Boston is an intellectual, technological, and political center but has lost some important regional institutions, including the acquisition of The Boston Globe by The New York Times, and the loss to mergers and acquisitions of local financial institutions such as FleetBoston Financial, which was acquired by Charlotte-based Bank of America in 2004. Boston-based department stores Jordan Marsh and Filene's have both been merged into the Cincinnati–based Macy's. Boston has experienced gentrification in the latter half of the 20th century, with housing prices increasing sharply since the 1990s. Living expenses have risen, and Boston has one of the highest costs of living in the United States, and was ranked the 129th most expensive major city in the world in a 2011 survey of 214 cities. Despite cost of living issues, Boston ranks high on livability ratings, ranking 36th worldwide in quality of living in 2011 in a survey of 221 major cities.

The New York Times bought what famous Boston newspaper?