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NYC slipping further - DrTorch - 02-06-2013 12:35 PM
Love it when Dems are honest. Mead's conclusion here is quite entertaining.
http://blogs.the-american-interest.com/wrm/2013/02/04/new-york-no-longer-skyscraper-king/
Quote:In perhaps an ominous sign for its economy, New York City has fallen behind both Mexico City and Toronto in new office space construction planned for 2014, Bloomberg reports. Whether you like the look of jagged city skylines or not, plans for new skyscrapers in a city’s downtown area are usually a sign that times are booming:
Commercial real estate prices have been rising in Toronto as companies tap an urban workforce living among the 51 condominiums that have been built since 2009. The city, home to the country’s five biggest lenders, which control about 80 percent of the nation’s bank assets, has more high rises under construction than any other metropolis in the world. . . .
Last year was a record for commercial sales transactions in Toronto. Investment in office, retail, and industrial properties reached C$13 billion, up 73 percent from 2009, according to RealNet data. About a third of that was office space. Total transactions were about 2,000 while the number of sales worth more than C$100 million reached a record 14 deals.
But those worried about the future of what George Washington once called the “seat of empire” should take heart. New York has a plan: more regulations, more taxes, more spending, raising the minimum wage, and raising transit prices. And we’re already seeing the results: a vanishing middle class, mass exodus of businesses, and an unhealthy dependency on a rickety financial industry.
Sounds like a recipe for success.
RE: NYC slipping further - RobertN - 02-06-2013 12:51 PM
Wow. THe economy isn't booming. Shocking! Chicago is going to get it's first new skyscraper in something like 5 years. OMG!
RE: NYC slipping further - Lord Stanley - 02-06-2013 12:58 PM
...... and what property there is, is being bought up by Russian crooks, Greek tax-dodgers and Arabs escaping their summer or, more likely their Spring.
RE: NYC slipping further - Brookes Owl - 02-06-2013 01:06 PM
No surprise here. One of my Manhattan-based clients (they're huge) just moved to Jersey City.
RE: NYC slipping further - Lord Stanley - 02-06-2013 01:11 PM
I have a friend who lives in Manhattan.
She likes it because she is very cosmopolitan and single, but she jokes that she can cook breakfast from her shower, because, well, her shower still is located next to the stove, both of which are 6 ft from her bed.
Not a lifestyle for me, thanks.
RE: NYC slipping further - HuskieFan84 - 02-06-2013 04:24 PM
DrT is this your way of letting us know you universal health care?
I would have thought you'd be disgusted by any article suggesting Toronto's way of doing things is the right way.
RE: NYC slipping further - smn1256 - 02-06-2013 04:29 PM
(02-06-2013 04:24 PM)HuskieFan84 Wrote: DrT is this your way of letting us know you universal health care?
I would have thought you'd be disgusted by any article suggesting Toronto's way of doing things is the right way.
How did you shoehorn in universal healthcare into an article about real estate?
RE: NYC slipping further - DrTorch - 02-06-2013 05:02 PM
(02-06-2013 04:24 PM)HuskieFan84 Wrote: DrT is this your way of letting us know you universal health care?
You can't even write in english. That's why I scoff at you.