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The middle class seem to be getting squeezed out of everywhere - wouldn't expect NYC to be any different. The ratio of income between the wealthy and poverty level is clearly defined with the middle secton (middle class that is) becomming smaller and smaller every decade . . . who knows where it will be in another 10 years.
Again, see my post - it depends on living situation and whether or not you have a mortgage, living in a multifamily,
Now the posters comment about public schools is correct but its worth noting that sometimes education depends on the particular student and in certain schools they are more educated student/teaching body.
As for schooling every district is different, so make note of that, its true housing is not geared for the middle class for the most part, but that most applies to new comers or people who have never lived in a house.
A person with no mortgage or a low mortgage may live in a higher quality school district in queens or brooklyn, or perhaps they are living in a rent stabilized apartment , or a coop, or 3 family.
Based on my PERSONAL OBSERVATIONS, the middle class is not really getting price out, dont beleive everything you read in forbes, or gotham although some of what they say is worth reading.
So, like the previous poster said - the apt is about $2000 a month.
That apt is on the UPPER EAST SIDE. Are you kidding me? That poster said nowhere in the city that isnt gang infested for less than $2k/month. Here you have an example of someone living in a 2!!!!!! bedroom in the UES!!!!! for less than that. The UES is probably THE choicest nabe in the city.
That apt is on the UPPER EAST SIDE. Are you kidding me? That poster said nowhere in the city that isnt gang infested for less than $2k/month. Here you have an example of someone living in a 2!!!!!! bedroom in the UES!!!!! for less than that. The UES is probably THE choicest nabe in the city.
87th and Third Avenue isn't the best part of the UES. BY FAR. Not the worst, but hardly 'the choicest.'
87th and Third Avenue isn't the best part of the UES. BY FAR. Not the worst, but hardly 'the choicest.'
But, 87th and 3rd is indisputably inside the neighborhood. I identified the neighborhood as being among the "choicest" in nyc while making no claim about desirability of the exact location relative to the rest of the neighborhood.
I find that the majority of middle class without children are fine in Manhattan and the other four boroughs. The majority of middle class with children have to settle for the other four boroughs, Jersey or Long Island.
The areas that people want to live in are definitely not catering to the "middle class". Especially if you are looking to, I don't know, SAVE MONEY FOR RETIREMENT.
There are select areas that can be found, but look at it this way, 12-14 years ago when I was looking for a studio/1BR somewhere in the city for less than $1000 I was laughed at by the realtors. They would not even bother showing me any places (low commish).
I was working as an entry level engineer from the suburbs in Bergen County NJ (not too shabby) driving my own paid-up car and 100% without debt, but everything was out of my reach that was worth moving away from my parents. I eventually settled in Hoboken for a 3 room "railroad" about 650 SF, for $800/mo. Good luck finding anythnig as close, or with any of the same amenities for a comparable price at the time.
Impossible? No, but you WOULD be looking!
As for here and now? Trynig to find a place that IS affordable, for a couple with a kid where the individuals are NOT earning 6figs is very hard. If you want to settle for a 1000sf or less (trust me, with a kid that is VERY hard) you could probably find something that is within (reasonable) commuting distance of the city. But there just has not been any push to get larger spaces available for middle income.
If you were a developer, would you build a "Condominium" building, or a "Luxury condominium tower"? Guess what they have been building? What have they been rennovating? Name one development that has gone up that is not low income or luxury within 45 minutes of Midtown.
The only thing that was keeping a lot of MC families in the area was:
1. Jobs
2. The OUTRAGEOUS bubble in the 'burbs.
With jobs starting to peter out, and houses getting cheaper faster in places like NJ, you may see a continued flow of MC out of Manhattan. Not an Exodus, by any means, but NYC (especially Manhattan) just does not cater to the "Have some"s.
Granted, some of those people want much more than they could ever reasonably afford (family of 5, 2 cars in Brooklyn heights? Reply when you stop laughing), but still. You would think ther would be more of a blend rather than Upper Middle Class strait to Low Income/Welfare.
There are two forces at work: the push and the pull. It's often difficult to assess which is the more powerful. It's not that middle class can't afford anything in New York, it's that they can get so much more elsewhere.
Some people who say they were priced out of New York, really just preferred a huge house with a pool in Texas to a 2 bedroom walkup in Queens. It's a legitimate choice and I don't disparage anyone for making it.
Unless you're a billionaire, everyone has to make do will less than they could have elsewhere. It's just the nature of the city.
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