HOW THE POOR CAN AFFORD TO LIVE IN NEW YORK: “Someone else pays a significant portion of their bills. People who would easily be self-supporting in some less stylish place require substantial subsidies, either from the government or their relatives, or from landlords who have been forced to rent to them at below-market prices. Meanwhile, the price distortions introduced by the subsidies, combined with New York’s byzantine real estate development process, push up prices and force out ever more of the middle class, unless they’re lucky enough to have their hands on a rent-regulated apartment.”
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