New York, L.A. Nightlife Lockdowns Sending Renters to Suburbs


Bloomberg (July 20, 2020) -- Apartment landlords in big international cities like New York and Los Angeles, where nightlife has gone dark and office workers are staying home, are losing tenants to their suburban counterparts.

Landlord revenue from rent collection in urban centers fell 1.4% in June compared with a year earlier, according to data from RealPage Inc. In the suburbs revenue jumped 2.2%. That gap is the widest its ever been in data going back to the mid-2000s, RealPage said.

Read more at: Bloomberg