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Was NYC "adapting" to its own growing needs before pandemic? I assumed not because it seemed clear that real estate price growth in most global cities were unst
by 627467 6y ago
Was NYC "adapting" to its own growing needs before pandemic? I assumed not because it seemed clear that real estate price growth in most global cities were unstustainable.
I get that _some_ people who had plans to enjoy the growth pattern of NYC for many decades to come are now faced with this "black swan" and don't know what to do to keep their forecast earnings. But overall, the societal pressure to urbanize will continue. If anything pandemic just is making the true costs of dignifying urbanization more clear.
- onepointsixC 6y agoJust because there is pressure to Urbanize doesn't mean that it will happen in NYC. NY already was looking a great deal of loss tax revenue, this has just been worsening the trend.
- 627467 6y agoSo nyc was already facing pressure to adapt to changing reality. We are in agreement. What says NYC will fail to do so? Does adapting only mean keeping up with increasing amount of tax revenue? Cities aren't (should be) corporations, less revenue (due to less residents to cater for) shouldn't be bad in itself. What prevents NYC from adapting to a new reality and be successful at it for it's residents?