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Well, unfortunately, nearly everywhere across the country.
As a cultural and financial hub, NYC attracts people from all over the world.
Post-pandemic, the city has seen a resurgence in demand, driving rent prices upward once again.
Its important for retirees to consider the financial implications before deciding to move to New York City.
Retirees may need to look outside of the city center or consider alternative cities in the Bay Area.
Denver
Perkins highlighted how the increased demand for housing has pushed rent prices higher in Denver.
This tech boom, combined with the citysvibrant music sceneand cultural attractions, has led to rapid population growth.
Unfortunately, Perkins added, … housing development hasnt kept pace, resulting in skyrocketing rents.
Despite the heat, Phoenix remains a popular retirement destination.
However, Kellzi highlighted that the … rapid population growth andlimited housing supplyare causing rents to surge.
And as a result, rent prices have surged.
What Do All These Places Have in Common?
These rapidly appreciating markets pose significant risks for retirees.
Fixed incomes can quickly become stretched in such dynamic environments.
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