The Residential Real Estate Post-Crash Index-Moderated Message Board

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Strategies & Market Trends : The Residential Real Estate Post-Crash Index-Moderated

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To: Les H who wrote (44618)	10/9/2011 11:23:55 PM
From: Les H	2 Recommendations Read Replies (1) of 119360

New Yorkers' Answer To Recession: Become Hoteliers Seeing as there are no actual jobs available any more, New Yorkers have turned to the tried and true method of enriching themselves using the sheer brilliance of the city: real estate. Specifically, renting out their apartments as illegal hotels to tourists. "I'm an entrepreneur, and I saw this as another opportunity," a woman who rents out her Brooklyn apartment for $100/night tells the Post. "I've been booked for the past month and a half, save for a few nights." We'd like to take this opportunity to announce that a lovely broom closet in the Lower East Side that is available for $30/hour. A 26-year-old former hedge fund employee who lost his job says that he clears $60K annually by renting out his three bedroom apartment in the Lower East Side, and he's since moved elsewhere so he can take full advantage of his relatively inexpensive $2,500/month rent. continued... gothamist.com

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