More than half of all New Yorkers don’t have enough money saved to cover them in the event of a lost job, medical emergency, or other disaster, according to a new report by the Association for Neighborhood & Housing Development.
As The Gothamist reports, nearly 60 percent of New Yorkers lack the emergency savings necessary to cover at least three months’ worth of household expenses including food, housing, and rent, but that statistic isn’t spread evenly across the five boroughs.
The Bronx has the highest rate of families without adequate emergency savings: in Mott Haven, Melrose, Hunts Point, Longwood, Highbridge, South Concourse, University Heights, Fordham, Belmont, and East Tremont, 75 percent of families have inadequate emergency savings. The Staten Island neighborhoods of Tottenville and Great Kills have the lowest rate, with just 41 percent of families lacking the funds necessary to cover three months’ worth of expenses.
Without these savings, families who face emergencies could be at risk of eviction, foreclosure, damaged credit, and even homelessness.
In Brooklyn, families in Brownsville (70%), Bed-Stuy (67%), Bushwick (68%), East New York (67%), and South Crown Heights/Prospect Heights (67%) are the most at-risk—in Manhattan, an average of 67 percent of families in Harlem, Washington Heights, and Inwood lack necessary savings.
In Queens, the neighborhoods with the highest percentage of these households were Elmhurst/Corona (64%), Rockaway/Broad Channel (60%), Sunnyside/Woodside (59%), and Jackson Heights (59%).
As The ANHD report above shows, there are a litany of other statistics that, when looked at together, paint a picture of a neighborhood’s potential (or lack of it) for economic opportunity: incarceration, unemployment, poverty rates for each neighborhood are included, as are each neighborhood’s percentage of small businesses, percentage of households without internet, and percentage of rent-burdened households.
Now the question is – is this fake news? is this peddling fiction? Since it sure doesn’t add up to the utopia that Clinton/Obama/Dems have spewed to their identity-divided supporters.
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