New York City, After the Boom
After an extraordinary era of construction and renovation, demolition and replacement, there will almost certainly come a long period in which little to nothing gets built…We have inherited, from the good years, a glut of housing, almost all of it of the unaffordable kind—condos galore—and an increase in office space amid a sudden, steep decrease…
I was on the subway the other day, and I overheard a conversation about a couple who were leaving the city for Austin, TX. I would have thought nothing of it, but then 10 minutes later, I learned a friend of a friend (in finance) was leaving because his company restructured to New Jersey to save costs.
Are we a growing or shrinking city? A few years ago, it seemed like everyone was moving into the city. But I don’t hear so much chatter any more. Only anecdotal of course, I bet soon the NYT will have some article that investigates whether people are leaving or moving to NYC.
i personally love the image of new york as a city of half finished luxury condos full of the homeless squatters surronding bins of burning construction debris to keep warm
There maybe a demand but no supply of money Dumbasses! Just clap you asscheack and chant “These is no place like 2005” ROTMFFLMMFAO!!!!!
RIP Mutant Asset Bubble, GAME OVER!!
Oh BTW I’m loving it!!!
The What
Someday this war is gonna end…