Forbes Discovers New York's Middle Class
“Despite Mayor Bloomberg’s celebration of “the luxury city,” there’s still a middle class in New York, although not in the zip codes close to hizzoner’s townhouse. In many cases, they live in Bay Ridge, Bayside, Brighton or Bensonhurst, in the vast sprawl that is Brooklyn and Queens. Some of the emerging middle class also cluster…
“Despite Mayor Bloomberg’s celebration of “the luxury city,” there’s still a middle class in New York, although not in the zip codes close to hizzoner’s townhouse. In many cases, they live in Bay Ridge, Bayside, Brighton or Bensonhurst, in the vast sprawl that is Brooklyn and Queens. Some of the emerging middle class also cluster in places like Ditmas Park, a reviving part of Flatbush. The new population here is made up largely of information age “artisans”–musicians, writers, designers and business consultants who cluster in New York. They may have migrated there for the culture, but they stay because they find these neighborhoods congenial and family-friendly. “It’s easy to name the things that attracted us–the neighbors, the moderate density,” explains Nelson Ryland, a film editor with two children who works part-time at his sprawling turn-of-the-century Flatbush house. “More than anything, it’s the sense of the community. That’s the great thing that keeps people like us here.” — Forbes
I’d like to give some of you posters 35k a year before taxes; that averages out to $2200 a month; let’s see how you’d live on that AND try to save money.
‘Hello Mom, Dad, can I borrow some money again this month.’
Snark,
I DO understand it. Absolutely, 100%.
But you make choices in life. Those things you mention are also extremely rewarding professions. At some point while you’re here, you make a choice to continue doing things like that for no money, or perhaps compromise a little to make a little more money, or compromise a lot and become a Wall Streeter.
I get offered jobs all the time that look like SO MUCH fun…but they pay about half what I make now. I just can’t go back. It’s the choice that I’ve made.
Luckily I’ve had the good fortune of carving out a niche for myself in that I absolutely love my job and also make a salary which I can live comfortably on.
It’s a constant struggle, but that’s what makes NYC so great.
BTW, when I was first washed up onto the shore here I was earning $24K. That was ’96 though.
11217 – your $500 a month for a car is way off, unless you insist on buying a new car. I have a car, live in Brooklyn and declare so to my insurance company unlike some others.., and run it for way way less than that.
Decent used cars in this country are two a penny.
> “I don’t understand. Most of my friends in my age bracket (early 30’s) are making roughly 75K or 100K…”
That’s your problem. You don’t seem to understand that many, many people make far less than that. Like my social worker friend, or my friend who works with homeless LGBT teens, or…. the list goes on.
i was making about 35 K in 2001 and it felt like that was a TON more money than me making more than that now in 2009. grrr. you know life sucks when they get rid of the dollar menu at wendy’s, jack all the items up to 1.89 and call it a value menu 🙁 and shrink the portions! okay i just totally outed myself as PWT. but i think some people already know that.
*r*
11217,
Yes, people at the top of that 35-150k range can afford a decent 2 bedroom in the city.
But if we define that range as the “middle class” than I think the point is only the top 10% or so of the range can realistic expect to buy a place and raise a family in the city.
Whether that is good or bad is another issue. Bloomberg et al. have seemed to like the idea of NYC being too expensive for people skimping by on 90k per year.
11217 –
Checking your math, 450K mortgage, 20% down, 450K/80%= 562.5K
450K mortgage on a 600k place would be 150K or 25% down, which might help you qualify, what with lenders being so stingy and risk-averse these days.
“i hate the people that tell people who make between 25 and 50 k a year that they should move out of the city and make a better life for themselves somewhere else.”
I wouldn’t tell anyone to leave. I’d just suggest it. Big difference.
I made 23k with my first full time job in the city. I paid over 60% of my net income in rent. It sucked.
I wanted to stay in the city and I stayed and made it work, but only because I was able to get my salary up to the point where I only paid 40% of my net income as rent. If I didn’t have any realistic hopes of increasing my salary, I could have done much better for myself elsewhere.