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NYC Rents Rising Twice As Fast As Wages, Except for Wealthiest, Study Finds - East Harlem - New York

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Manhattan skyline view from the roof deck of a Park Slope building ." /> Manhattan skyline view from the roof deck of a Park Slope building . View Full Caption Corcoran Group MANHATTAN— Yes, New York City is way less affordable now than seven years ago. Case in point: An apartment going for $2,000 a month for rent in 2010 would now get $2,657 a month, a report published Wednesday from real estate search engine StreetEasy reveals. Compounding the city’s affordability crisis: rents in the city rose twice as fast as wages, according to the analysis, which compared the StreetEasy Rent Index with wage data from the city’s Department of Labor. While median rents increased 3 .9 percent a year since 2010, wages increased by 1.8 percent over the same period. Those working in the city’s lowest wage jobs were hit hardest. Low- wage earners — those in the bottom 20 percent of the workforce, which represent a little more than 800,000 of the roughly 4.1 million employed New Yorkers ...

Sigh, NYC Apartment Rents Are Rising Twice as Fast as Wages

Anyone who’s even daydreamed of moving to New York City knows it’s far from a haven of affordable housing. If you’ve always felt like the ideal apartment is just out of your price range, you’re not alone. A new affordability report from StreetEasy shows that New York rents have increased at twice the rate of wages so far this decade, and all but the highest earners are feeling the squeeze. The StreetEasy study compared the real-estate site’s rent index to NYC Department of Labor wage data from 2010 to 2017 and found that citywide rents increased by an annual average of 3.9 percent , while wages rose just 1.8 percent year over year. The disparity is even more drastic for the bottom fifth of New York’s wage earners: Their pay has remained essentially stagnant while even the most cramped, out-of-the-way walkups have become nearly 5 percent more expensive each year. For entry-level professionals and those stuck in low-paying jobs, the struggle is very real. "New York City resid...

Angry Mom: Oh, Honey — If Anybody’s ‘Out of Touch’, It’s You

I wasn’t going to waste my time on the over-privileged, excessively- pampered trophy wife Treasury Secretary Steve Mnuchin stupidly took with him on a recent taxpayer- funded business trip . Linton was on a government-funded jet, and cited her husband's service as part of her punch-down of a critic https://t.co/DfJ1GOMvlf — Maggie Haberman (@maggieNYT) August 22, 2017 But after thinking about her rude, snotty, and insanely ill-informed reply to someone who took issue with her gross display of wealth, I think I should expend a few words. Mrs. Mnuchin believes she and her spouse contribute more to the country than whomever it was who critiqued her behavior. No. They and their kind are leeches. Bloodsuckers. Literally part of the great vampire squid empire Matt Taibbi described. They do not add value to this country. They chew at its foundations in great, monster-sized bites. And they believe they are entitled to do so. But they’re wealthy! Look at all the money they have , one mig...