NEW YORK (AP) — It's become the common catchphrase for those seeking to lead the nation's biggest city: New York is increasingly out of reach for the middle class.
That sounds inarguable in the home of the $125 million penthouse, the $1 million parking spot and the $295 burger. And it's a strategic line for candidates looking to capitalize on the view among many that ultra rich Mayor Michael Bloomberg was out of touch with the average person.
But is it just populist campaign rhetoric, or is the Big Apple really hollowing out at the socioeconomic core?
Key statistics are mixed but indeed sketch a city of increasing economic extremes and a crunch in the middle. It's a trend nationwide, but the wealth has raced to the top faster here.