IT'S OFFICIAL: The Recession Is Killing The Cocaine Industry


Miami isn’t the only city giving up nose candy to make ends meet, the New York Post reports.

The number of New Yorkers entering the ER for cocaine-related overdoses and requesting a stint in rehab has declined because they can’t afford to keep up their habit, Dr. Stephen Ross, director of NYU’s Langone centre of Excellence and Addiction, told the Post.

“Many cocaine addicts tell me they don’t have enough money to buy it anymore,” he said. 

The number of “accidental overdoses” in the city has dropped from 478 in 2006 to 274 in 2010. What’s more, notes the Post, the price of a gram in the city runs between $60 and $80. With Metro Cards priced at $104 per month and the cost of rent astronomically high, it makes sense for New Yorkers to cut back where they can.

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.