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> The Shanghai metro system, with its 12 lines, is now the most extensive in the world, yet its first line opened only in 1993. Four new lines are under constru
by dqpb 8y ago
> The Shanghai metro system, with its 12 lines, is now the most extensive in the world, yet its first line opened only in 1993. Four new lines are under construction and five existing lines are being extended.
Meanwhile, New York is letting their metro system crumble to the ground.
- kingkawn 8y agoA severe economic downturn for nyc because of infrastructure weakness and a pop in the housing market speculative investment bubble is on its way
- ReptileMan 8y agoToo much dirty money from all around the world are looking for a parking spot. Don't count on it.
- kingkawn 8y agoThey’re coming to nyc because of perceived economic forces that will hold the city’s housing prices up as a high return investment. With the infrastructure actively failing before our eyes the calculus about the city seems certain to change as its reputation and quality of life plunges. Also the cultural forces celebrating urban spaces that created the beliefs underlying this many decade boom have long ago exhausted themselves, at least in relation to nyc. I have lived here a large portion of my life and feel near certain that the speculative winds are shifting elsewhere.
- Theodores 8y agoYe of no faith! Faith in capitalism. London was at the point you describe two decades ago with bottlenecks of transport, e.g. Heathrow or Paddington, neither of which seem possible to expand. The housing crash never came, 2008 was just fine and, even with the Brexit pause on all possible decision making, prices just keep going upwards for property. Never give up faith in capitalism. Even if you would prefer socialism.
- spiderjerusalem 8y agoWell I for one would prefer a crash because then I would at least consider buying real estate. Without a crash, not happening - renting wins in most European cities right now.
- Theodores 8y agoI realise that my original comment was not popular, but capitalism defies logic when it comes to housing markets. It no longer has anything to do with the earning capacity of the common man, in the global cities - New York and London being prime examples - property prices defy gravity. There is just nowhere else for the capital of the 1% to go, so we are stuck. It should have had a reset in 2008 but the banks were bailed out instead. A lot of people including myself would like a grand reset of the whole capitalist rent seeking enterprise. But our prayers are nothing compared to their capital. The other thing is that if there is a crash then the 1% can buy even more property and other assets at a bargain price. Whatever happens they win. Only a popular revolution can save us.
- deleted 8y ago[deleted]
- basetop 8y agoWell at least after 10 years or so, a few miles of the 2nd ave line has been completed. I think everyone deserves a pat on the back don't you?
- mlrtime 8y agoNo, it's pathetic that it cost so much to build. Politicians, Handouts, Unions, Lawyers....