Rudy Guiliani was "very" good....and "VERY" lucky..or, the coming, rapid demise of NYC

self

[mdwakeup]

The actual amount of lost commercial space is more like 35 million square feet, counting the 12 square blocks of the WTC and the surrounding "frozen zone." In addition, only about 30 percent of residents in the frozen zone have moved back to their apartments. It's going to be a long climb back, and it will be bleak for a while. But when we elect Rudy President in 2004 (oops, I meant Mayor -- or maybe I didn't), things will turn up. This is not the fall of the Roman Empire, folks. Do you think Rudy is just going to disappear?

[ken5050]

The municipal unions problem as it relates to NYC's survival is a given...sorry I neglected the obvious....the cops and fireman deserve big raises...but going back under Wagner all the city uniformedunions got pay parity..that means a garbageman makes the same as a cop...and all the unions always get about the same % increases.....What's really pathetic about the teachers is that about half of them should be fired....yet now we;re gonna give them ALL 30% raises.....

[mdwakeup]

Yes, it's a joint proposal by Senators Schumer, Clinton, Corzine, and Torricelli. Also backed up by Governor Pataki. It would provide a tax credit for people who purchase or lease residential space in the frozen zone. It would also provide a tax credit (based on a percentage of their employees' wages) for employers who open businesses in the zone.

[ken5050]

It's hard to figure which way NYC real estate will go..I think the top end...the 8 figure prices will collapse..then the middle range will go quickly..some prices have almost doubled in three years....and could easily come back to those early prices.....lots of banks and H/E companies will be holding lots of real estate with negative equity......rememebr the early 80,'s when R/E prices in the met ares collapsed nearly 40%...it took 6 years to get back to former levels......this disintermediation could be worse, simply because lots of places will get dumped.....

BTW, I like your FR handle..are you really "Machiavellian?" (G)