NYC has been in that category for a long time. The 60% of income on rented housing for people whose income would make them otherwise solidly middle class (to m

NYC has been in that category for a long time. The 60% of income on rented housing for people whose income would make them otherwise solidly middle class (to me, this definition includes ownership of real estate) is new. Something else that's new: the prevalence of managing NYC properties through family trusts from a great distance while its members are domiciled and functionally unemployed in tax-shelter states. Hmm, I wonder if there's any explanatory power to that correlation?