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Dude nearly 40 years ago NYC almost went bankrupt, NYC bond rating was at an all time low and Uncle Sam told NYC to drop dead, this was the beginning of the death of cities in America. Thankfully the Feds allowed NYC to go back in the Bond business and with low interest rates loan so the city can borrow money again. NYC looks like glitter and glimmer to the eyes of immigrants, 20 something Midwestern Transplants who are fleeing rustbelt, and Tourist, but for most New Yorkers living here is a struggle. Also NYC has 120 billion dollars in debt and is still growing and is not sustainable in the long run unless the feds make a new currency. NYC has a diverse industries and business however must salaries pay low with limited to no benefits forcing workers to apply for food stamp, NYCHA housing and Medicaid for health insurance, not good in the longrun. Also the city has to pay workers pensions and healthcare which is billions and billions of dollars and also city workers are working with out a contract from what I hear. NYC has a list of problems with its debt that makes me want to throw up. Its nice having bike lanes but a few feet away roads are full of pot holes that can cause injury, huge waste of money for the city. But overall I do agree with you.
What nonsense. And the $120 Billion dollars in debt you keep proclaiming is the future pension and healthcare costs. Yea, it's a lot, but considering the amount of municipal workers we have, our 70 billion dollar annual budget, and an annual GCP of more than a trillion dollars, it's not that far fetched or dire.
Your posts are full of such misinformation and only shows your lack of understanding of how complex cities work. It's as if you were educated by NY Post headlines. Do us all a favor and expedite your move to simpler place.
True, NYC also has a much bigger wealthy to upper middle class population, let alone a larger regular middle class. Many people who go to NYC are ambitious and can reach success, many also go to try to just survive and leave soon lol.
I suppose the normal person that just wants a normal life obviously shouldn't aim for manhattan, but rather than saying Detroit is an example of NYC's future... I'd think it's better to say NYC is an example of Americas future. You gotta realize the demographic background of Detroit, the wealth lies in the suburbs here, rich or wealthy in Michigan does not equal the same out east. The same suburban home in Michigan compared to jersey could range from 2 to 4 times cheaper in Michigan. Most of Michigan is suburban sprawl, no great city to boost housing values etc.
What I mean by saying NYC could be an example of Americas future is this... basically it's going to take more for a person to get less, and the person can look at it two ways, they either have no skill in demand that could lead to them becoming wealthy or not. They realize they can't become anything they want anymore so just try to find a place with cheap living that really isn't great but at least you got family. In America the best in anything are rewarded, 2nd best is even looked down upon lol.
Everyone will either get more competitive, and that could mean people getting more desperate to make money legally or illegally. People may get fed up with how things are run and cause change, some people may leave the country. I read a NYtimes article on expats from NYC moving to Sao Paolo, Brazil.
Except most people probably aren't even second best. So perhaps people should reassess what they value. I don't think America's future is like NYC. NYC is an abnormally densely populated space compared to the rest of America, and there are plenty of other significant differences as well.
I cant believe this idiot is saying the middle class is returning to the city, hell i almost loled in my pants when I read that. Reading your post makes me want to vomit. NYC has a lower middle class rate than the national average, also NYC middle has been free falling for the past ten years.
Check out the thread where I posted the link on the poverty of elderly immigrants. Its a rapidly increasing problem, and I'm sure a number of transplants will end up in the same situation in old age, assuming they stay in NYC.
Except most people probably aren't even second best. So perhaps people should reassess what they value. I don't think America's future is like NYC. NYC is an abnormally densely populated space compared to the rest of America, and there are plenty of other significant differences as well.
My second best comment was mainly aimed at these debates on here saying NYC is the only world class city in the country, some people act like it's the only worthy city lol. Kinda like how no basketball player can compare to Jordan in many peoples eyes, or how every guitarist pretty much has to be unfairly compared to Hendrix some 40 years later lol. Basically I'm just saying wether we like it or not, that's how things are.
You have to admit though, it's crazy to compare what happened in Detroit to NYC currently. And my bigger point is things are getting more expensive around the country period. My friend is poor in NYC living a more middle class single lifestyle in NYC than he could here. You need a car here, gas is 3.80, my dad pays 400 a month for gas alone as far as car costs. My friend could find cheaper rent here but add on the cost of the car he'd actually be worse off here in Michigan lol.
When normal people from the Midwest come to NYC, maybe some of them value a certain type lifestyle different from where they came... One that isn't associated with the shows "friends" or "sex in the city." I never watched either of those lol. There are good areas of Detroit, but try visiting Detroit, Chicago, and NYC and tell me we should be content or that it's similar in terms of serving it's state as the premiere city.
No one is saying NYC doesn't have mad hubris. It has it for a reason. They were never a town that sold cars like a one-trick pony. I think housing prices are a bit inflated, but not by much considering what a richly diversified, world-class city it is. There may be a downward shift, in fact you would expect it, in years to come. But there will never be the crash of Detroit. Ever. The only people besides me who truly understand this are those who have lived, and spent substantial time in, both NYC and Detroit. We are few but we know what the hell we are talking about. The only people that remain in Detroit today are mostly functionally illeritate and living off the system. I believe that that only 50% of the population can read. Most don't work, or live off of minimum wage jobs and crime. Want to argue? Think you're so smart? Live it, day in, day out in the prime years of your life and then we'll talk. I hate you Harvard types. You are so delusional, and have had your as&es wiped for you your entire lives. And then make a big deal out of a media story. F*ck you. Your precious beach house will be safe. Eat c*ck.
What nonsense. And the $120 Billion dollars in debt you keep proclaiming is the future pension and healthcare costs. Yea, it's a lot, but considering the amount of municipal workers we have, our 70 billion dollar annual budget, and an annual GCP of more than a trillion dollars, it's not that far fetched or dire.
Ding ding ding... big numbers look really scary until you put them in context.
NYC, depite having similar bloated union entitlements that bankrupted detroit, can avoid bankruptcy buy continuing to tax the hell out of the wealthy, which we have no shortgage of as long as Wall Street exsists.
The problem with detroit is that all the rich people left, there was no one to tax the hell out of.
Everything was fine and dandy until you run out of other people's money to spend.
Reliance on finance - The largest sector in NYC in terms of number of employees is....government! It has more employees than financial services. If th financial services sector dies, there's always good ol' government to pick up the slack.
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