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The city won't go back to the 70s. People want to live here. Most people I know who left the city did so because they couldn't afford it. Real estate will suffer but NYC will do just fine. Energy prices, etc. have made people increasingly want to live in the city.
I think luckily Bloomberg has managed the budget fairly well and planned for this. Under another Mayor, perhaps one with less financial know-how, the city would be in a much worse situation.
The current situation makes me re-think my stand on term limits. I'm for the limits but I feel pretty confident with Bloomberg handling the local economy whereas the other possible candidates I have no confidence in.
Meanwhile, over on the national front, McCain is saying the American economy is "fundamentally strong,"
Did you see the article in yesterday's AM New York regarding Bloomberg having given away millions of dollars in corporate tax breaks where those tax breaks were just giveaways and had no part in keeping these corporations in NY? Those giveaways increased under his administration despite his campaign promise to do away with them. Can I get a tax break here too or is that just for corporations??
I think Bloomberg's biggest accomplishment, and I am not being sarcastic here, are his efforts to "green" the city with 13,500 (or so) trees planted or to be planted. Anyone notice how much more beautiful and green our city is with the added trees? I've seen new trees on Houston Street (which never had trees in the middle of the Ave) and tons of new trees on the Henry Hudson. It makes for cleaner air and a cooler city (temperature wise), plus they're pretty!
The city won't go back to the 70s. People want to live here. Most people I know who left the city did so because they couldn't afford it. Real estate will suffer but NYC will do just fine. Energy prices, etc. have made people increasingly want to live in the city.
The 70's were notorious for people moving OUT of cities. ALL cities in America were losing residents to the new suburbs. That is no longer the case as the trend, especially because of high energy costs, is actually to live IN the city. I dont see the mass exodus either.
Wow! I'm a packing my gears and heading out West. Oh, but then there's earthquakes out there. Well, I'm a heading to Texas. Darned - there's hurricanes there, and tornados in the Midwest.
Guess I'll just stock up on water, milk, bread, arm myself with that stiletto.
Did you see the article in yesterday's AM New York regarding Bloomberg having given away millions of dollars in corporate tax breaks where those tax breaks were just giveaways and had no part in keeping these corporations in NY? Those giveaways increased under his administration despite his campaign promise to do away with them. Can I get a tax break here too or is that just for corporations??
I think Bloomberg's biggest accomplishment, and I am not being sarcastic here, are his efforts to "green" the city with 13,500 (or so) trees planted or to be planted. Anyone notice how much more beautiful and green our city is with the added trees? I've seen new trees on Houston Street (which never had trees in the middle of the Ave) and tons of new trees on the Henry Hudson. It makes for cleaner air and a cooler city (temperature wise), plus they're pretty!
They are going to plant a lot more than 13,500 over time.
Check this out New York Restoration Project | Greening / Sustainablilitiy Initiatives (http://www.nyrp.org/greening/index.php?sub=0 - broken link)
I think luckily Bloomberg has managed the budget fairly well and planned for this. Under another Mayor, perhaps one with less financial know-how, the city would be in a much worse situation.
The current situation makes me re-think my stand on term limits. I'm for the limits but I feel pretty confident with Bloomberg handling the local economy whereas the other possible candidates I have no confidence in.
Meanwhile, over on the national front, McCain is saying the American economy is "fundamentally strong,"
I would normally agree with your statement, but the look on Bloomberg's face at the press conference proved that NYC's economy will be going into the toilet very soon. The governor talked about this just a few weeks ago. He said if things weren't done to correct financial problems the city would be headed to Depression era problems.
He's right.
I moved from NYC to LA five years ago and the RECESSION WAS HERE when I arrived. Trying to find a DECENT paying job or even temp has been next to impossible. I'm working two retail jobs to make ends meet and right now I'm very happy I made that move, even though I would have preferred office work.
I was going to move back NYC in a couple of months to make some REAL money, but now with this horrible news I might as well as stay here.
Better to deal with the recession you DO KNOW, than the one you don't.
Yeah, NYC usually rises from the ashes, but not THIS time. Not for a VERY LONG TIME. The city will finally experience what the rest of the country has been going through for YEARS - true financial hardship.
America has lost everything. The reason why China and India is rising is because they sent nearly all of OUR jobs to them. There is no manufacturing sector. Many of our ports, utility companies, bridges and landmarks have been sold off to foreign interests.
I would normally agree with your statement, but the look on Bloomberg's face at the press conference proved that NYC's economy will be going into the toilet very soon. The governor talked about this just a few weeks ago. He said if things weren't done to correct financial problems the city would be headed to Depression era problems.
He's right.
I moved from NYC to LA five years ago and the RECESSION WAS HERE when I arrived. Trying to find a DECENT paying job or even temp has been next to impossible. I'm working two retail jobs to make ends meet and right now I'm very happy I made that move, even though I would have preferred office work.
I was going to move back NYC in a couple of months to make some REAL money, but now with this horrible news I might as well as stay here.
Better to deal with the recession you DO KNOW, than the one you don't.
Yeah, NYC usually rises from the ashes, but not THIS time. Not for a VERY LONG TIME. The city will finally experience what the rest of the country has been going through for YEARS - true financial hardship.
America has lost everything. The reason why China and India is rising is because they sent nearly all of OUR jobs to them. There is no manufacturing sector. Many of our ports, utility companies, bridges and landmarks have been sold off to foreign interests.
Don't you think you're exaggerating a little bit? Everyone's known the city was going to be in a recession for some time, and some people have been saying that it already was. As for not recovering for a very long time.. come on.. it was just a few problems, it's not like every single company crashed at a synchronized time, leaving everyone in the streets because they have nothing left. No, it's not good.. but it hasn't become that serious yet, and I'm sure it will be fine in just a little bit.
And I was hoping apartments on the UES might become cheaper...
Seriously though, I do hope and pray that those Wall Street people just starting out with new families do not have to suffer, or at least knew enough to plan ahead for difficult times.
Don't you think you're exaggerating a little bit? Everyone's known the city was going to be in a recession for some time, and some people have been saying that it already was. As for not recovering for a very long time.. come on.. it was just a few problems, it's not like every single company crashed at a synchronized time, leaving everyone in the streets because they have nothing left. No, it's not good.. but it hasn't become that serious yet, and I'm sure it will be fine in just a little bit.
No, I'm not exaggerating and time will prove what I'm saying is correct.
You honestly don't know the full ramifications of what these companies have done to get themselves in this mess do you? Do a search on google regarding Lehman, Bear Stearns, Merrill and WAMU. These companies did a whole bunch of financial wrangling that made absolutely no sense! The fact they even got away with it without the SEC saying anything seriously boggles my mind.
Unlike others who want to keep their heads in the sand and pretend "it's not that bad" I readily accept the truth. Bloomberg wasn't having emergency meetings for nothing.
Honestly, I would LOVE to be wrong. Really, I would. But it was just a matter of time for this to happen to NYC. It's been happening in the rest of the country for YEARS. The midwest is dead. Don't know how the south stays afloat and California has the highest unemployment in the nation.
Real estate prices declining will happen. New York is not immune.
But the city won't revert back to 70s in terms of violence,etc.
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