Diminishing Middle Class in NYC

If we look at the Lower Manhattan, it won't take us long to notice the change that has taken place in it in the last 10 years. The population especially the residential population has doubled up in the last 10 years as there has been an addition of 30,000 residents who are now living in Manhattan.

The main reason behind this sudden and huge growth in the population is the trend of construction that has taken place in Manhattan. This trend has led to the production of new as well as the conversion of the old buildings into new luxury housing. For this reason the living costs of the area have increased a lot and the previously affordable residential areas in the city have become some of the most expensive ones to live at. Also, the areas that used to be affordable to live in...
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