Home > The Economy > The eight-figure apartment

The eight-figure apartment

from David Ruccio


As the New York Times explains,

not every neighborhood in Manhattan has a million-dollar entry fee. The median price — what 50 percent of people paid less than — was just $910,000 over the last 12 months, and there are still places where the average residence sells for less than half a million. There are also some areas where prices declined.

But the “lower” end of the Manhattan market is shrinking. The proportion of the market that sells for less than $500,000 (again, after adjusting 2009 prices for inflation) dropped about 3 percent during the recovery.

Still, the sales of eight and nine-figure apartments are”yet another indicator that the richest of the rich have had the best recession recovery.



advertisement    WEA eBooks

Green Capitalism: The God that Failed

by Richard Smith    $20  Cover of Green Capitalism: The God that Failed
This book is essential reading for  anyone opposed to planetary suicide.
David Klein, Truthout

Everyone who cares about the future of our children and grandchildren
must read Smith’s book so we can begin the urgent challenge of moving
to a different path.      David Suzuki, University of British Columbia

1. How Did the Common Good Become a Bad Idea?
2. Beyond Growth or Beyond Capitalism?
3. Green Capitalism: the God That Failed
4. Climate Crisis, the Deindustrialization Imperative, and the Jobs vs. Environment Dilemma
5. Capitalism and the Destruction of Life on Earth: Six Theses on Saving the Humans

  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s