Builder of New Townhomes for Sale in Middletown, NY Discusses NYC Rental Prices

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Following the publication of a New York Times article that discusses the factors contributing to the prohibitive costs of city living, Brian Rosen, builder of new homes for sale in Orange County, issues a statement.

On May 24, Brian Rosen, builder of the new homes for sale in Middletown, NY, at Highrose Ridge, comments on the skyrocketing price of rental housing in the boroughs.

According to an article from the New York Times, New York City housing has become very expensive because demand from full time residents has increased, while the inventory has continually tightened.

According to 2011 statistics released by the Furman Center for Real Estate and Urban Policy, 31% of households in New York are, “severely rent burdened”, which is defined as spending more than 50 percent of their household income on rent. Another 24% of households in New York are, “moderately rent burdened”, spending more than 30% of their household income on rent. Collectively, over 55% of New York households face a financial housing hardship.

Key factors contributing to the high price of housing in New York City are the “high concentration of restaurants and theaters” and the “greater variety of high-end goods.” While this gives those with more income many desirable spending options, those with less income have to contend not only with the cost of housing but with the additional cost of high-priced amenities they can’t as easily afford.

The higher salaries offered by jobs in New York are also accounted for in higher housing prices. For highly skilled workers, “access to lucrative jobs nearby is baked into the cost of an apartment,” while lower and mid-tier workers, “are pinched by the higher cost of housing.”

Brian Rosen, President of Rosen Property Group, a family-owned company building the new homes for sale in Middletown, NY at Highrose Ridge, says that the city’s tight housing inventory means the situation is here to stay for the foreseeable future. “Almost a quarter of the city’s housing stock is subsidized, and over half of it is rent-regulated. The city has limited land to build on, and a heap of regulatory and zoning restrictions that hinder the development of dynamic housing for all income brackets. And construction costs in the city are extremely high, so builders are forced to pass those costs down. This is part of motivation behind the consistent exodus out of the city by workers looking to establish a family home with financing they can sustain. People want a nest with some sense of security.”

With the beautiful homes at Highrose Ridge, the second- and third-generation family business at Rosen Property Group returns to its roots as a hands-on residential homebuilder with tremendous attention to detail and a strong commitment to value-driven housing. Designed for first-time home buyers, growing families and mature adults, Highrose Ridge is the perfect place to grow.

Highrose Ridge features several spacious three-bedroom townhome models available in a scenic hillside setting in Orange County. Our neighborhood is conveniently located in close proximity to major highways, including I-84, Route 17 and the New York State Thruway, making it an easy commute to Manhattan, the boroughs, Westchester, northern New Jersey, or anywhere in the tri-state area. It's country living that is completely convenient. Start your family traditions with us! Call: (845) 344-4600 or visit highroseridge.com today to find out how you can secure your dream home!
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Vicki Bibbo
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