read the entire article Best And Worst Cities For Renters on Forbes.com
In Pictures: Most Expensive Cities For Renters
In Pictures: Least Expensive Cities For Renters

Best Renters' Markets

According an interesting article: Best Renters' Markets to Forbes.com would-be buyers are renters, who wait for the housing market to bottom out.  Similar to a buyers' market in the residential market, the best renters' market occurs when supply is abundant, growth in price is flat and renters are able to get the best value for their dollar based on location and space.  Furthermore, at this present time, as the housing inventory continues to increase, the rental market has proved the best alternate plan for potential buyers.

Read the entire article: Best Renters' Markets on Forbes.com
In Pictures: Best Renters' Markets on Forbes.com

Best Markets For Landlords

Forbes.com recently featured an informative rental article: Best Markets For Landlords, that argues that an increasing number of potential buyers are opting out of the buying market and choosing, instead to rent.  These recent developments have proved to be good news for landlords and investors.  With the mortgage market drastically changing for the worst, foreclosures and risky lending have further denegrated the real estate industry.  Lenders have in an attempt to rectify the issue, tightentened their lending standards and practices, which has made attractive mortgages much harder to come by.  However, Forbes.com has constructed a list of the best markets for landlords, in which New York City has made the top.  In the last 12 months rents have jumped between 7.4% and 7.9% across the classification of luxury.  Currently, about 80% of New York's population rents, because the city has mostly unaffordable housing.

Read the entire article: Best Markets For Landlords on Forbes.com
In Pictures: Best Markets For Landlords on Forbes.com

How to Improve Your Credit

If you are getting ready to rent an apartment or buy a home then you should have an idea what your credit score is because it is a key factor when it comes to purchasing or renting.  If your FICO score isn't anything to brag about then you should check out Forbes.com 10 Ways to Improve Your Credit.

Here are some of the tips from Forbes.com

1.  Keep a small number of revolving accounts and pay them off each month.

2.  Don't apply for each and every credit card because that negatively affects your score

3.  If you forget a loan payment ask for forgiveness.

4.  Apply for one new card and do not use it.  This will increase your total available credit

5.  Make larger payments than the minimum and pay them on time

6.  Pay off credit card debt for cards who you owe more than the credit limit.

7.  Don't allow companies run your credit unless it is necessary.

8.  If you are getting divorced make sure you contact all credit card companies and settle all joint accounts.

9.  Try not to max out a credit card.

10.  Do not close lines of credit that were used responsibly.

Read the entire article 10 Ways to Improve Your Credit on Forbes.com

Most Expensive U.S. Rentals 2007

Matt Woolsey of Forbes.com says, "For the second consecutive year, Forbes.com ranked the most expensive house and apartment rentals in the ten largest U.S. markets. From New York to Las Vegas to San Francisco those willing to drop tens of thousands a month on temporary housing will find luxury apartments offering sweeping park views, roomy poker players’ pads and airy lofts above art museums. "

Read Most Expensive U.S. Rentals 2007 on Forbes.com

Condos Cool Off, Apartments Heat Up

In a Forbes.com article Condos Cool Off, Apartments Heat Up the recent trends in the changing real estate market are discussed.  The rental market is reporting the lowest vacancy rate since the third quarter of 2001.  More Condos which were going to be put up for sale are instead being put up as rentals.

The Most Expensive Rental Markets in America

Forbes.com recently did an article on the MOST EXPENSIVE RENTAL MARKETS IN AMERICA.    As prices of homes increase many people seem to be turning to RENTING.  As more people turn to renting inventory of apartments has been decreasing as well.  To see the most expensive rental market in America visit Forbes.com.  (Hint The Same City Topped Last Year's List)