It's the 1% that can afford to move in. That's what's skewing the article. In Manhattan, there are very few buyers who make less than $400k/year as a couple.

It's the 1% that can afford to move in. That's what's skewing the article. In Manhattan, there are very few buyers who make less than $400k/year as a couple. That's about the cutoff for the 1%. This doom and gloom in the article is neither new, nor entirely accurate. The popular consensus (I wish I had the link handy!) in NYC is financial services employment rises and falls 1 to 1 with artistic employment. The causality is probably reversed though. The growth of one helps the other. Gentrification is nothing new.