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It doesn't sound like these people are at the bottom

It does to me. These are likely people that are living in lower quality housing with more people packed in per square foot of housing out of necessity. I don't have actually data to back up this assertion, but this has been my personal observation of folks that do the kind of informal work that allows them to be paid under the table.

We're talking about these people right?

> I have some NYC-native friends whose parents make less than $20k a year on paper but own homes and generally live comfortably.

There's some truth. My friend's parents don't live in desirable areas (to white collar workers) and in older housing. It is not rundown or anything, but it is an insular immigrant community. There's a reason almost none of their first generation kids stay in that area.

But they live comfortably — at least the people I talk to go on vacation often, were able to help my friend with student loans, have cars in NYC, etc.

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