“The ‘doom loop’ scenario is overblown,” Richard McGahey, an economist and author of Unequal Cities, said in an interview. He also addressed the issue in aHe noted that New York has faced tough economic challenges before and bounced back. Look no further than the 9/11 attacks. He said that Lower Manhattan has seen substantial residential growth in the last two decades, after being written off by some.
Already, though, an intertwined debate over crime, urban decay and homelessness has had political consequences, with Republicans in big blue New York and California both, helping to flip the House of Representatives in the GOP's favor. In both states, Republicans focused on crime and street homelessness, particularly in Democrat-controlled cities, including New York City and Los Angeles.
Since taking office in January, Mayor Eric Adams has launched a series of initiatives aimed at moving homeless people out of public spaces, including dismantling their encampments.
Unsheltered homelessness, even in places where it's decreased statistically, has in some cases just become more physically visible because there are now vacant storefronts. There are vacant seats on transit.But fairly or not, City Comptroller Brad Lander said, perceptions had the potential to drive the city’s economic outlook.
The subsequent impact on the city’s budget would be profound, they noted, given that “the share of real estate taxes in NYC’s budget was 53% in 2020, 24% of which comes from office and retail property taxes.”
It's happening. Census: New York lost more people in 2022 than any other state Red states Texas, Florida crush blue New York, California and Illinois when it comes to 2022 population growth Taxpayers are abandoning our state.
NYC population continues to grow.
There is an adjustment to be made.indeed. Those that can work from home efficiently will continue to do so. We get more done. Period. At least for the near future. But don’t worry, there are the new college students who are eager to get hands on experience in the office space.
I’m sure some shell corporations would love to rent out those new “condos” that are now widely available in midtown
We can't live in New York anymore and the exodus is real as you can see here. Everyone is adapting to remote work but Mayor Adam's who has municipal employees who already don't make large salaries in offices as hostages, while the private sector has adapted.
So you guys are just figuring out that you priced out your worker class? LMAO
If it means cheaper housing, they can stay where they went. Make room for the real locals
New norm. Convert to housing, which is limited
If they're no longer spending some of their NYC paychecks in one of the most expensive cities in the world then their pay should be scaled to where they actually live in suburban/rural America.
Why does the answer have to be people returning to the office/commuting? Why can’t we have a little more imagination about transforming these spaces?
NEVER
Don't forget people leaving the city and taking their tax revenue with them or spend heavy tourist staying away too. it seems so simple to start by addressing crime by any means possible...
The way those neighborhoods would thrive if some of those buildings were converted to affordable apts...
And wait until it gets worse once congestion pricing is implemented. That should be scrapped.
Lmao am I supposed to feel bad for a place where corporations get insane tax breaks from the government and landlord have zero regulations from charging astronomical rent prices?
Red states Texas, Florida crush blue New York, California and Illinois when it comes to 2022 population growth Census: New York lost more people than any other state Who's leaving? People with money. doomloop
It's not my job to waste 3 hours a day plus hundreds a month commuting to a workplace when I can do the same thing from home. Now, if they want to make the 3 hours part of my workday, we can compromise.
Might help if Midtown sucked less.
zoning problem