3 ms·
$100k absolutely can cut it in most of the US- even in expensive cities. The median income in New York City is $76k [1]. The article uses a wild definition of
by fxd123 2y ago
$100k absolutely can cut it in most of the US- even in expensive cities. The median income in New York City is $76k [1].
The article uses a wild definition of "American Dream" where 50% of income has to be able to be spent on non-essential things. I really don't think most people will actually spend like that.
[1] https://www.census.gov/quickfacts/fact/table/newyorkcitynewyork/HSG010222 https://www.census.gov/quickfacts/fact/table/newyorkcitynewy...
- anotherhue 2y agoRents are still $3.5k though. I guess everyone has roommates and that doesn't show up in the data. https://www.renthop.com/average-rent-in/new-york-ny https://www.renthop.com/average-rent-in/new-york-ny
- fxd123 2y ago> I guess everyone has roommates Yes, apparently 40% of single people have roommates in NYC Keep in mind that having a "roommate" is common everywhere in the US- 50% of households are romantic partners, with most of those households having 2 incomes. You have to keep that in mind when looking at living expenses everywhere.
- _akhe 2y ago> the median income in New York City is $76k > Keep in mind that having a "roommate" is common everywhere You are not selling this dream very well. Maybe you're just young/inexpereinced, but this sounds like a dystopian nightmare to most people. You want families just rooming together because they cant afford the ever dwindling supply of housing - something civilization has known how to build for thousands of years? Our asset owning class won't allow the building of houses and neighborhoods anymore (and all the land is owned so don't even try, anywhere), so that's the problem - artificial scarcity and inflation. Your room mate idea is an absurd remedy when such an obvious solution exists that would make everyone happier: Let people own their own shelter ffs.
- frumper 2y agoMedian vacant rentals are listed for $3.5k. Half of NYC apartments are rent stabilized. Renting a new place today is very high, but the median rent actually being paid is closer to $1500. page 18 shows rent types https://www.nyc.gov/assets/hpd/downloads/pdfs/services/2021-nychvs-selected-initial-findings.pdf https://www.nyc.gov/assets/hpd/downloads/pdfs/services/2021-...