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You are right --- even entry level jobs with just a high school diploma pay over $50,000 a year around here. People who are graduating college aren't going to work for less than about $80,000 a year unless they have the luxury of living totally rent free or have their parents pay the rent. With all these people in their 20's and recent college grads buying up most of the condos going up in Manhattan you have to believe that the economy is doing well. Of course if you are African American or in some cases Latino you are already at a disadvantage when applying for most white collar corporate jobs in Manhattan.
Anyone looking for an apartment anywhere in the 5 boros these days knows that you must earn at least 45 times the monthly rent to be accepted as a tenant and it is very hard to find an apartment for less than $1,500 a month unless you don't mind living in south jamaica or southeastern queens near the belt parkway or JFK Airport. It isn't just Manhattan where there is a huge disparity between wealthy & dirt poor, but it is just as apparant in the other 4 boros as well where you have to be earning nearly $100,000 a year to rent a decent apartment in a decent neighborhood.
What are you smoking? Did you pay the taxes on it? Can I have some?
My wife works for a Manhattan law firm that does most of the new construction and refurbished property closings in Manhattan. She does the actual closings, so she can tell you the make up of the purchasers first hand. I had to read your statement to her, and she is still laughing. People in their 20s and 30s are not buying up the condos and co-ops in NYC. Actually, most of the people that have been buying up real estate in Manhattan are the new wealth classes being produced in emerging markets. They want a place in NYC, a place in Europe, and a place in Asia.
I'm sorry to break it to you, but your version of reality is much different than what I see. I graduated from a top flight school in 2006, I just went to a networking event a few months ago and 40% of the graduates from my year were unemployed. I would say another 20% are underemployed. My two closest friends from college just graduated from top law schools and have had their jobs pushed back multiple times. Another friend had his job offer pulled and was given a "Just Walk Away" package.
The only reason that city real estate hasn't collapsed is because of the international interest. The fact that NYC is a "Global City" has really saved them from utter disaster. BTW, the rate of new construction in Manhattan has plummeted in the past 2 years. It's been so bad that my wife's firm has laid off or repositioned atleast 50% of their staff and they are probably not done yet. So, I don't think things are as rosy as you make them out to be.
I drive a jacked up Chevy redneck truck and live in the country, do you think my redneck truck would fit into the Manhattan Lifestyle? Where can I watch NASCAR and shop at Walmart? I like Wrangler jeans that generally cost about 25-30 dollars, but I'm not sure how much Sak's Fifth Avenue sells them for, YesI'm being a smartass. Also where can I get some good southern cookin' in the city. If I wanted some scarmbled eggs and grits, where would one go? My redneck truck coud probably drive over you're BMW. Yes I was born in New York but now live in the south. Yehaw Ya'll!!!
You are right --- even entry level jobs with just a high school diploma pay over $50,000 a year around here. People who are graduating college aren't going to work for less than about $80,000 a year unless they have the luxury of living totally rent free or have their parents pay the rent. With all these people in their 20's and recent college grads buying up most of the condos going up in Manhattan you have to believe that the economy is doing well. Of course if you are African American or in some cases Latino you are already at a disadvantage when applying for most white collar corporate jobs in Manhattan.
Anyone looking for an apartment anywhere in the 5 boros these days knows that you must earn at least 45 times the monthly rent to be accepted as a tenant and it is very hard to find an apartment for less than $1,500 a month unless you don't mind living in south jamaica or southeastern queens near the belt parkway or JFK Airport. It isn't just Manhattan where there is a huge disparity between wealthy & dirt poor, but it is just as apparant in the other 4 boros as well where you have to be earning nearly $100,000 a year to rent a decent apartment in a decent neighborhood.
Bwahaha let me go ahead and be the 1,000th person to inform you that you fail at New York.
Only a high school diploma getting you over $50k? College grads scoffing at anything under $80k? My girlfriend graduated several years ago and is a licensed attorney. Many of her friends right now would kill to have a non-paying internship just in the hopes that it will help their resume and eventually lead to a paying gig.
And nothing but a studio in far flung reaches for under $1,500? Odd, because I pay significantly less than that for my one bedroom in West Harlem, around the corner from the subway.
Ok but where I can park my redneck truck in New York City?
Plenty of street parking by me, and funny you should mention that: Earlier today on my way into work I was passed by a massive pickup truck with after market tires that looked they came off a 747. I'm from the south and I'm used to seeing them all the time, albeit with giant rebel flags affixed to the back. That's the first time I've seen one here and it was a bunch of thug looking guys driving it.
There's a joke there somewhere but I'll let Dave Chappelle handle it.
According to census, average per capita income for NYC is $30,000, median household income is $50,000. Arithmetically speaking, $75,000 should put one in lower upper middle class. I guess all those immigrants are dragging averages way down, even Wall Street paychecks cannot propel averages and medians that much. Apparently, one can easily survive on $30,000 in NYC.
There's no conspiracy theory here, no adjustment bureau. The laws of economics say anyplace where people want to live, where land is limited, will be expensive.
Like Bill Maher says: small towns are small for a reason--no one wants to live there.
it's true that some people on here seem to be very uninformed and throwing around mere observations not based on actual experience or fact. i am a semi-young (29 yrs) single woman living in NYC. i earn a little more than $70K/yr. I live in a brand new luxury doorman building in Manhattan, and am able to walk to work-- I have a great career with an equally great company. Honestly, I feel quite comfortable and content. And yes, I do have a roommate and I prefer it this way. NYC can be lonely, and it is nice to have someone to split the bloated costs of living. It works out for us. She happens to be a corporate banker my age who earns $200K. We are both considered 'minorities.' We are both 1st-generation college graduates, and are from working class backgrounds. We work hard and still have the time and means to go to the theater, the opera, and travel the world. We are able to save and still shop occasionally. Neither of us would choose to live anywhere else, and for me personally, I could never live in Florida (I have tons of family in Palm Beach so I know it well-- lack of opportunities, dull on every measure, oppressively hot/humid.) Many people in NYC make over $100K. Several of our contemporaries/friends not much older than us are making way more than that as lawyers, doctors, etc. And then there are many more people in NYC who live in public housing in the ghettos of each borough who drop out of school, have kids too young, etc. etc. I have a great life, but I have chosen to make it so, and I didnt get much in the way of breaks over the years. It really is all about choices.
You make it seem like if someone doesn't make a great salary it's because they dropped out of school and and had a boatload of kids which isn't always true. There are fields like social work and other careers in the non profit field that barely pay 40K. I know social workers who are childless with master's degrees who make in the 40k range and these are people that live in NYC.
You're right many people in NYC who are affluent but people seem to forget that not all companies are give out high salaries. If I took your post the wrong way I apologize.
To live in NYC, you have to know how to live. I've never lived there, but I do understand that no matter where you live there is a certain lifestyle to living there. If you make $100k and live in Greensboro, NC, you would own damn near a mansion....again no matter how you look at it....the masses will flock to NYC. Unfortunately for those who flock there, they find out that the cost of living is huge. I sure would love to live in the place in Florida where a H.S. diploma earns you $50k/yr. must be nice....****, I'm looking to buy a house there now.....what kind of work is prevalent there?
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