Cost of living in NYC- a break down

[MRoss]

...oh right. To earn $250,000.

 

[Eugene Krel]

there is a vast difference between living on foodstamps and not....

 

[bigbadwolf]

It's a dog's life being a millionaire. Forget your kid's third iPad or wife's Porsche of the month, I hear you now get bounced out of some Meatpacking dist. clubs for forgetting to update your rolex to the current week's model. Give me my 12,000 a year and Harlem shanty any day.

Just being barely a millionaire (i.e., net worth between $1m and $5m) doesn't mean much in major cities like NYC and London. I doubt such a millionaire could afford a Porsche. Someone -- I forget who -- came up with classification of $1m-10m as affluent, $10m-100m as middle-class rich and $100m-1bn as very rich, withe the bilionaires being in another category. The 6-bedroom penthouse at the recently completely One Hyde Park Corner (London) sold for 140m pounds (~$210m). Roman Abramovish's yacht supposedly cost $1.1bn.

Even a Harlem shanty must be worth several hundred thousand dollars -- weren't they trying to gentrify it some time back?

Money doesn't buy what it used to. And also, as the disparities in wealth have increased, many of those at the upper end have got vastly richer and there are differences among them themselves.

 

[Andy Nguyen]

Why not go a bit further up to Riverdale or cross the river?
You pay an arm and leg for trying to stay in Manhattan. A few more extra subway stops will lower your cost significantly.

 

[MRoss]

People take the subway when they make over $500K? I always wondered what the salaries of those businessmen in the fancy suits on the subways were...

 

[alain]

People take the subway when they make over $500K?.

why not?

 

[MRoss]

why not?

I always assumed the class difference would make people uncomfortable. For example: I try not to take the subway back to Far Rockaway every night because I know that late nights are not nearly as safe as the LIRR. I pay a $6 premium per ride for this.

 

[Lyosha]

I pay $900 a month in east harlem...

Manhattan is supposedly one of the worst places in NYC to own real estate; renting is supposed to be much cheaper.

 

[Eugene Krel]

not every affluent person has to wear a $10k suit on the subway. they might be wearing ripped jeans and a tshirt just as easily.

 

[myampol]

Mayor Bloomberg rides the subway to work.

However, rather than cramming sardine-style into the No.6 local train at the 77th street station nearest his home, he is instead driven a mile to the express station at 59th street (which, incidentally, happens to be beneath the office tower of his eponymous company, Bloomberg L.P.)

http://www.nytimes.com/2007/08/01/nyregion/01bloomberg.html
http://www.nytimes.com/imagepages/2007/08/01/nyregion/20070801_BLOOMBERG_GRAPHIC.html