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Old 03-28-2007, 01:58 PM
NajdorfDefense NajdorfDefense is offline
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Join Date: Feb 2003
Location: Manhattan
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Default Re: The Haves, Have Nots, & Have Lots - Reformulation of the Middle Cl

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In Manhattan, 2 people can not live easily on $150k, much less an entire family.


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this is of course very subjective (and I happen to personally disagree), although I do think that most people have a hard time believing that their neighbors live on far less than they do. according to this wikipedia article, median household income for manhattan in 2000 was $47,030.

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I don't know if county = isle of manhattan.

'The median sale price for Manhattan condos by the end of 2006 was $1.03 million. The median for a co-op at the end of last year was $650,000.'

Regardlerss, with rent control, and including unemployed people in your numbers, that distorts the market or proper measurement thereof. People who make $44k a year cannot afford $800k 2-br apts.

Using the 'house no more than 3x your income' you'd have to make at least $220k to afford your rent if you moved to Manhattan and bought a place.

Of course, I know there are plenty of places in seriously bad neighborhoods in Manhattan that are cheaper than the median.
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