Thursday, March 12, 2009

Who's right about City's economy?

From Crain's:

New York City's economic downturn will be "deep and protracted." That's the forecast from the Independent Budget Office.

The director of the agency told the City Council during budget hearings on Monday that the city's economic recovery will likely lag the nation's.

From GlobeSt:

Mayor Michael Bloomberg sounded an upbeat note at BOMA/NY’s Energy Action Day seminar Tuesday, saying that amid a challenging economy, the city remains "a magnet" for individuals and companies and will rebound more quickly than other markets.


LIno said...

Bloombag -should- be optimistic, after all -his- personal wealth increased by several billion last year.

Anonymous said...


Ride (I love it) "BLOOM-BAG"
out of town!

Anonymous said...

New York has always done better during the good times and worse during the bad. The fiscal crisis didn't drive out my parents and it won't drive me out. More dangerous is the high cost of living here.

Anonymous said...

That's true....last poster.

I bought my house in a great Queens nabe for $66 ,000 in 1978 when every one else was skipping town to Long Island.

It's now worth $800,000
while those who fled NYC to LI
wished they hadn't left "the city".

Their homes values are falling while their taxes are rising.

You've got to learn to recognize TRUE VALUE and NYC has it over the long haul.

I was born and bred in NYC and I ain't leaving it!

italian girl said...

"You've got to learn to recognize TRUE VALUE and NYC has it over the long haul."

Absolutely! All of my friends and family left for Long Island and bought these gigantic houses in the boonies. For what? To pay ridiculously high taxes, pay more to commute into the city, waste more time commuting back and forth, and more house always equals more work.
I have always thought Long Island(especially the highly desired North Shore) was so overrated. And now you're going to see prices over there plummet more than the city because those homes were never worth that big money in the first place.

faster340 said...

Who cares who is right or wrong! Let's just fix it!

Anonymous said...

1) Who really believes mayor Doomberg anymore? 2) Italian girl...Parts of the North Shore are really beautiful...I guess we'd have to agree to disagree...LOL

faster340 said...

"2) Italian girl...Parts of the North Shore are really beautiful...I guess we'd have to agree to disagree"

The "Gold Coast" is beautiful. I grew up in Huntington so I used to ride my bike all up and down 25A through all those little incorporated villages/hamlets and such and they are really nice so I have agree with the last poster...

Queens Crapper said...

I like going to Caumsett State Park. And walk around Huntington and see all the Victorian houses. It's a great day trip.

italian girl said...

I didn't say it wasn't beautiful. I just think it's really not worth leaving where I live for that area. If I had some extra money, I would head for Bayside Gables, Malba or Douglas Manor. You can get an awesome house and still have the convenience of living in the city and not have to pay $18,000 in property taxes.

Anonymous said...

I like to live in Astoria and hit all of the parks on the Gold Coast. I particularly recommend Planting Fields Arboretum, Caumsett State Park, and on the South Shore--Bayard Cutting.

Why do you have to live on the Island to enjoy the Island?