4 ms·

> NYC is currently a boom town, - The subway is crumbling with no tangible realistic plan to fix it. - Housing crisis is getting worse. New York is consisten

by jimmy1 8y ago

> NYC is currently a boom town, - The subway is crumbling with no tangible realistic plan to fix it. - Housing crisis is getting worse. New York is consistently at the top, or near the top of the "losing residents to other cities" list. NYPost recently reported on "The Exodus of New York's middle class" - With some of the highest taxes in the country, Cuomo recently stated NY lost 2.3 billion in tax revenue, with NYC alone losing 1 billion of that, and now there is a looming showdown on the state budget coming up. Area corporations are seeking relocation to cheaper tax areas. As they say, "Every day is tax day in NYC"

wrsh07 8y ago
This is a little ridiculous. 1) Subway: yes, it needs major infrastructure investments. It isn't crumbling - isn't that a little melodramatic? 2) I call BS. Housing prices in most neighborhoods in NYC have deceased over the past year: https://www.businessinsider.com/nyc-housing-asking-sale-prices-cut-at-pace-unseen-since-financial-crisis-streeteasy-2018-9 https://www.businessinsider.com/nyc-housing-asking-sale-pric... 3) and yet, major tech companies are interested in starting or expanding their presence (exhibit Amazon, exhibit https://www.washingtonpost.com/technology/2018/12/17/google-announces-billion-expansion-new-york-city/ https://www.washingtonpost.com/technology/2018/12/17/google-...)
- jimmy1 8y ago
  It's only ridiculous if you view NYC through some rose tinted glasses, most the rest of the country are staying away Responding to your points. 1.) Most online rags and news reports describe it as "crumbling" so these aren't my words. I have no interest in being melodramatic, I'm merely relaying the portrait painted by most people reporting on the subway. https://www.vice.com/en_us/article/gyk9m3/borough-hall-nyc-subway-ceiling-collapse-vgtrn https://www.vice.com/en_us/article/gyk9m3/borough-hall-nyc-s... https://www.vice.com/en_us/article/vbmmym/the-history-behind-new-york-citys-crumbling-subway https://www.vice.com/en_us/article/vbmmym/the-history-behind... https://www.businessinsider.com/a-marijuana-tax-could-help-fix-new-yorks-crumbling-subway-system-2018-12 https://www.businessinsider.com/a-marijuana-tax-could-help-f... https://www.theguardian.com/us-news/2018/nov/20/new-york-city-subway-bus-death-spiral-mta-fares https://www.theguardian.com/us-news/2018/nov/20/new-york-cit... 2. You call BS. I call that article proving my point. You are having a market correction due to the mass exodus. 3. Name other major tech companies besides Amazon which hosed over the city and held them hostage for sweet heart deal? I don't know one person that has said "oh I know, I'll move to NYC for a tech job" San Fransisco maybe. Austin? Definitely. I just don't know how you can paint a billion dollar loss in tax revenue (2.3 billion state wide), and falling housing prices due to decrease in demand as a "boom" The mere fact that NYC bent over backwards so far to attract Amazon is actually telling to me.
  - wrsh07 8y ago
    Sorry,I didn't see this until now. Thanks for the response! I had misread your second point, thinking "housing crisis" was about prices being too high. For tech companies: a huge number of major tech cos have offices in NYC. Most of them even have engineering offices. The ones that come to mind are Facebook, Google, Uber, Microsoft, eBay, Etsy, palantir, AppNexus, and yes, Amazon has offices here already. I don't have any insight into the tax revenue issue, and I suspect that may be worse this year with the federal tax cuts. (I think there is some state-tax interaction, but I may be misremembering or misunderstanding)

by jimmy1 8y ago

wrsh07 8y ago

This is a little ridiculous. 1) Subway: yes, it needs major infrastructure investments. It isn't crumbling - isn't that a little melodramatic? 2) I call BS. Housing prices in most neighborhoods in NYC have deceased over the past year: https://www.businessinsider.com/nyc-housing-asking-sale-prices-cut-at-pace-unseen-since-financial-crisis-streeteasy-2018-9 https://www.businessinsider.com/nyc-housing-asking-sale-pric... 3) and yet, major tech companies are interested in starting or expanding their presence (exhibit Amazon, exhibit https://www.washingtonpost.com/technology/2018/12/17/google-announces-billion-expansion-new-york-city/ https://www.washingtonpost.com/technology/2018/12/17/google-...)

jimmy1 8y ago
It's only ridiculous if you view NYC through some rose tinted glasses, most the rest of the country are staying away Responding to your points. 1.) Most online rags and news reports describe it as "crumbling" so these aren't my words. I have no interest in being melodramatic, I'm merely relaying the portrait painted by most people reporting on the subway. https://www.vice.com/en_us/article/gyk9m3/borough-hall-nyc-subway-ceiling-collapse-vgtrn https://www.vice.com/en_us/article/gyk9m3/borough-hall-nyc-s... https://www.vice.com/en_us/article/vbmmym/the-history-behind-new-york-citys-crumbling-subway https://www.vice.com/en_us/article/vbmmym/the-history-behind... https://www.businessinsider.com/a-marijuana-tax-could-help-fix-new-yorks-crumbling-subway-system-2018-12 https://www.businessinsider.com/a-marijuana-tax-could-help-f... https://www.theguardian.com/us-news/2018/nov/20/new-york-city-subway-bus-death-spiral-mta-fares https://www.theguardian.com/us-news/2018/nov/20/new-york-cit... 2. You call BS. I call that article proving my point. You are having a market correction due to the mass exodus. 3. Name other major tech companies besides Amazon which hosed over the city and held them hostage for sweet heart deal? I don't know one person that has said "oh I know, I'll move to NYC for a tech job" San Fransisco maybe. Austin? Definitely. I just don't know how you can paint a billion dollar loss in tax revenue (2.3 billion state wide), and falling housing prices due to decrease in demand as a "boom" The mere fact that NYC bent over backwards so far to attract Amazon is actually telling to me.
- wrsh07 8y ago
  Sorry,I didn't see this until now. Thanks for the response! I had misread your second point, thinking "housing crisis" was about prices being too high. For tech companies: a huge number of major tech cos have offices in NYC. Most of them even have engineering offices. The ones that come to mind are Facebook, Google, Uber, Microsoft, eBay, Etsy, palantir, AppNexus, and yes, Amazon has offices here already. I don't have any insight into the tax revenue issue, and I suspect that may be worse this year with the federal tax cuts. (I think there is some state-tax interaction, but I may be misremembering or misunderstanding)