What an astute observation by Byrne. How many people are out there living in big cities indulging in the mindless pitter patter of going to the office, then the gym at night (or morning), with an occasional strip club visit with the buddies? I can't imagine people doing that and having a fulfilling life. Also, as a resident of New York state I found this bit particularly funny, he knows what he's talking about. I do believe that there is still hope for New York City, it certainly isn't in tatters. That said, it does seem that most of the improvements have a direct impact on the well off and a more marginal impact on those less fortunate (crime rate aside). It will take a real politician, not the likes of Bloomberg or a Bloomberg crony to foster the cultural side of the city. There's still a lot of life to it, but I think the banking and well-off need to be more restrained, or at least not have such a big impact on everything else there....but once people are lured to a place for work, they need more than offices, gyms and strip clubs to really live.
But where will I go? Join the expat hipsters upstate in Hudson?
Keep in mind that NYC conforms to the economic theory that rent control does not in fact benefit those that can best use low cost housing. A lot of rent controlled apartments are rented by people with higher salaries. Additionally, landlords have less incentive to maintain their buildings as there is less competition in prices. Also, this means that new buildings aimed at attracting people that can only afford non-luxury apartments are not profitable for developers. Thus, luxury buildings.I do believe that there is still hope for New York City, it certainly isn't in tatters. That said, it does seem that most of the improvements have a direct impact on the well off and a more marginal impact on those less fortunate (crime rate aside).