Trapped In The Suburbs: High Rents Hindering Empty Nesters’ Relocation Dreams

February 29, 2016

Many people, after they get married and want to start a family, need to make a break for the suburbs. There they can have their kids, school them, raise them, and send them out into the world themselves. But afterwards, when the house is empty and silent, the suburbs just won’t do anymore. 

A move back to the city is in store. Only, as The New York Times reports, that isn’t always possible. For example, as retired individuals and couples around the New York area feel a desire to move back to the city, they are stopped dead in their tracks as they discover even a modest two-bedroom apartment in Manhattan may cost them $1.5 million.

Spending $1.5 million on 800 to 1000 square feet is tough to rationalize. Renting isn’t an option for many, either, as two-bedroom elevator buildings can see rents upwards of $6,000 a month. Many of these people who had their sights set on a Manhattan lifestyle, have to settle for continuing in the suburbs, or getting an apartment or home somewhere cheaper, like New Jersey.

The grass always seems greener on the other side, but it seems as though there is no longer a gate in the fence, and hurdling it is becoming more and more difficult.

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