Wednesday, April 30, 2014

How Gentrification Affects Those on Fixed Incomes and Has Public Policy Done Enough to Address this Issue?

According to a recent NYT article "The city’s older population is now its fastest growing. By 2030, New York for the first time will have as many residents 65 and older as those of school age — 15.5 percent of city residents, compared with 12 percent now, city planners say. By then, the city will have 300,000 more older people than the one million it has today. By 2040, it will have over 400,000 more than it does today."  The widening income gap between rents and incomes with hit them the hardest, even in rent stabilized dwellings. Here's an interesting article which explains how public policy has affected this demographic.

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