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Old 04-27-2007, 05:45 PM
 
359 posts, read 2,587,100 times
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Does anyone see in the future a resurgence of the Middle Class in NYC. Its become so rediculously economically seperate in NYC that in about 3 or 4 years. It probably wont be the greatest city in the country anymore. All the middle class are in the suburbs now. Can we ever expect to see a solid population of the working man in NYC anymore. Now you either live in expensive high rises or public housing. Theres got to be a comeback sometime.

Any thoughts?
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Old 04-27-2007, 10:24 PM
 
Location: Warwick, NY
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Yes.

After the liquidity bubble bursts taking the real estate bubble with it, the suburbs will become more and more expensive and as the cost of energy rises, commuting will become less attractive while city living will become more affordable.

This presupposes that you will want to live in the city. The economic downturn that will follow the burst will be extremely severe and New York may not be attractive in what it can offer in jobs.
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Old 04-28-2007, 05:30 AM
 
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I know some people who have taken advantage of homeownership programs from the city - I think there needs to be more of these incentives to get the middle class back. But the New York City suburbs are so expensive now that it takes a really long commute to get a much lower cost of living. I guess a lot of middle class people are leaving the area all together. Better schools would help a lot too. Catholic schools are an option in the city, but when you're stretched financially, years and years of tuition really takes a toll.
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Old 04-28-2007, 12:07 PM
 
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If NYC were a person, it'd be way too pompous to lower its prices for the middle class. I think that NYC's reputation precedes it in an almost monstrous way, and that has something to do with the housing costs being shamelessly high everywhere. If costs go down, it'll probably be a slight change, and then people will swarm in and costs will just go back up.

Nope. I think the middle class is done for around these parts.
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Old 04-28-2007, 06:34 PM
 
Location: New York
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They are shipping in thousands of Illegal immigrants by the day to replace the middle class native born Americans. The Illegals work hard and longer for less pay. More money gets to stay in the pockets of the business owners and corporate management when illegals are on the payroll. When the process of importing the new cheap labor workforce is complete the middle class and their pesky labor unions/high salaries will be a thing of the past.
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Old 04-28-2007, 06:59 PM
 
1,248 posts, read 4,045,902 times
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Quote:
Originally Posted by yodel View Post
I know some people who have taken advantage of homeownership programs from the city - I think there needs to be more of these incentives to get the middle class back. But the New York City suburbs are so expensive now that it takes a really long commute to get a much lower cost of living. I guess a lot of middle class people are leaving the area all together. Better schools would help a lot too. Catholic schools are an option in the city, but when you're stretched financially, years and years of tuition really takes a toll.
Those homeownership programs are a joke and don't forget about the autocratic co-op & condo boards which are dominated by limousine liberal yuppies from Manhattan in neighborhoods like Forest Hills & Jackson Heights whose blessing you must receive in order to purchase an apartment.

Maybe they give you a paltry $10,000 for down payment and some closing cost assistance but someone making less than $100,000 or $150,000 a year couldn't qualify for a mortgage at todays prices. And the income limits are joke. In Queens county the maximum you can earn for a SONYMA mortgage is around $60,000 a year. Maybe if you make $60,000 a year you can qualify for a $150,000 studio co-op apartment somewhere in Queens, but you must disclose your entire financial background to the autocratic co-op boards.

But taxes should be cut first. The local income tax should be entirely eliminated for single people earning less than $150,000 a year in NYC and state taxes should be drastically cut as well. Not to mention all the fines & fees that you are subject to living in NYC.
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Old 04-28-2007, 07:02 PM
 
1,248 posts, read 4,045,902 times
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Quote:
Originally Posted by Jason_Els View Post
Yes.

After the liquidity bubble bursts taking the real estate bubble with it, the suburbs will become more and more expensive and as the cost of energy rises, commuting will become less attractive while city living will become more affordable.

This presupposes that you will want to live in the city. The economic downturn that will follow the burst will be extremely severe and New York may not be attractive in what it can offer in jobs.
When and where will this happen?? Certainly not in the NYC region where home sales (across the region) and consumer spending are both increasing at around 10% over last year according to the latest Federal Reserve FOMC report.

I have come to the conclusion that either the majority of people in NYC (and the suburbs) are all making $200,000 a year or more each or everyone is in severe credit card debt. How else does someone afford to spend $30,000 - $50,000 a year on rent and $5,000 a month on clothes & entertainment??
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Old 04-28-2007, 07:18 PM
 
Location: New York
1,999 posts, read 4,975,733 times
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Originally Posted by NickL28 View Post

But taxes should be cut first. The local income tax should be entirely eliminated for single people earning less than $150,000 a year in NYC and state taxes should be drastically cut as well. Not to mention all the fines & fees that you are subject to living in NYC.
This is New York were corruption is supreme. The towns where I live in are raising property taxes from 7.6-9.9% this year. Lets see a new firehouse, a new police station, new clock tower, new Illegal Immigrant hiring center, new illegal immigrants health care center and the moron taxpayers approve it all. The officials know no end to the corruption and irresponsible spending because the brain dead masses just keep paying taxes and keeping their mouthes shut.

Taxes being lowered in NY is NEVER going to happen. The government is loaded with corruption and irresponsible spending. Every civil project is an opportunity to kickback money to friends and squeeze just a little more out of the taxpayers.

The State and towns are all in tremendous debt and pay huge interest payments to the banking industry friends of the officials. The situation is dire and the nobody's home to realize what is happening. Taxes can never be cut because the amount need to service the debt and the amount needed to subsidize the cheap labor Immigrant labor/welfare class will always grow. We live in a irresponsible spend and spend culture enhanced with deep tradition of NY corruption.
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Old 04-28-2007, 07:20 PM
 
Location: PALM BEACH, FL.
607 posts, read 3,548,628 times
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There are still many, many people living in New York City (Manhattan) and the outer boroughs who are living below the poverty level. A good percentage of these people are second and third generation Americans.

There are subsidised housing projects in all of the boroughs and many families bought homes when the prices were reasonable (pre-1984). I alien situation has skewed the balance and valuable, talented working people have been left out in the cold.

I do agree that many families, who were used to making a certain income have had credit card dept sneak up on them not realizing that their jobs had been sloppily filled by illegals.

There's only one answer. Arrest ALL of the ILLEGAL aliens and put them in prison or deport them. Send them back on an oil tanker not a plane.
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Old 04-28-2007, 07:36 PM
 
Location: New York
1,999 posts, read 4,975,733 times
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Quote:
Originally Posted by dennis s View Post

There's only one answer. Arrest ALL of the ILLEGAL aliens and put them in prison or deport them. Send them back on an oil tanker not a plane.
The Illegals are only part of the issue. It is the people that hire them at cut rates that are just as guilty. Those business owners/Yuppies that hire these Illegal Immigrants to work in their businesses and homes should be arrested. The rich are increasing their wealth with Illegal Immigration. Hiring people at less than half the rate of legal workers and paying no taxes/health care. A American contractor had to hire an American 10 years ago at $25 an hour and pay taxes/healthcare. Now they can hire an Illegal at $10hr with no tax/healthcare costs. The idiot taxpayer/middle class momo picks up the tab while the Upper class increases their edge.

It is not just gardeners and small contractors replacing American workers with Illegal ones. You have major corporations like Wal-Mart, Tyson Chicken and major meat packing plants that lure Illegals to this country by the thousands to replace American workers.

The kicker is that the sons and daughters of these Immigrants are not going to be content with being a underclass slave, working for cutrate wages. These people are going to revolt and adapt the degeneracy of the current welfare class. You could be looking at a Welfare class of 80 million here in America in the next 30 years and a major crime wave that will branch out from the inner cities to the now lilly white suburbs. Consider how we are still paying the price for slavery 300 years later, many of these decendants still maintain the backwards culture of there slave descendants and refuse to join the mainstream. The next generation always pays the price for cheap labor down the road.

It is time to arrest Illegal Immigrant employers now and send them to prison. The cycle must be stopped now. Stop taking shortcuts America!! Pay a fair wage for your labor!!
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