Chelsea Clinton Can Afford to Live in New York, But You and I Probably Can’t
March 15, 2013 - 8:58 am
Former First Daughter Chelsea Clinton and her husband have just splurged on a new place in New York City. Pricetag: $10.5 million. That’s movie star or dot com inventor money.
Clinton’s new home at 21 E. 26th Street features four bedrooms, six and a half bathrooms, a home office, a media room and a family room with a full view over Madison Square Park. According to the listing, the master bathroom is decked out in Italian marble. The Post reported that Clinton’s parents, former President Bill Clinton and ex-Secretary of State Hillary Rodham Clinton, toured the couple’s home during a visit last week.
New York has hit a record 3.8 million in population, but that may be its high tide. It’s getting too expensive for people who aren’t in “public service” to live there. Sort of like Washington DC.
The low and middle classes are being priced out of a life in New York City. Even as many residents spend fifty percent or more of their earnings on housing, the majority of the city’s “affordable homes” are still out of reach. House prices and rent have risen by more than forty percent since 2001, and landlords, betting on gentrification, are evicting existing tenants in favor of wealthier ones. The result is a skyrocketing homeless population and a threat of a mass exodus to other cities and states.
Question: How did the Clintons get so rich off of “public service?” I mean, besides their shrewd investments in cattle futures?