September 26. 2020

New York

In the 1970s and 1980s, New York City had a massive crime problem. People were scared to go jogging in parks or walking at night. The murder and assault rates were high. Many areas in the city were suffering from urban decay.

In the 1990s, then mayor Rudy Giuliani and police chief, William Bratton, fixed the crime problem and cleaned up areas that were struggling with vandalism and neglect. New York City then began experiencing a real estate boom due to the improved conditions.

Andrew Cuomo

Then, the coronavirus struck in February, turning New York into its epicenter in America (and by default the world). Coronavirus has killed over 23,792 people in New York and sickened 247,000. People began fleeing the city for upstate New York and places such as Florida (which totally enraged Florida governor Ron DeSantis).

Weeks ago, New York governor Andrew Cuomo is begging people to return to the state, stating it needs their tax money. However, over one thousand families per day still left the state. The problem is now compounded for Cuomo as the virus has begun to surge in New York City again.

These problems are all negatively impacting New York City's real estate prices, which were the highest in America. People began selling at a loss just to leave of the city. Businesses are also suffering due to the coronavirus lockdown and people fleeing. Cuomo is now facing the prospect of another lockdown, due to the virus surging again. The coronavirus is setting New York and America back decades.

STORY SOURCE

Real Estate Prices Fall Sharply in New York

Published July 2, 2020Updated July 6, 2020 - The coronavirus has dealt a blow to the Manhattan real estate market unmatched in recent history, and the prospects of a near-term recovery remain unclear.

The number of closed sales in the second quarter was down 54 percent compared to the same period last year, the largest decline in at least 30 years, according to a new report from the brokerage Douglas Elliman. The median sales price fell 17.7 percent, compared to the same time last year, to $1 million, the biggest drop in a decade.

The number of contracts signed for apartments in June, the latest indicator of buyer appetite, was down 76 percent, compared to the same time last year...

https://www.nytimes.com

Unmasked Heckler Wreaks Havoc at Briefing as NYC Eyes New Shutdowns Over COVID Clusters

For the first time in months, New York City may have to roll back reopenings in certain neighborhoods to contain growing clusters; its top doctor warned Friday, "This may be the most precarious moment that we're facing since we have emerged from lockdown"

Published September 25, 2020 • Updated 20 mins ago - NYC is eyeing new shutdowns for the first time in months to try to contain new clusters; in some parts, positivity rates have hit 6 percent. "This may be the most precarious moment that we're facing since we have emerged from lockdown," health chief Dave Chokshi said Friday...

https://www.nbcnewyork.com

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