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New York Times FINALLY discusses the death of downtown NYC; but won’t explain WHY!

00:00 Introduction
3:45 Tour of downtown Manhattan
12:19 Hypothesis
16:22 Conclusion

https://www.nytimes.com/2021/09/04/nyregion/9-11-lower-manhattan-businesses.html

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Written by Louis Rossmann

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  1. They need to accept that the market determines the prices for those, and not the amount of money they've invested into it, even Long Island is well into over-valuing their properties to the point that they can hardly support the businesses and population, they've been artificially inflating all of these values for years, COVID and remote work only pulled the veil back by allowing people and businesses to operate cheaper and make more money

  2. 20 people own more than half the worlds population. Tax them 99% (or even the same as a plumber) for every dollar of gain over 500k a year and your problem will disappear.

  3. Louis thanks for this. I realize you are somewhat experienced, and therefore biased, but I fully realize the increasing rate at which DT NY is crumbling. well, bricks of coke might still work, its a public service at this point

  4. You are correct, imo.
    When I look to buy something online and they do not list their prices, I am pretty sure
    they are gonna be expensive for no good reason.
    So I immediately skip those.

  5. Okay, genuine apology for not watching those, the board repair is what I come for over anything else here.

    However, that literally just never showed in my feed. I didn't know those existed until I came across this video. The algorithm decided they aren't worthy, I guess.

  6. Hey, that's the Federal Reserve Bank Of NY in the background. My sister works there, but now REMOTELY. The NY Federal Reserve Bank employs about 2700 people. 2700 who are now not contributing to that local economy since most of them are working remotely, or only come in maybe once or twice a week.

  7. We journalists know that if you start reporting negativity, then you will be driven out of the city with audits and etc… That is why we don't do it…. Hope you learn something today… 🙂

  8. The reality is that eventually, either the prices for rental will go down, or the owners will sell at a loss and the new owners will price for rental with a more realistic price in mind having paid less for the property in the first place. It's unsurprising that people who stand to lose money are resistant to changes but eventually reality sets in.

  9. Louis – check out the YouTube Series on Urban Design and Strong Towns from a channel called Not Just Bikes.

    You and your tribe of fans within the Right to Repair movement (of which I am one) would probably love it. It’s a very well articulated expose of those aspects of public policy which steal away both our quality of life and our tax dollars, and what we can do to remedy it.

    I’ve had my eyes opened by the concepts on that channel. And it’s hopeful and galvanizing content as well that could use a champion like you, or, if not a champion, then at least some likeminded allies from amongst you and your fans in the #R2R movement.

  10. NYC is dead, they just haven't been honest enough to hold the funeral. A couple of years before the "Pandemic", one of the kids in our Youth Group went to NYC to make her fame and fortune in the Fashion Industry working for Victoria's Secret. After spending ~4 years living in a tiny studio apartment shared with two other girls, she had nothing. Four years living like a homeless hermit, working her butt off and she had absolutely nothing. She finally came to her senses and left for much greener pastures. NYC is an overpriced, over taxed sewer run by some of the most corrupt politicians on the planet. It amazes me that any business would remain in a city where they are so hated and taken advantage of.

  11. Louis, I find this stuff fascinating. I will never dis NYC living because I've never lived there. I keep an open mind. I live in the midwest in a 2500 sq ft home plus a full finished basement, with a 3 car garage and inground pool in the backyard and a $1200 a month mortgage. I never have and never will understand why humans would enjoy their life, living in a 500 or 600 sq ft apartment and have to take a taxi everywhere they go. And then pay all that rent for retail space? I wonder what a laptop repair costs here where I live compared to what you have to charge?? I'm considering moving to Florida for a better climate, maybe you should too…. lol … keep up the good content…

  12. There is an empty spot next to the store I work (chicago) at, has been empty for 12 years now, since wamu went down under. The owner won't lease unless someone pays his outrages prices. He rather have it empty, yep 12 years.

  13. I live in Calgary, the oil capital of Kanazuela. This has happened in my city as well. So many of the downtown oil companies have gone bankrupt, taking all of the downtown traffic with them, thus killing the other businesses as well. I’m a plumber, we have shut down 40 story high rises and moved tenants into one building to help landlords with operation costs. The Rockefeller’s are guilty, they had our mayor down to their estate, obviously for nefarious reasons.

  14. That tour looks about the same as the crack area in downtown in my city (where a 1 room apartment is 300$ a month and doesn't have it's own bathroom)

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