For subscribers

NYC’s rent surge drives 86-year-old to move in with a ‘boommate’

Sign up now: Get ST's newsletters delivered to your inbox

Apartment buildings stand in New York, U.S., on Thursday, March 19, 2008. Manhattan apartment sales declined 23 percent last year as the Dow Jones Industrial Average fell the most since the Great Depression. Now co-operative and condominium prices are dropping as Wall Street firms cut the bonuses that contributed to the property market boom of the past decade. Photographer:  JB Reed/Bloomberg News

An uptick in so-called “boommates” – room-mates of the baby boomer generation – is the latest manifestation of a housing affordability crisis that has slammed Americans of all ages, especially those in expensive cities like New York.

PHOTO: BLOOMBERG

Follow topic:

When Mr Dan Yafet’s son moved out of their apartment in Brooklyn’s Fort Greene neighbourhood, he found himself with too much space and not enough money – so he took on an octogenarian roommate. 

Now Mr Yafet, a 68-year-old who works for an architect’s office, shares his fourth-floor walk-up with 86-year-old Alan Ferber, splitting the US$2,000 (S$2,600) monthly rent for the two-bed­room apartment. 

See more on