Cities Compete in Hipness Battle to Attract Young

NY Times ^ | Nov. 26, 2006 | SHAILA DEWAN

[durasell]

That's not quite true, but NYC is expensive.

[ladyjane]

I am not sure why you are saying it is not true. That is the number that homefair comes up with.

It is possible they are not looking at all five boroughs of NYC. Perhaps they're just looking at real estate prices. I do not know the algorithm they're using.

Having lived both places I can tell you the cost of housing and some services are about a quarter of the NYC cost.

[durasell]

$15k isn't a quarter of $100k.

I would guess the number is closer to double the $15k figure.

In any event, it depends on how old you are. A young person in NYC can still live relatively cheaply as generations of young people have done in NYC. On the other hand, if you "require" a good sized apartment and all the amenities,then the price jumps.

[ladyjane]

You should read more carefully.

I did not say 15k was a quarter of 100k. That number came from homefair, not me.

Additionally I provided you with anecodal information, having lived in both cities. I would say 25k is more accurate.

Yes, generations of young people have all piled into one small apartment in Brooklyn or Queens.

In Charlotte young folks live alone in 1300 sq.ft. units with 2 bedrooms, hardwood floors, granite countertops, fireplace, AC, swimming pool, and a garage to park their BMWs. They can buy these places for less than the cost of a parking space in NY.

[durasell]

In Charlotte young folks live alone in 1300 sq.ft. units with 2 bedrooms, hardwood floors, granite countertops, fireplace, AC, swimming pool, and a garage to park their BMWs...




The kids who come to NYC aren't usually interested in those things. In most cases, they're focused on their careers -- whether those careers are on wall street, law, the media or the arts.