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Old 07-20-2013, 08:29 PM
 
20 posts, read 19,206 times
Reputation: 18

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Have you made contingencies. I plan on selling as quick I can, making my next project after I sell and get an apt to find a job in a sustainable second tier city that will be less affected by the national (global?) housing collapse and then

HFTB

HOPE

FOR

THE

BEST!

You?
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Old 07-20-2013, 08:41 PM
 
Location: Bronx
15,016 posts, read 17,580,309 times
Reputation: 7582
Quote:
Originally Posted by Glynn's Ghost View Post
Have you made contingencies. I plan on selling as quick I can, making my next project after I sell and get an apt to find a job in a sustainable second tier city that will be less affected by the national (global?) housing collapse and then

HFTB

HOPE

FOR

THE

BEST!

You?
I have to say that NYC will probably be in economic hot water in another generation or so, just hope that the wealthy can give back wealth back to the people of this nation and city so that a new middle class can rise from the ashes in order to create a solid tax base. If I'm not mistaken I read and heard some where that NYC has incurred about 120 billion dollars in debt. I just hope that Uncle Sam can bail out all five boroughs like it did with Wall Street. Not only that but gentrification cant even save NYC from financial ruin. The City is approaching fiscal cliff from what I remember.

Bloomberg’s Legacy: Doubling New York’s Debt | Via Meadia

The Truce That Could Save American Cities | Newgeography.com
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Old 07-20-2013, 09:12 PM
 
1,745 posts, read 2,045,156 times
Reputation: 3678
This is laughable, for someone who was BORN in Detroit, lived there for 25+ years before moving to NYC. You talk about me being an outsider to NYC. Fair enough. Well, you are also an outsider of Detroit. You will NEVER understand it, so don't try. This was a one-industry town that went global. NYC is diversified and much, MUCH more educated. Do not even attempt to compare it. NYC will be just fine in the future. It has a revenue base, Detroit does not. The wealth moved to the suburbs long ago. No one in their right mind lives anywhere NEAR Detroit, with the exception of a minor (and growing) yuppie base that is there for tax breaks from corporations like Quicken Loans. A very small, very quiet minority. There is wealth in both the the city and suburbs in NYC. It is a completely different scenario. Detroit/Metro Detroit is unlike any other place in the country in that the wealth is far, far outside of the city. The only reason anyone gives a sh(t is because this made national news. You will be just fine. I can think of a hundred towns that would go down before New York. You guys should be more grateful, you don't know what true suffering is. Even you in the ghetto. Your ghettos are 1000 times better than those in Detroit. You look soft by comparison because of your money base. I laugh when I walk the streets of Bed-Stuy. You are a bunch of rich p*ssies who never saw true pain, at least not in these recent years. Y'all don't know what true hell is.

Last edited by EastBoundandDownChick; 07-20-2013 at 09:26 PM..
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Old 07-20-2013, 09:17 PM
 
20 posts, read 19,206 times
Reputation: 18
Quote:
Originally Posted by EastBoundandDownChick View Post
This is laughable, for someone who was BORN in Detroit, lived there for 25+ years before moving to NYC. You talk about me being an outsider to NYC. Fair enough. Well, you are also an outsider of Detroit. You will NEVER understand it, so don't try. This was a one-industry town that went global. NYC is diversified and much, MUCH more educated. Do not even attempt to compare it.
My training as an economist demands that I compare the two, and leads me to conclude that there is more similarity than meets the eye, and that the future of the latter may be even more catastrophic than the present of the former. What they share is hubris, on the part of their leading industries.
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Old 07-20-2013, 09:22 PM
 
3,354 posts, read 3,158,312 times
Reputation: 2361
The increased hurricanes in NYC area is a bad omen for the future of NYC.

When the nature superpower picks on an area, the repair costs and the psychological effects it imposes on nyc is too much too handle.
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Old 07-20-2013, 09:27 PM
 
853 posts, read 818,469 times
Reputation: 1264
I don't think you understand why Detroit collapsed and why NY is so economically strong right now. I'm not gonna bother explaining everything to you but I will leave this piece of information, NYC faired a lot a better than the rest of the country in the housing crash of 08. Second tier cities? They didn't hold up too well. The southwest is still wallowing in the effects of the housing crash.
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Old 07-20-2013, 09:31 PM
 
Location: Bronx
15,016 posts, read 17,580,309 times
Reputation: 7582
Quote:
Originally Posted by EastBoundandDownChick View Post
This is laughable, for someone who was BORN in Detroit, lived there for 25+ years before moving to NYC. You talk about me being an outsider to NYC. Fair enough. Well, you are also an outsider of Detroit. You will NEVER understand it, so don't try. This was a one-industry town that went global. NYC is diversified and much, MUCH more educated. Do not even attempt to compare it. NYC will be just fine in the future. It has a revenue base, Detroit does not. The wealth moved to the suburbs long ago. No one in their right mind lives anywhere NEAR Detroit, with the exception of a minor (and growing) yuppie base that is there for tax breaks from corporations like Quicken Loans. A very small, very quiet minority. There is wealth in both the the city and suburbs in NYC. It is a completely different scenario. Detroit/Metro Detroit is unlike any other place in the country in that the wealth is far, far outside of the city. The only reason anyone gives a sh(t is because this made national news. You will be just fine. I can think of a hundred towns that would go down before New York. You guys should be more grateful, you don't know what true suffering is. Even you in the ghetto. Your ghettos are 1000 times better than those in Detroit. You look soft by comparison because of your money base. I laugh when I walk the streets of Bed-Stuy. You are a bunch of rich p*ssies who never saw true pain, at least not in these recent years. Y'all don't know what true hell is.
NYC almosg went bankrupt in the late 70s. President Gerald Ford told NYC to drop dead. In other news more Michigan residents want to leave their state.
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Old 07-20-2013, 09:32 PM
 
10,085 posts, read 7,805,948 times
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Way too many variables going on to be able to predict the future of this city, even for a trained economist, especially one that has not provided any empirical evidence.
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Old 07-20-2013, 09:39 PM
 
1,745 posts, read 2,045,156 times
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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.

Last edited by EastBoundandDownChick; 07-20-2013 at 09:50 PM..
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Old 07-20-2013, 09:39 PM
 
23,352 posts, read 16,259,066 times
Reputation: 8606
Quote:
Originally Posted by leoliu View Post
The increased hurricanes in NYC area is a bad omen for the future of NYC.

When the nature superpower picks on an area, the repair costs and the psychological effects it imposes on nyc is too much too handle.
Hurricanes are fueled by heat, and its been a terribly hot summer so far. A Katrina strength hurricane alone would FINISH NYC for quite some time, as you would have population fleeing. 3 Million out of 8 million NYC's live in an expanded evacuation zone.
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