U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 1.5 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Jump to a detailed profile or search
site with Google Custom Search

Search Forums  (Advanced)
Business Search - 14 Million verified businesses
Search for:  near: 
Reply
 
Unread 03-16-2008, 09:12 AM
 
2,541 posts, read 6,417,045 times
Reputation: 813
Default who has the better economy right now:chicago or New York

who has the better economy right now: chicago or New York
Reply With Quote Quick reply to this message

 
Unread 03-16-2008, 11:28 AM
 
Location: America
6,249 posts, read 8,528,406 times
Reputation: 1593
I have not done ANY research on this so don't hold me to this one. I would ASSUME it would be Chicago. Reasons being is, the financial markets are under going the correction of a life time, which equates to a lot of lost revenue. I read in the NYT that for every 5 dollars earned on wall street a dollar of it goes back into the NYC local economcy. That is a LOT of money. When lay offs and everything start really kicking up thats going to hurt that city big time. Real Estate in NYC also went out of control and it is slowing starting to correct itself. That is also another blow to the NYC economy. Also since 9/11 a lot of sectors have left the city, specifically banking. Just look at Charlotte north carolina now as opposed to 7 or 8 yrs ago. A lot of banks have gone there. I also read that NYC has lost its relevance as a global financial center (yet another blow). I don't think Chicago has all these things going against it. Again, I could be wrong.
Reply With Quote Quick reply to this message
Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $47,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics

All times are GMT -6. The time now is 09:59 PM.

© 2005-2013, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24 - Top