[RhodesianHunter]

Yes, living in one of the, if not the, most desirable cities on the planet comes with additional costs.

[gen220]

NYC has been in that category for a long time.

The 60% of income on rented housing for people whose income would make them otherwise solidly middle class (to me, this definition includes ownership of real estate) is new.

Something else that's new: the prevalence of managing NYC properties through family trusts from a great distance while its members are domiciled and functionally unemployed in tax-shelter states. Hmm, I wonder if there's any explanatory power to that correlation?

[rangestransform]

NYC has incredibly incredibly low permitted additional housing per capita last year

[RhodesianHunter]

Hard to get much denser than NYC without massive capital expenditure.

[WarOnPrivacy]

> Yes, living in one of the, if not the, most desirable cities on the planet comes with additional costs.

Being housed is highly desirable and has sharply driven up the cost in places where people are housed.

[RhodesianHunter]

Malibu, CA is very expensive to live in as well.