Updated Feb 14, 2018

Where U.S. income inequality is the most severe

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New York City's mansion tax impacts housing cost

Manhattan sunset, seen in September from Arthur Ashe Stadium in Queens, home of the U.S. Open. Photo: TPN/Getty Images

The average price of a Manhattan co-op or condo fell to $1.8 million in the fourth quarter of 2019, according to Douglass Elliman, the largest real estate brokerage in the New York City area, the Financial Times reports.

Why it matters: "The Manhattan property drop is in sharp contrast to the rally on Wall Street, where stock markets have hit new records."

Go deeperArrowJan 4, 2020

Affordability is driving Americans' decisions on where to live

Data: Prudential; Note: ±3.0 margin of error; Chart: Axios Visuals

Most American workers place affordability above jobs on the priority list when determining where to live, according to Prudential's Pulse of the American Worker survey conducted in November by Morning Consult.

Why it matters: The high cost of living in job-rich centers holds people back from looking for new opportunities there.

Go deeperArrowDec 31, 2019

Private equity firms fear a Democrat topping Trump in 2020

Illustration: Aïda Amer/Axios

Private equity firms will rush the exits if they believe that a Democrat is likely to defeat President Trump, investors tell me.

The state of play: Each of the four leading Democratic candidates have pledged to eliminate beneficial tax treatment for capital gains among top earners.

Go deeperArrowJan 14, 2020