This is complete hyperbole. Rents here are a little lower, but still higher than anywhere else. Shop windows aren't boarded up, and the ones that are empty will

This is complete hyperbole. Rents here are a little lower, but still higher than anywhere else. Shop windows aren't boarded up, and the ones that are empty will rent as soon as the price drops to a reasonable level. There was some worry over the last year, but things have quieted down in the last few months. The big changes are mostly localized to the high end of incomes, where lifestyles have been downsized a bit. Non-profits that depend on wealthy donors are putting off plans to expand, and it may be easier to get seats at a popular show or a table in the most exclusive restaurants. The streets are not filled with bankers who were making hundreds of thousands last year and are homeless this year. The subways are still crowded and no more or less clean than last year. It's a big city, and it's not going to turn into a warzone because Lehman Brothers closed.