60% Of New Yorkers Are One Paycheck Away From Homelessness

Tyler Durden's picture

More than half of all New Yorkers don't have enough money saved to cover them in the event of a lost job, medical emergency, or other disaster, according to a new report by the Association for Neighborhood & Housing Development.

Click image for massive legible version)

 

As The Gothamist reports, nearly 60 percent of New Yorkers lack the emergency savings necessary to cover at least three months' worth of household expenses including food, housing, and rent, but that statistic isn't spread evenly across the five boroughs.

The Bronx has the highest rate of families without adequate emergency savings: in Mott Haven, Melrose, Hunts Point, Longwood, Highbridge, South Concourse, University Heights, Fordham, Belmont, and East Tremont, 75 percent of families have inadequate emergency savings. The Staten Island neighborhoods of Tottenville and Great Kills have the lowest rate, with just 41 percent of families lacking the funds necessary to cover three months' worth of expenses.

 

Without these savings, families who face emergencies could be at risk of eviction, foreclosure, damaged credit, and even homelessness.

 

In Brooklyn, families in Brownsville (70%), Bed-Stuy (67%), Bushwick (68%), East New York (67%), and South Crown Heights/Prospect Heights (67%) are the most at-risk—in Manhattan, an average of 67 percent of families in Harlem, Washington Heights, and Inwood lack necessary savings.

 

In Queens, the neighborhoods with the highest percentage of these households were Elmhurst/Corona (64%), Rockaway/Broad Channel (60%), Sunnyside/Woodside (59%), and Jackson Heights (59%).

 

Read more here...

As The ANHD report above shows, there are a litany of other statistics that, when looked at together, paint a picture of a neighborhood's potential (or lack of it) for economic opportunity: incarceration, unemployment, poverty rates for each neighborhood are included, as are each neighborhood's percentage of small businesses, percentage of households without internet, and percentage of rent-burdened households.

Now the question is - is this fake news? is this peddling fiction? Since it sure doesn't add up to the utopia that Clinton/Obama/Dems have spewed to their identity-divided supporters.

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King Tut's picture
King Tut (not verified) Nov 27, 2016 9:33 PM

I can't give it away on 7th Avenue 

RAT005's picture

There are numerous studies that show half of USA don't have even $1,000 of savings so not having 3-months living expenses in NYC is just being redundant again.

swmnguy's picture

Actually, it sounds like New Yorkers are doing better and saving more than most Americans.

Escrava Isaura's picture

60% Of New Yorkers Are One Paycheck Away From Homelessness

One Pay check?

60% of the world, if not more, doesn’t have a paycheck.

About 40% of the world lives in shantytowns.

100 million are homeless.

Welcome to the New World (coming Des)Order.

 

https://www.homelessworldcup.org/homelessness-statistics/

 

 

Antifaschistische's picture

The irony of New York, which is the parasite capital of the world (perhaps tied with London), that drains wealth of the productive and scalps every financial transaction in the US and much of the world......is also full of people who are not parasites...but live off of the spending of those parasite class.  Many of them are actually hard working people but just can't keep up with the fed induced price jacking caused by the money scalpers.  The trigger of course being land prices driven by mortgage lending handouts from the fed.  Not only do they scalp the entire US, the same phenomenon jacks the prices in NY to absurd levels.

good luck when it comes down.

Escrava Isaura's picture

Parasites?

New York and London dominate/control about 43% of the world GDP.

Parasite is the wrong word, in my opinion. These are the ultimate apex predators, you like it or not.

 

Haus-Targaryen's picture

Apex preditors ... I like it.

Can you imagine when the next downturn starts?  The US' social-welfare system will implode like the Hindenburg.  

I am constantly amazed, seemingly educated people who are involved in the finance industry and understand market dynamics refuse to protect themselves from the coming financial apocalypse.  The financial system has been slowly collapsing for some time now.  Its structural weaknesses are laid bare for all to see.  The next leg downward will be very aggressive and violent. 

letsit's picture

Get acquainted with the Predators.
https://goo.gl/bFYusM

techies-r-us's picture
techies-r-us (not verified) letsit Nov 28, 2016 12:28 AM

Unleash the Aliens.

Haus-Targaryen's picture

No one click on this -- spam. 

One of these is not like the others..'s picture

Why?

Becuase someone with a double barreled euro username says so?

Sheesh, gimme a break will ya?

And please use the time to go look up the definition of spam and spamming will you?

philipat's picture

SPAM ALERT: Do not open the fake links. tazs has now joined letsit as co Spammer-in- Chief after Yippee Kiyay and lonnng were banned. This serial spammer amongst others known as: mofio, santafe, Aristotle of Greece, Gargoyle, bleu, oops, lance-a-lot, Loftie, toro, Yippee Kiyay, lonnng, letsit, Mano-A-Mano, techies-r-us, beauticelli, stizazz, Nekoti, SumTing Wong, King Tut, Adullam, espirit, rp2016, Holy hand grenade of Antioch, lock-stock and tazs (some banned others still active for the purposes of talking to and congratulating himself). He seems to have more accounts than all other ZH members combined.

 

 

One of these is not like the others..'s picture

Very enlightening. Not so much like "spam", more like information which clearly your detractors do not like being disseminated.

If of course the information you are trying to disseminate is true, then it logically follows that the only way to oppose it would be to lie.

An example of dishonesty would be found in them calling it "spam" for example, when spam is defined in miriam webster dictionary as:  "unsolicited usually commercial e-mail sent to a large number of addresses" which that link clearly is not.

I for one would be very disappointed if ZH shut you down, this site is a smorgasbord of different points of view all being allowed to vie for attention, and as such a welcome relief from the scary and valueless monotony I hear everywhere else.

 If I were not so busy today wth other things I might even be tempted to look through the posting history of you and your detractors to see who is actually wearing the white hat from my perspective. Although at a glance I'd say that misdescribing you links as "spam", doesn't exactly shout "credible witness" does it?

philipat's picture

One of these is VERY much like the others, specifically:

mofio, santafe, Aristotle of Greece, Gargoyle, bleu, oops, lance-a-lot, Loftie, toro, Yippee Kiyay, lonnng, letsit, Mano-A-Mano, techies-r-us, beauticelli, stizazz, Nekoti, SumTing Wong, King Tut, Adullam, espirit, rp2016, Holy hand grenade of Antioch, lock-stock and tazs.

Other "normal" readers do not appreciate SPAM. As for SPAM, if it walks like a duck....etc. WHy not just tell people you are an anti-semite and give them the link to your site without disguising it? Perhaps you believe that few, if any, would click on an honest link? Hmmm...

letsit's picture

o boy

edotabin's picture

I was in nyc 1 year ago. There was an article in the "real news" nyt about 50% of the people barely making it. 1 year later it is up to 60%. The predator seems to be cannibalizing itself. 

It is a cold, grey,  miserable shithole.

InTheLandOfTheBlind's picture

you must have some bad blood for those down votes... can't say i blame them with your past posts, but when you are right you are right.

Paul Kersey's picture

One of these statements is fake news:

“The United States of America, right now, has the strongest, most durable economy in the world,” Obama said, according to prepared remarks. “Anyone claiming that America’s economy is in decline is peddling fiction.”

"Approximately 62% of Americans have no emergency savings for things such as a $1,000 emergency room visit or a $500 car repair, according to a new survey of 1,000 adults by personal finance website Bankrate.com."

BabaLooey's picture

I'll take Bankrate.com for $1,000 Alex....

mkkby's picture

Both are peddling bullshit.  Everyone has a credit card or 6.  That is how people with no savings pay for small emergencies. 

A car repair won't drive them into homelessness.  This is just retardedness.  Especially not in NY, where everyone has busses/trains.

 

effendi's picture

WRONG! Not EVERYONE. Never generalize or project your own situation onto everybody else.

I have no credit card. Got rid of it years ago. I also earn slightly above the medium income and I try and pay CASH for my day to day purchases (and online etc I pay via my debit card from my money in a bank account). It is also so nice having a couple of months worth of fiat stashed away and even nicer to have more in bullion.

Relying on credit cards makes you a debt slave. Always trying to pay off both the bill and the interest and hoping another unexpected bill doesn't take you over your credit limit. Madness.

zippedydoodah's picture

Whoopy Fucking Doo Daa for you. Read the article again... More than 50% don't have enough MONEY.

MONEY is also known as CASH.

"It is  also so nice having a couple of months worth of fiat stashed away and even nicer to have more in bullion."

Fucking ignorant moron, what part of being poor equates to having bullion?

Shithead.

mickrussom's picture

Liberalism and open borders. This is their star city in their grand experiment. Its a billionaire's playground with no middle class and no hope and impossibly expensive real estate. 

land_of_the_few's picture

*Desi*-order ... H1Bs, inter-company transfers, and so on destroying the main mid-income jobs in the economy on behalf of the 0.1%

SweetDougisaTwat's picture

60% of the world are some variety of shitskin.

Déjà view's picture

Staten Island...lots of covered 'pubic' employees...

shamus001's picture

And the other 40% hold 90% of their savings in a hole in the floor.  Only an idiot would keep their life savings in a bankrupt bank. 

Déjà view's picture

Little Joe never once gave it away
Everybody had to pay and pay
A hustle here and a hustle there...

 Times are changing...on 7th Ave.

hedgeless_horseman's picture

I can't give it away on 7th Avenue 

 

 

 

Now that, ladies and gentlemen, is a great first comment, and a good lyric from an under rated song.

AtATrESICI's picture

sorry for the spam

andrew breitbart on twitter from 2011 regarding podesta

txt from post

How prog-guru John Podesta isn't household name as world class underage sex slave op cover-upperer defending unspeakable dregs escapes me.

 

https://steemit.com/pedofile/@mm3/andrew-breitbart-on-twitter-from-2011-...

 

All of this data needs to be aggregated so widely it is impossible to delete




https://i.sli.mg/rs0N7o.jpg

https://archive.fo/ubd4b

http://i.imgur.com/4UNmvBF.jpg 

http://archive.fo/ubd4b 

https://archive.fo/download/ubd4b.zip

https://twitter.com/AndrewBreitbart/status/33636278100561920

 

https://steemit.com/pedofile/@mm3/andrew-breitbart-on-twitter-from-2011-...

Omen IV's picture

they use to give it up on 6th Ave west side of the street just south of 58th st north of Wolfie's (great pastrami - now gone) - they were all there to catch the hotel crowd during the week nights but that was some time ago - not expensive but cash only !

larz's picture

Write to chucky Schumer you keep electing him he's from the government he's here to help

LithiumWarsWAKEUP's picture

And to think we get that 'prized' comedianne Amy What'sHerFace as a 2nd cousin, once removed, of ol' Chucky, all thrown in for free. Is it anti-shumite to say 'we gots too many jOOs involved'?? I mean, only 2% of the population of the USA and we got about 50% joos 'in the limelight'. wtf.

nmewn's picture

Stronger Without You!

/////

It should be pointed out that the study is regarding New York CITY...not the state.

http://anhd.org/wp-content/uploads/2016/11/20161106_anhd_ed_poster.pdf

Haus-Targaryen's picture

Its too damn bad NY State is filled with progs. 

tarabel's picture

 

 

All in favor of a mandatory two-week-long New York bank holiday, raise your hand.

the.ghost.of.22wmr's picture
the.ghost.of.22wmr (not verified) Nov 27, 2016 9:44 PM

Homeless or soon to be?

 

Killing you local politician, permit Nazi, or jackboot will get you three hots and a cot for an extended period of time.

 

I expect a lot more people to be taking that option in the future.

yogibear's picture

Keeps you out of the cold. With free food and healthcare.

Nero_Hedge's picture

When the next recession really hits and becomes undeniable, I predict there will be millions of people who cannot pay rent that will choose to squat instead of complying with eviction notices. It will get ugly and violent if the states' security forces begin enforcing for the banks and forcibly removing people.

ornelwest's picture
ornelwest (not verified) Nero_Hedge Nov 27, 2016 10:46 PM

you mean like the 2008 crash? when none of what you said happened and NYC  real estate and rents bounced back faster than the rest of the country?

Nero_Hedge's picture

Well my prediction wasn't just for NYC, but much of the country actually, and I think the underlying situation is muh worse now than it was in 2006-2007, so we won't see the "bounce back" you apparently experienced

shamus001's picture

Such a naive comment reflects that you have no grasp of monetary policy.

in 2008 mortgage interest rates were 6 and 6.5% respectively.  When property began tanking, and homes were forclosing enmasse, the govt responded by dropping interest rates lower than anytime in recorded history!

Interest rates to banks sub 1%  Interest rates from banks to home-borrowers (last month) were at 3 and 3.5% (15yr & 30 yr)  Which enabled borrowers who previously couldn't afford a home to qualify for more.  This sold off the old stock, and boosted the new home sales both to those who had financially qualified, but Freddie & Fannie bought the old stock that wasn't selling (but dragging down home values) and took them off the market.  Gov loans to poor folks with 0 down again boosted home sales in the 150k neighborhood, and those homes 150-250 moved at a good speed with the low interest rates. (qualifying those who previously could only purchase a 150k house into the 250k range)- selling lower end homes for an upgrade at the same mortgage of the old home (at higher interest)

So...my astute fellow... here we are again today:  Tapped buyer base, home sales stagnating, interest rates as low as they could possibly go, and banks and bonds in deep doo-doo-ola.  You tell me.... what rabbit is left to pull out of a hat?

These home values are going to tank, and tank hard in many places, less in others, but tank they will.  Negative interest rates will destroy the hedge funds; I don't foresee that working in the long run.  Things MUST normalise.  The pendulum will eventually swing back the other way and stabilize finances with the free market (not market manipulation) leading the way to true price discovery; real price discovery.

Lost in translation's picture

They will be forcibly removed, make no mistake about it.

Muslim immigrants need homes!

SquirrelCutter's picture

Is there a way I can donate?

 

I'm with Cliff Burton: Kill 'em all!

Kprime's picture

I expect ambush killings to be many times higher in the next 5 years.  all the gestapo armor in the world won't save save you from a point blank bullet in the neck while you are taking a piss or munching on that doughnut.

"here you go ma'am, the donuts on me, everyone deserves a last meal."  And keep the change, it's been a really good morning.

Bryan's picture

"New Yorkers"... meaning New York City dwellers?  What, hasn't that island broken off and floated away into the Atlantic yet?

Automatic Choke's picture

perhaps if we add more people, it will capsize, sorta like Guam.....