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Survey: How NY area residents feel about the wealthy, high cost of living
An overwhelming majority of New York residents feel even more stagnant in a metropolitan area that has a cost of living issue, said a new survey released Monday. Eighty-six percent — of the over 1,500 surveyed across New York City and nearby suburbs in New York, Connecticut and New Jersey — say the high cost of living is a “serious problem.” The survey, which was conducted over several weeks in July by nonprofit Public Agenda and public radio station, WNYC, also revealed “complex attitudes”...
There aren't enough rich people in New York for crazy expensive apartments
New York just can’t seem to slow down the growth of overpriced real estate. In the next few years, some egregiously expensive luxury apartments will make their appearance in the Manhattan market. These include the 220 Central Park South and Nordstrom Tower apartments. But now, the question is: Are there enough rich people to fill this many apartments? The Real Deal explains what many are thinking: "[T]here appears to be too much supply in the uber-luxury segment compared to lower price ranges."