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The truth is unless they do something to bring commuters and tourists back. They cannot keep keep all the city and state workers without billions in bailouts. But instead of asking unions for concessions which I doubt Cuomo and DeBlasio are willing to do they will keep going after the Fed and soon they will hike taxes and fees. It'll be hard to get people back into NYC, many companies are already planning phase 2 of their permanent work from home plans in order to accommodate many workers now content on staying home rather than go back to work.
I don't think anyone who were used to mass transit chaos are willing to go back to it anytime soon and it will take years and covid19 to dissipate from the public to get people back.
IF Covid19 doesn't go away from as in staying flat all year around, then many building landlords will soon need bailouts to keep empty buildings running. Tourists venues like theaters, shops, and eateries around will be closing shop soon if Winter is just as bad as early this year they can't survive being locked down for more than 1 year.
Spot on analysis. Big fed bailout will NOT come. NY needs to right-size its budget to the new normal.
Cities and covid cannot co-exist with any sense of what we associate with cities.
Tons of families have moved out, are in the process of moving out, and will move out still - more and more schools (private) have announced remote learning, and I would not be surprised at all if NYC public schools go full remote before long. The wealthier families can easily flee, but that leaves decaying public schools for everyone else. Those that care about education will be forced to leave.
It really depends how long-lasting WFH and other Covid-related lifestyle changes will be. Sure, real estate might be more attainable for immigrants and low-income people when prices come down - but their jobs as retail workers, servers, hospitality might have disappeared.
NYC is done. This thread is correct. NYC was once a city of TRENDSETTERS and LEADERS. Home of the hardest, the baddest the people with an entrepreneurial spirit who GOT THINGS DONE. The culture created in NYC was copied all over the world. These days are over now. Instead of NYC hip hop we have NYC kids copying wack west coast gang culture and mediocre Midwest gangs. Then you have NYC kids copying weak victim culture, this is not NYC. Instead of the dopest pizza we have bland fried chain foods. The lame centralized American culture invaded and took over. It's all gone wrong and become untenable. The accent is dead.
Instead of strong NYC mayors with a NYC flavor and NYC smarts you have a boiled dinner boston b*tch as your leader. That Red Sox fan does not love NYC, has no sense of patrimony for NYC. All the things that were unique and exciting have ended, you have boring TV country sports while our true hometown sports like handball languishes.
For a clue to what is happening in NYC look to Rome. A cultural decline is something to see but hard to measure. What you can measure is a population decline. Along with the NYC's cultural decline look for NYC to repeat the Rome's population decline. Rome's population declined from 1.2 million to 30,000 between the 2nd to 6th centuries. We are now at the "top of decent"
NYC is done. This thread is correct. NYC was once a city of TRENDSETTERS and LEADERS. Home of the hardest, the baddest the people with an entrepreneurial spirit who GOT THINGS DONE. The culture created in NYC was copied all over the world. These days are over now. Instead of NYC hip hop we have NYC kids copying wack west coast gang culture and mediocre Midwest gangs. Then you have NYC kids copying weak victim culture, this is not NYC. Instead of the dopest pizza we have bland fried chain foods. The lame centralized American culture invaded and took over. It's all gone wrong and become untenable. The accent is dead.
Instead of strong NYC mayors with a NYC flavor and NYC smarts you have a boiled dinner boston b*tch as your leader. That Red Sox fan does not love NYC, has no sense of patrimony for NYC. All the things that were unique and exciting have ended, you have boring TV country sports while our true hometown sports like handball languishes.
For a clue to what is happening in NYC look to Rome. A cultural decline is something to see but hard to measure. What you can measure is a population decline. Along with the NYC's cultural decline look for NYC to repeat the Rome's population decline. Rome's population declined from 1.2 million to 30,000 between the 2nd to 6th centuries. We are now at the "top of decent"
Somebody just made a thread
CEO of 1,000 seat Bryant Park Grill states he will NEVER open another NY restaurant
NY Times Retail Chains Abandon Manhattan: ‘It’s Unsustainable’
Some national chains, both retail and restaurants, are closing outlets in New York City, which are struggling more than their branches elsewhere.
In the heart of Manhattan, national chains including J.C. Penney, Kate Spade, Subway and Le Pain Quotidien have shuttered branches for good. Many other large brands, like Victoria’s Secret and the Gap, have kept their high-profile locations closed in Manhattan, while reopening in other states.
Some popular chains, like Shake Shack and Chipotle, report that their stores in New York were performing worse than others elsewhere, investment analysts said. A few dozen Subway locations have closed in New York City in recent months. Le Pain Quotidien has permanently closed several of its 27 stores in the city and plans to leave others closed until more people return to the streets, said Andrew Stern, co-chief executive of the chain’s parent, Aurify Brands.
A Gap Store near Rockefeller Center has stayed closed and has not paid its $264,000 monthly rent. Two T.G.I. Friday’s in prime locations, one near Rockefeller Center and another in Times Square, have remained closed while its restaurants elsewhere in the country have reopened.
national chains including J.C. Penney, Kate Spade, Subway and Le Pain Quotidien have shuttered branches for good. Many other large brands, like Victoria’s Secret and the Gap, have kept their high-profile locations closed in Manhattan, while reopening in other states.
So maybe those ridiculous commercial rents will drop. And when tourists start to come back to Manhattan, some lucky enterpreneurs will be able to score very good locations they wouldn't have been able to afford otherwise. I hope. I'm still seeing signs of hope, but it seems to be a very close thing. If nothing disastrous happens in the next year and the next mayor is a good one, NYC will be fine. One or two more "surprises" like riots or a bad hurricane, and the city might well be finished. And that's just the big picture, the city as a whole. The small picture is, I think a lot of people are never going to get back on their feet. Lots of quiet desperation going on. A couple of times now, I've seen people on the street that look homeless - but not the usual homeless. They looked completely lost, like someone just kicked them out of their home, and they have no clue where to go or how to survive on the street. Awful.
While part of me is enjoying watching my city, which betrayed natives from the boroughs like me, nosedive into oblivion so we can course correct things like rent and maybe cost of living, my concern is unlike the gritty, dangerous days of the 80s, when NYC was full of charm and character as well, this downturn will just include the dangerous part with no charm or character.
Why? The real NYers have left the building long ago or have died. Having transients and billionaires exit will just leave junkies,homeless, poor people and 3rd world illegal aliens behind with a bunch of empty, downtrodden stores, office buildings and streets.
There won't be any cool ass night clubs, museums, graffiti, break dancing, hip hopping, punk rocking super creative interesting things left behind to make it worth staying!
While part of me is enjoying watching my city, which betrayed natives from the boroughs like me, nosedive into oblivion so we can course correct things like rent and maybe cost of living, my concern is unlike the gritty, dangerous days of the 80s, when NYC was full of charm and character as well, this downturn will just include the dangerous part with no charm or character.
Betrayed? You just needed to earn more money.
Quote:
Originally Posted by QueensGuy72
Why? The real NYers have left the building long ago or have died. Having transients and billionaires exit will just leave junkies,homeless, poor people and 3rd world illegal aliens behind with a bunch of empty, downtrodden stores, office buildings and streets.
There won't be any cool ass night clubs, museums, graffiti, break dancing, hip hopping, punk rocking super creative interesting things left behind to make it worth staying!
Your fearless leader Rudy Giuliani got rid of all of the bolded to make it safe for the transplants and fake natives. The population of NYC rose by over a million people between 1990 and 2010 and all the mayors who were in charge at that time did not come up with a plan for accomodation. So this is what you get.
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"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
Problem is, commercial rent prices are not going to drop as quickly as needed. Landlords are probably holding tight, hoping for a rebound, especially if they have high mortgages to pay.
Everyone will be waiting for the guy ahead of them to give. By the time everything rebalances, it will be too late.
If big companies and businesses choose other cities as their bases, NY would be done. The new grads are going to go where the jobs are. And families will either have to shell out for private school or go elsewhere.
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Look to Rome
