News

Feeling the squeeze-more Manhattan natives moving to NYC’s boroughs

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NEW YORK — As more people move into a city, population, housing and overall living expenses seem to go one way—up. Manhattan is no different. People move in, prices increase, and those who have lived in a neighborhood their entire life may find that they can no longer afford it, said Nicole Gelinas a Senior Fellow at the Manhattan Institute, a local based think tank, and an expert in state and local fiscal policy, along with public transportation and infrastructure. The cost of living has changed significantly over several different time periods, and for different reasons she said. “Since the financial crisis, so we’ll say since 2008, the sales market has certainly increased markedly in prices,” Gelinas said.

Business & Economy

Housing more affordable for Michigan tourism workers than nationally

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By LACEE SHEPARD
Capital News Service
LANSING – Recent reports show many workers in the tourism industry nationally are struggling to live in the cities where they work, but not those in Michigan. A Center for Housing Policy report said employees aren’t able to afford homes or rent in the country’s top metro areas such as Honolulu or Santa Ana. Among them are housekeeper and wait staff, who often couldn’t afford fair market rent for a two-bedroom apartment. The report said Michigan wait staff could afford rent and median-priced homes. Janet Viveiros, research associate at the National Housing Conference in Washington D.C. and co-creator of the Paycheck to Paycheck 2013 report, said the statistics are based on a lot of medians that exclude those don’t fall in the average – warning that looks may be deceiving.