High cost of living makes New Yorkers poorer

City Journal — August 05, 2009

Wages in New York City don't stretch nearly as far as they would in another city, according to a recent report. Someone living in New York City would have to earn $100,000 a year to achieve the same standard of living as a person making roughly half that in Washington, DC and Chicago. The discrepancy is to due largely to the outrageous cost of housing here, which is nearly 70 percent higher than in Chicago and almost 50 percent higher than in Washington, DC. Combine the outrageous cost of housing with the inflated costs of groceries and utilities, and New York becomes one of the poorest states in the country with the second-highest cost of living. It's reasons like this that the union fights so hard for higher wages and increased affordable housing in the city, to insure that New York is place where New Yorkers can live and work, building secure lives for themselves and their families.

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