Saturday, July 30, 2011

Is there an income ceiling?

My neighborhood has been constantly changing over the years.  For a very long time, when I first moved here, the neighborhood was 'bad', lots of crime, drugs and violence.  According to the latest census reports, Manhattan is the wealthiest county in the U.S.  Median income in Manhattan, which means that half are above and half below, is $64, 217.  The mean income, which means the average [add all the income of Manhattanites and divide it by the number of people living here] is $121,549.  The richest are on the Upper East Side.  72 of Forbes 400 richest people live in NYC.  To be considered rich your worth has to be over $1billion.
Mars Bar on 2nd Ave. and  1st Street officially served it's last beer.  The rule was: "never order a drink that comes in a class at Mars Bar".  The old crusty East Village is going to make room for "luxury Rentals".A One bedroom of 520sq. feet rents for $4471 per month.  That's what the city now calls middle income housing. 
  I can't tell you what others are renting for because rental prices are only offered upon request.  What's great about the location is you can leave your luxury rental and just a few doors away visit the Tenement Museum.
One of those middle income apartment buildings has just leased space to a new restaurant; it's named Heart Break.
Not funny because right across the street is the Church of The Nativity.  The Church has been serving the community since 1842, and they have just recently put up this sign: "Due to State and Federal Budget Cuts The Food Pantry will be closed until further notice."  We're ready for Trump.  He could build residences for
David Koch who according to Forbes, is the richest man in the U.S.  He's worth $17 billion.
The median income for the richest people in Manhattan is $188,697 for the poor it is $9,320.  30% of the poor are below 18 years of age.  18% are over 65.  My numbers are from the US Census Bureau and Forbes Magazine.     

1 comment:

marion21t said...

This is all very sad.