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Wahoo0408

Joined: 04/17/2019 Posts: 258
Likes: 341


NYC should be a little bit concerned.


Many of those buildings are financed with debt that requires high rents to pay the mortgages. The demand will still be there once the lockdowns are over, but I worry that crime is going to be a major problem. Even five years ago, you could really see and feel the cracks starting to form. The current model as a playground for the wealthy won't work if criminals are allowed to take over the way they did during the 60s-80s.

NYC is a special place and has attributes that cannot be recreated anywhere. I'm far from writing the city off, but a combination of taxes and crime could do significant damage. The world is a lot smaller and more mobile that it used to be, which could make bouncing back harder.

I hope NYC cleans itself up because I've spent a lot of time there and am quite partial to it.
[Post edited by Wahoo0408 at 04/08/2021 1:51PM]

(In response to this post by farragut)

Posted: 04/08/2021 at 12:00PM



+5

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Current Thread:
 
  
Some data charting the recovery -- farragut 04/08/2021 10:42AM
  NYC should be a little bit concerned. -- Wahoo0408 04/08/2021 12:00PM
  Wonder if Bloomberg would come back as mayor? ** -- Hoogle.com 04/08/2021 4:46PM
  Cant have people back into the offices -- Zhoo 04/08/2021 1:06PM
  Today is a big day for your username ** -- HburgCav 04/08/2021 12:15PM
  Indeed it is! ** -- Wahoo0408 04/08/2021 1:14PM
  Very interesting data... thanks for sharing -- uva25 04/08/2021 11:10AM
  In general, -- farragut 04/08/2021 11:42AM
  I wonder what caused the February 2021 dips. -- HOOfan_1 04/08/2021 10:55AM
  Major snow event? ** -- chicken 04/08/2021 12:00PM
  Looks like NYC has a problem ** -- Hoogle.com 04/08/2021 10:54AM
  Wow ** -- 007 Hoo 04/08/2021 10:48AM

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