New York City Beats London As Most Expensive For Employees To Live (Wilton: apartment, rentals)

[BugsyPal]

New York City has dethroned London has the most expensive place for an employee to live and rent an apartment for one year.


New York dethrones London as world's most expensive city for workers - Curbed NY

[antinimby]

This is a title you don't want to win.

[Forest_Hills_Daddy]

Midtown Manhattan has the second highest average salaries in the world outside of Switzerland, so there's a price to pay for this understandably.

[l1995]

Originally Posted by Forest_Hills_Daddy

Midtown Manhattan has the second highest average salaries in the world outside of Switzerland, so there's a price to pay for this understandably.

Yeah, but most people in NYC don't have those kind of jobs

[NyWriterdude]

Originally Posted by l1995

Yeah, but most people in NYC don't have those kind of jobs

Most don't live in Midtown Manhattan. Poorer people get pushed further out.

[l1995]

Originally Posted by NyWriterdude

Most don't live in Midtown Manhattan. Poorer people get pushed further out.

Yeah but my point as you have to factor in living costs for the whole city

[fluttereagle]

The progressive approach to this problem advocated by de Blasio has been to perpetuate rent stabilization and to subsidize rentals through the 80/20 program. This approach has been a complete failure.

The solution is to get the government out of the housing market completely and allow developers to build. Public policy has restricted supply through excessive red tape, landmarking, overly strict zoning, lengthy approval processes, community boards trying to stop everything, rent stabilization locking up huge swaths of the market, etc.

If the government wants to help, they should focus on improving and extending transportation, so people can live further out and get to their job in the city quickly. That would increase the supply of housing to people who work here by expanding the commute radius.

[BPt111]

Originally Posted by NyWriterdude

Most don't live in Midtown Manhattan. Poorer people get pushed further out.

They live in suburbs such as Greenwich, Westport, Darien, New Cannan, Wilton in CT, Northern NJ suburbs, Westchester County, Putnam County, Nassau County, Rockland County anywhere Metro North, NJ transit go but suburban areas.

[WhyRUMad]

Who the hell would want to live in Midtown? That's the worst part of the city.

[bklynkenny]

Originally Posted by WhyRUMad

Who the hell would want to live in Midtown? That's the worst part of the city.

If I worked in Midtown, I would. Not much can beat a 15 minute commute.