NEW YORK, Feb. 6, 2009
Facing Crunch, NYC's Middle Class Flees
Exorbitant Living Costs Have Put Life In The Big Apple Out Of Reach For Many
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Is the sun setting on New York's middle class population? (AP)
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Interactive Eye On The Economy In-depth features on U.S. markets, taxes, employment and the Federal Reserve.
Sky-high rents, long commutes and other exorbitant living costs are just some of the reasons the nation's most expensive city has been steadily losing its middle class in recent years, according to a study released by the Center for an Urban Future.
New York City suffered a net loss of over 150,000 middle income residents in 2006 - a greater flight than 1993, when the city was in much worse shape economically - according to the study.
With New York more than twice as expensive as the national average, many former residents have opted for cheaper alternatives in Philadelphia, Charlotte and the Atlanta suburbs.
Looking at the numbers, it's not hard to understand why:
The city is also feeling the unemployment crunch that has escalated around the nation. In December, New York City's jobless rate hit 7.4 percent, up from 6.3 percent in November. In December 2007, that number was 5.1 percent.
On Friday, the Labor Department reported the national unemployment rate soared to 7.6 percent after January saw the worst monthly job losses in 35 years.
Among other issues squeezing New York's middle class residents are high child care costs (day care can run up to $25,000 a year), poor schools, high food costs and lengthy commutes.
The report calls for, among other things, a preservation of affordable housing, improved infrastructure and a focus on the outer boroughs, not just Manhattan.
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- NYC is the greatest city in the world but simply unaffordable. Offered a job there at Columbia Presbyterian for the same salary I earn in Texas. I would have been broke in spite of a 6 figure income. Quality of life requires a little extra money after paying rent/mortgage costs. I couldn['t even consider owning in NYC but own a 4k sf home in Texas with every upgrade AND have plenty of money left over to travel. All you New Yorkers, take a look at Texas! We'd love to have you...
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- Obama can send only so much money to New York, at some point, they will have to pay the piper.
Posted by hdc77494 at 12:28 AM : Feb 07, 2009
Obama has been on the job 2 weeks and already NYC and its finaces are already his responsibility ..who knew - Reply to this comment
- If you can afford it, Chicago or San Francisco are great towns. In San Francisco, there are so many gay men, it makes it alot easier for single, hetero males to pick up on females that aren''''t getting any male company. In the Midwest, all the single women are fat, obese slobs and all the hotties are already taken or married.
Posted by militades at 04:18 AM : Feb 08, 2009
wow jsut a weird comment on women and heterosexuality in general . One assumes you consider yourself an elgible hetero male. Someone looking in would get most of it all but the "why they would interact with you." pretty bizarre - Reply to this comment
- New York City is a disgrace and Mayor Bloomberg is a coconspirator of Madoff. New York City sucks the blood from the working people of New York State.
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- NYC is still the most peaceful big city in the world. Other than that, there is not much to offer. I find it weird that New Yorkers vote Democrat, but so many of them are super rich criminals like Bernard Madoff and company. Other places that suck are Atlanta, Miami(everyone speaks Espanol now), Detroit, and Los Angeles.
If you can afford it, Chicago or San Francisco are great towns. In San Francisco, there are so many gay men, it makes it alot easier for single, hetero males to pick up on females that aren''t getting any male company. In the Midwest, all the single women are fat, obese slobs and all the hotties are already taken or married. - Reply to this comment
- NYC is still the most peaceful big city in the world. Other than that, there is not much to offer. I find it weird that New Yorkers vote Democrat, but so many of them are super rich criminals like Bernard Madoff and company. Other places that suck are Atlanta, Miami(everyone speaks Espanol now), Detroit, and Los Angeles.
If you can afford it, Chicago or San Francisco are great towns. In San Francisco, there are so many gay men, it makes it alot easier for single, hetero males find larger selection of various single females. In the Midwest, all the single women are fat, obese slobs. - Reply to this comment
- I have a message for CloverNYC, "Hey Buddy, you can keep your rude, expensive, arrogant, politically correct NYC and give me the sticks any day. At least in the sticks I''m no more than 30 or 40 minutes drive from the peaceful countryside and it doesn''t takeme two hours to get to work crammed like a sardine with the likes of you for company"
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- I saw in two articles this morning, that the city of New York has 320,000 employees while the entire state of California only has 230,000. I guess union workers can''t work as hard in New Your, so it takes 120,000 more of them to do the same work. There is no way a city needs more employees than the state of California. Especially when California has entirely too many people with too generous benefits anyway. All those employees have better benefits and a better retirement than 95% of the people paying their salaries too. Obama can send only so much money to New York, at some point, they will have to pay the piper.
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- well, it''s about time people left that dump.
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- Trickle down economics at its finest.
The system did eat itself. - Reply to this comment
- Sounds like the opposite of the Kurt Russell movie ''Escape From New York''. Instead of an island of convicts, we now have an island of wealthy millionaires.
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- Well ol'' EDINTEX - I see, about like the rest of the Moran Sheep, must be about 17 to 25 yrs.old and totally Clueless not to mention a few other things, typical for a Republi-Goon, Blame it on everybody else But Themselves, they got caught with their hand in the Cookie Jar red handed and while still standing there caught, are Blaming it on Johnnie Come lately, That Republi-Goon Party will never-ever assume or Take Responsibility for their Actions or ever Admit any Faults they have, this is Exactly the kind of Absurd Mentality, that they posess and Display, it must never ever be our Fault and we must never ever take Responsibility for anything we''ve done ever ! Their Always, Always Innocent and have never ever done anything wrong ever. Thats a true Sign that, that Republican Party is in Serious- Serious Trouble when you have that kind of Thinking and Mentality and their Absolute Refusal to own up to anything they''ve done !
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- Or would it be the falling economy Bush inherited from Clinton? How about WWII or Vietnam which began with a democrap and was inherited by a republican.
You liberal democrats have a twisted view of history. Get some mental help.
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Posted by edintex at 07:23 PM
LOL..
Oh-kay cowboy.. You tell em..
I guess you never heard of a budget surplus?
The people who need mental help are the dumb people who can only think in black and white, like their radio tells them to. So everything bad thats ever happened is a democrats fault. And everything good is a republicans doing. You think the world is that simple? I feel sorry for you..
And Bush just got out of office. Look at the mess were in.. By your logic, you should pin the blame on whoever has been in office.
Do you?
Of course not. You dont think. You repeat things that youve been programmed to think.
Hows it feel bein'' a robot??
Not too good I bet.But you wouldnt know, because no one has told you to consider it yet.
No one on your radio at least. - Reply to this comment
- Los Angeles is hideous. NY is a dump. Boston is better and Seattle is tops...say certain people. I''ll stick to nYC...for gruesome USA at its best and most real, this is da place.
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- I agree that NYC is by far the most interesting city in the States. And I am a part time resident. But it is not as pleasant as London, Paris, Berlin, Tokyo and other so-called Alpha cities. It is also over-rated on so many levels. It ain''t pretty like Seattle or Vancouver, but it is NYC.
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- Only little people flee New York.
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- Seems the Dems always are stuck fixing the economy after the fact. Just look at the History.
Posted by bigloudbike at 06:22 PM : Feb 06, 2009
Do you mean like the wonderful economy Reagan inherited from Carter? Or would it be the falling economy Bush inherited from Clinton? How about WWII or Vietnam which began with a democrap and was inherited by a republican.
You liberal democrats have a twisted view of history. Get some mental help. - Reply to this comment
- sounds like wall streets greed runs crazy around New York City,,,,,,Must be something in the water they drink.
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- The Middle Class is what made NYC great. It is sad that the heart and soul of the city has had to leave. I guess it is now an island of multi- millionaires and dirt poor people who serve them.
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- ''There really is life between New York and California.''
Posted by jd2408 at 05:28 PM
Yes. It''s called Tulsa. - Reply to this comment
