http://www.theatlantic.com/business/archive/2011/11/expensive-urban-real-estate-is-a-consumption-choice/247937/
Thursday, November 10, 2011
Real Estate Choices
The article entitled, "Expensive Urban Real Estate is a Consumption Choice," reveals the interesting demographics of Occupy Wall Street, but then continues to discuss how "living in an expensive city is a consumption choice." It presents the observed feelings of many people "living in New York (or San Francisco, or Boston)," and how several of these people are very affluent, yet still consider themselves to be 'middle-class.' They do not understand the trade-off that is involved when choosing to live in a city like New York. When the decision is made, these people are agreeing to place all their extra wealth toward enjoying a big city lifestyle, instead of the "spacious real estate, cheap groceries, and easy commute," that comes with a smaller city or suburb.
Subscribe to:
Post Comments (Atom)
This is an interesting trade-off and perspective. Obviously we base class on how much money a person makes, but does it make more sense to determine class on how much your money can buy? It's also important to consider the fact that some of these people may not have had the option of living in a small town simply because the only jobs available were in big cities. Is this a trade-off or a necessary sacrifice in today's economy? A choice or a requirement?
ReplyDelete