From the January issue: Fans of the musical “Annie” will recall the scene where the bedraggled
redhead first enters Daddy Warbucks’ spectacular mansion, presenting a
vivid contrast to the down-on-its-luck Manhattan of the 1930s from which
Annie has just emerged. It may not be too much of an exaggeration to
say that the scene is a bit like the Manhattan of today. That is, if
Daddy Warbucks were a pop star or Russian oil tycoon.
The economic downturn continues to batter the middle and lower
classes. New York City’s unemployment rate is over 9 percent, and of the
10 occupations expected to have the largest number of annual job
openings in New York City through 2014, only two offer median wages
greater than $28,000 a year, according to a recent report by the
Manhattan-based Center for an Urban Future. [more]
Market seesaws toward wealthy buyers
In turn of fortunes, NYC's high-end market rallies, while lower end stays cool
January 14, 2011 10:24AM
By Candace Taylor
