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NYC tried to build homes for the low and middle class in the 80's/90's. Problem is many of those people flipped those homes in the 2000's for a tidy profit. As we enter the 2010's those homes are now upside down and slowly coming back onto the market in their 90's pricing. Which in turn will make homes more affordable again.
A related question: What income bracket (or salaries) would be considered middle class in NYC? When I was there, I made anywhere from $45,000 to $48,000 as an adjunct college professor. It became increasingly challenging to make ends meet, but I did all right.
Bloomberg has created an initiative to build/rehad 165,000 units of affordable housing for working/middle income residents, and he is over halfway to that goal. He is also bringing in retail/amenties to sustain this working/middle class population, most notably in areas that are being repositioned for the working/middle class, such as the Southern Bronx.
He has concentrated on making susbstantial quality of life improvements to be competitive with suburbs, such as bringing mainstream retailers like Target/Best Buy/BJs/Costco etc, more parks, 1 million new tree plantings across the city to beautify and clean the air, brought down crime to record lows, expanded first-time home buyer programs to keep people from moving, and added significant bike lanes/paths/trails. These are just the ones off the top of my head, but there is no doubt he is working towards making sure the working/middle class has its place in NYC.
The middle class has been bailing from NY since the 1940s. In recent times, the biggest driver has been costs/taxes. In the past, it was rampant crime.
NY needs to seriously look into creating a middle class version of section 8 and maybe instead of building low income housing, instead build middle income housing.
However, the school system isn't up to par for most middle class families ether. That's another issue that I hope Bloomberg can deal with.
A related question: What income bracket (or salaries) would be considered middle class in NYC? When I was there, I made anywhere from $45,000 to $48,000 as an adjunct college professor. It became increasingly challenging to make ends meet, but I did all right.
Can anyone answer Nala8's question.
I'm curious as to what income bracket does someone need to be in to be considered "middle class" in New York City. Doe is it matter if you own property? Does it matter where you live? Does the number of people in your household matter?
Who are the middle class in NYC? Where are they? Do you consider yourself middle class?
The middle class has been bailing from NY since the 1940s. In recent times, the biggest driver has been costs/taxes. In the past, it was rampant crime.
NY needs to seriously look into creating a middle class version of section 8 and maybe instead of building low income housing, instead build middle income housing.
However, the school system isn't up to par for most middle class families ether. That's another issue that I hope Bloomberg can deal with.
NY has been building and been encouraging the building of lots of middle class housing for years.Check out the HPD website for available developments. HPD - Homebuyers - Current Housing Lotteries
There are downpayment assistance programs,housing programs for municipal employees,etc.
And believe it or not,there are a lot of middle income people who are on section 8.They just pay a higher percentage of their rent themselves.
Not saying that it is necessarily enough but NY might actually provide more middle class housing assistance than any other city in the country.
The schools will never get much better until the city raises property taxes and is willing to pay the same or close to the same as suburban districts do on a per student /per year basis.Everyone complains about the taxes in NY but in reality,the property taxes(which pay for education) are much lower than anywhere around.And NYC spends 8,500/yr per student on education while districts in Westchester,Nassau,Suffolk and most of NJ and CT spend double and sometimes triple that amount.
I'm curious as to what income bracket does someone need to be in to be considered "middle class" in New York City. Doe is it matter if you own property? Does it matter where you live? Does the number of people in your household matter?
Who are the middle class in NYC? Where are they? Do you consider yourself middle class?
$45,000 - 90,000 for an individual
$75,000 - 135,00 - for a family of 4
But it is estimated that to enjoy the same standard that most people enjoy in rest of the country, that are comfortably middle class, an individual would have to earn at least $123,000 in NYC. This is give or take for which boro a person lives in.
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