How New York Become a “Millionaire-Only” City
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It seems like no one can afford to live anywhere these days. Your grave might be the only place your body will stay for free as an adult.
Yeah, graves are not free. Your family needs to pay for that
@@digitalm1 Yeah, I sadly realized after leaving the comment that your family needs to pay for that, but I hope you understand the sentiment.
Well just saw another video which said Buffalo NY is cheap. There’s always cheap places just most people don’t want to live there
Most of Asia cant afford graves, they cremate.
Did you know they rotate grave plots every 100 years
In future the rich will have to do their own cooking, cleaning and garbage. Very character building and a positive development...
You can just microwave hotpockets and other frozen foods.
@@herp_derpingson Cancer from radiation...
Poor people coming from another city will do this
Look at Doha, Qatar. They just bring in immigrants to do the work they'd rather not. Looks like NYC is attempting to do the same.
No a.i robots
Laughs in Hong Kong
😂😂😭
Hong Kong housing prices got a bit down but are still insanely priced, but as least we have public housing unlike America, also other expenses are probably cheaper than in New York
@@Ash-vt7uuThere is a shitton of public housing in nyc
@@Ash-vt7uu coffin housing🤣☹️
One other major factor that is affecting the whole of the US, Canada, & even Europe is the change in housing size demand. The demand for 4-5 Bedroom units from the Millennial/Gen Z pop is much lower while 1-2 Beds have a substantially higher demand. We dont just need to build more, but reshape the existing. Families have less people than before and many housing units were built decades ago for larger families
your channel is the definition of Quality over Quantity , keep up the good work !
The Middle Class didn't disappear......It was pushed out
Exactly
My one-bedroom apartment in southwest Missouri costs less now than I paid to sleep on a guy's living room floor in Manhattan in 1986. No lie. $400 in 2024 vs. $500 in 1986. (The average cost for a one-bedroom apartment in my town is about $850. I've got a great deal in a very old building.)
I lived for free in Hawaii ... in a cabin on three acres with fruit and flowers growing all around me because the property owner lived in California - so I was just there to bring some civility to the jungle.
@@WhirledPublishing That's better than sleeping on some strange dude's living room floor in Manhattan ; )
You are living for less in southwest Missouri than you did living here in New York City - but but but you are also living in a much more boring place than here in exciting New York with our world-class museums and concerts and opera and ballet and culture and street fairs and parades and events. NOT worth it to trade the excitement of New York City in for boring Missouri.
Most people are tantalized by satanic insanity - others are not.
@@cathynewyork7918 I tried NY for four years -- 1986-1990. That was enough. I grew up. Then Europe for 10 years, Mexico for a year, then SW Asia for 17 years before heading back to Missouri to take care of my elders.
This fucking disgusts me. It's now known as some "rich playground" despite it having a HUGE history of WORKING/LOW CLASS immigrants and populous, but then things happened and here we are. Our most culturally diverse and amazing and convenient city ruined by (from what I've heard) rich people doing fishy shit, landlords getting greedy, bad city management from the council itself, and everybody deciding to flea back into the city from their suburbs because it's now "trendy." Ruining the culture slowly, day by day.
At least there is less crime in those rich areas
@@AbimaelLopez-hz3qq New york is not a dangerous city. I live in chicago u cannot convince me even the most dangerous neighborhoods in new york are actually all that dangerous
I can vouch for exactly what you've said.
Can't you express your thoughts in a classy way without using the vulgar "f" word?????
@@hexapodc.1973 You are right - New York's crime rate is not really bad compared to other large cities.
Lived in Brooklyn in the 90s. If I were to do it all over again, I would choose Chicago at this point.
I chose chicago now lmfaooo im broke and 19 there is no shot I will ever be able to afford new york in my lifetime
I live in an expensive neighborhood in Manhattan and this is definitely true. The rents don’t stop going up. My goal is to buy a co-op with my partner in about 3-5 years. I’d rather pay co-op fees than rent increases.
Incentive to only build luxury housing instead of affordable housing.
Affordable housing is not viable in the face of high real estate and building costs.
Developers earn more money by building luxury buildings than building affordable housing.
This is the best video I have come across about NY demographics. New subscriber!
The cost of living totally doesn't have anything to do with the politicians and political leaders in the city.
Yes, it does. Private equity is the evil doing of Republicans in this country. Ronald Reagan got the ball rolling through massive deregulation and union-busting everywhere. Private equity firms are destroying the middle class and will send this country into the next Great Depression. If Trump is elected, this will become a reality. Vote out every Republican at the state and federal levels if you are eligible to do so. Republican billionaires are controlling everything in this country.
@@dawnpeterson5172 Finally someone who doesn't say "ItS AlL tHe DeMoC-RaTs"
Who knew that not building housing to meet demand where people want to live woumd cause prices to rise. Specifically state constructed affordable housing to keep housing prices in check in meaningful quantities is the big problem due to not being built in sufficient numbers to meet demand.
But 5:10 shows that NewYork population increase is less than the increase in number of houses.
What demand? Population in new york is decreasing every year
the first minute of the video refutes what your saying
It’s not only New York City it’s Los Angeles, San Francisco, San Diego, Miami, and most of Florida in that matter the state of Maine Boston practically the entire country. And it’s not just the US that has this problem when I look at all these cities and countries that have an all-time inflation with a terrible homeless situation With people sleeping on the streets, trash everywhere, piss and shit on the sidewalk and alleyways with crumbled infrastructure and disgusting living conditions and no affordable living anywhere. When you connect the dots it’s very clear that it’s not a left right issue a geographic issue or any form of government or so it’s a population issue. There are too many people on the planet and the world running out of resources. so another words we are overpopulated and there are not enough homes for everyone because if they are building more and more houses apartments, businesses and roads changing the climate and we still have a home shortage then it’s overpopulated and there aren’t enough homes for everyone and keep hearing and seeing the same topics over and over and over
Global birth rates peaked in the 1960s. The world's population is declining. And there are many affordable places to live in America. Do some research on how many vacant homes there are.
Which is why New York no longer has character
Great video!
Sounds like NYC is becoming something like Doha in Qatar. Where you have a lot of wealth concentrated in the major parts of the city. While immigrants make up the working class that handle the labor jobs.
A city must accommodate all
No. Living in the city is a privilege, not a right.
@@shauncameron8390 Careful! Your comment is VERY common sense, and common sense is RARE on TH-cam! I agree with your comment.
@@shauncameron8390 So accommodate everybody who honors said privilege with it's corresponding responsibilities
I’ve actually seen this firsthand from PA. It seems like mad New Yorkers r leaving for here and Jersey anymore
If you can't afford New York, India welcomes you! We speak English here.
We are still overcrowded country 😂
For women to be abused in India? A beautiful woman you are already on top of taking photos and filming
Viva BRICS
How much people do u want here. Isn't it overpopulated.
I left NY in 2004. I was born there. I loved Long Island where I grew up. And could & did rent a cheap (crappie but decent) apartment in Manhattan. It was on the lower east side in around 1980 - not a good neighborhood, but cool & affordable. Ended up in Westchester with family life - middle to upper middle class. When I sold our house in 2004, I couldn't have afforded to buy it! I don't know how all the rich people are going to find anyone to do any of the work for them now. Police, firefighters, sanitation workers, maids, cooks, nannies etc simply can't afford it anymore. It began with gentrifying every neighborhood to the point that it forced out so many. I barely recognize the gritty but beautiful and exciting city I lived in & around for 40 years. It's sad really.
What's wrong with LES? i'm living in NYC this summer and i got a place in LES, i pay 1950 a month for the bigger room in the unit... a lot more than the 1000 rent i pay back in the city i'm from
@@LeakCentral nothing is wrong with it. In 1980 -81, it was completely different.
I went to NYC in 2022 and it was a great but i was curious on rent prices and man my pockets hurt looking at those average places for absurb amounts of money. Im from the midwest and I think I will stay put 😂
this is now becoming the city of broke And no longer dreams 🥺
Because the "middle class" has been eliminated. There are only the "haves," and "have nots" who are left.
greed from a few
The goal of capitalism is to concentrate as much wealth as possible for as few people as possible, so I'd expect that especially Americans would see this situation as something positive rather than negative?
Well said, don't really understand why folks never see this.
Wealthy disparity with this economic model is almost inevitable. I wish someday it changes
Guess philadelphia, Detroit, Cleveland, Buffalo, Pittsburgh, Rochester etc are what's affordable
Funny how the worst, most boring places are always the cheapest.
I’ve been obsessively researching US cities for months and Pittsburgh is actually pretty cool
@@MrHorse-by3mp supply and demand
@@MrHorse-by3mpRochester is actually pretty cool for a mid sized city
@@MrHorse-by3mp because no one wants to live in those places. My beloved New York City is expensive because we all want to live here!!
I LOVE the American TURBOCAPITALISM!
It's like fkng everyone lost their minds.
Random thoughts: 1) the taxes are insane. You need to make 120K to survive but that is taxed like you're a rich person. I got a raise from 120K to 130K and it was like $200 more a month after taxes. Adding SS + medicaid + NY short term disability tax + NYS + NYC tax, it is almost 50 tax rate. 2) Diversity? Not really anymore. Everyone being from Central America and speaking Spanish is not only not diversity, but making me feel like an outsider.
Also lots of Chinese here in NYC.
real estate companies pricing a closet in midtown for $5 billion
(i was priced out of the city into Long Island since my Appalachian wallet can afford to live there)
I STILL LOVE NEW YORK ❤❤❤❤
I still love New York City too! There is no place like it!
You can still find affordable apartments in Queens. I moved here three years ago from Los Angeles and found a decent and affordable apartment.
Media and young intellectuals live there, so it will always be portrayed as a huge problem. Why can't other cities be made to have the same advantages of NYC? The real reason people want to live there is that it's the only escape in America from the endless stretch of highway, parking lot, suburban subdivision, and strip mall. The only place you can walk around rather than being stuck in a car. Yes, there are areas of Boston, DC, etc., but NYC is the only real city.
I love your comment! ❤
I am paying $10 per square foot per month. Luckily, I live alone in the middle of nowhere. 🇨🇦
Living in the middle of nowhere is boring. I live in New York City and I am very happy to be here, even if it costs me much more! It's worth it!
The way inflation is going it will soon become a billionaire city.😅
*It’s pretty much been extremely high income earners and section 8 or rent controlled for as long as I was a kid. Not surprising.*
Look up OER (owners equivalent rent) in NYC and you’d be surprised how much owners have to pay in HOA and property taxes. That’s why the rents can’t go down much and all the new construction is on the high end.
People talk about crime as if it was the worse thing in the world. But it did allow many people to stay. Of course some people got killed, but not on the level of those who left.
So you can effectively get rid of poor people by raising rents vs being in a crime neighborhood that they have adjust themselves to coop.
But at least they can live in the city vs being forced into a city where they must drive everywhere.
You can’t afford a 3k apartment here if you make 130k a year. Whoever did the math is still getting allowance from daddy. To afford a 3k unit comfortably here (meaning you are saving, paying student loans, bills, having a basic nyc social life, traveling 1-2 times a year and not living paycheck to paycheck) you’d have make at least $180k
Not to mention owning property, which is something people from elsewhere traditionally aspire to. In NYC, it is something only possible for people that are very rich
And don’t forget being taxed heavily by 3 different entities, if you live in NYC and if you’re in Jersey but work in NYC. 😡
True, but it’s based on a general rule of thumb that doesn’t take into account taxes and other expenses as those can differ from person to person.
@@OverEast34 the “general rule of thumb” hasn’t been accurate in at least a decade. And obviously everyone’s situation is different, that’s why I’m saying what’s generally comfortable. I know because I’ve been poor in nyc and now within the top 5%. If you are paying 3k alone and don’t make min 180k you are living beyond your means.
I am living well in NYC and am NOT rich. It is possible to find an affordable apartment and live well. Difficult, but possible. It took me five weeks to find my place, but I did it. You just need to work at it, as a full time job, until you find it.
Don't worry about low wage jobs, because they will be replace by robot/AI.
What and interesting video and true
What will New York do without the cleaners, and cooks, and laundry workers and construction and repair people, will they also be millionaires? Where will the working class live? Is the plan to create a permanent and generational underclass?
That so far as what we know of history, always fails and civilizations that go in that direction, collapse.
The real reason, is that NYC is the capital of North America.
And the world's #1 financial center.
@@shauncameron8390 And one of the top cultural centers for opera, ballet, theater and art.
Indeed🎉
Laughs in Tokyo
I encourage people especially nurses to move to California.
California is expensive
@@marlomchenry1784 its not if you are a nurse.
5:10 shows that population of NewYork increase less than the number of houses.
So maybe the median salary in New York is too high. The salaries need to be reduced.
people should be poorer so you can feel better about yourself , wtf
@@titanicisshit1647 There are more houses now relative to population size than before. So why are New York house prices high? I am fine with higher prices but if they need to be lowered then the only option is to reduce salaries of people. After all, I repeat that there are more houses now than the earlier time periods relative to population size of NewYork.
@@firstpostcommenter8078 houses would 200 times cheaper if you go to rural afghanistan , the universe's purpose isn't to decrease nyc house prices at all costs ,reduce salaries wtf
@@titanicisshit1647 Correct. NYC house prices being high is fine. There are more houses relative to population now than ever before. If people want houses for very less prices relative to salaries then they should buy in small towns, Not in the global cities.
I keep seeing people of global cities complaining that they had to leave their city due to un-affordability. Well, people in small towns and villages also have to leave their home towns because of lack of jobs. The root cause for both the issues is the same. Jobs being concentrated in one place. Either spread the jobs or let the global cities be unaffordable. No one has a right (even people who grew up there) to global city if all jobs are concentrated there.
hallo millionaire here! 👋 if you cant afford to live in a penthouse in Tribeca can you really afford to live at all?? ha ha (i have 10 dollars in my bank account welp)
Incogni is better, but everyone should do their own research. But good to tell people about this stuff anyway
You couldn't pay me to visit NYC. It has come full circle to the late 80's in being a cesspool of crime and corruption and a disgusting blight of urban decay.
So basically capitalism
Rapacious landlords and avaricious real estate developers are those to blame for exorbitant renting costs.
Millionaire is middle class
#BringYourRobots
Nah. /
Capitalism without interventionism never works.... Americans you loved capitalism so much rigth what now?
It’s more like Americans used to lived in depression
🇮🇱 🤣
New york should vote red next time
That would honestly make things worse in my opinion as a new yorker
That would make it much worse
Millionaires Only ... u mean Refugees Only
Capitalism. The answer can always be traced to capitalism.
Really? Wallmart are the ones savaging us? Not govt?
This guy killed his channel after Ukrainian video
Hahahaha.I noticed that too.This channel got bombed after the Ukraine video.
"No one" can afford to live in New York? Click bait titles turn off viewers.
?
bro what its a figure of speech lmao
Just leave