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**anenselog** · 10-09-2008, 10:34 PM

The impact on New York and the surrounding area is going to be devastating, perhaps catastrophic. I can't think of a time when year-over-year tax revenues will decline as sharply as they're sure to do this year from the combination of fewer real estate deals and Wall Street bonus pools going from record highs to almost zero.

I can only hope Bloomberg prepared the city for the downturn as well as he claims. Crime shouldn't go up too much unless we see a sudden shift in demographics.

10-09-2008, 10:34 PM	#15
anenselog Join Date Oct 2005 Posts 451 Senior Member	The impact on New York and the surrounding area is going to be devastating, perhaps catastrophic. I can't think of a time when year-over-year tax revenues will decline as sharply as they're sure to do this year from the combination of fewer real estate deals and Wall Street bonus pools going from record highs to almost zero. I can only hope Bloomberg prepared the city for the downturn as well as he claims. Crime shouldn't go up too much unless we see a sudden shift in demographics.
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