Freakonomics Radio 434. Is New York City Over?
Oct 8, 2020
Ed Glazer, a distinguished urban economist from Harvard and author of "Triumph of the City," delves into the aftermath of the pandemic's impact on New York City. He discusses the challenges of urban density, shifting population trends, and how the city is not likely to revert to its troubled past. Glazer highlights the resilience of urban life, the importance of effective governance, and innovative strategies for economic recovery. The conversation also touches on how collaboration and creativity can shape the future of this iconic metropolis.
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NYC Employers' Concerns
- 160+ NYC employers sent a letter to Mayor de Blasio criticizing his pandemic management.
- They cited deteriorating conditions in commercial districts and neighborhoods.
Measuring NYC Outflow
- Measuring NYC's pandemic population outflow is difficult; cell phone data and address changes offer limited insights.
- Roughly 125,000 more people than usual seem to have left, but this isn't a mass exodus yet.
Manhattan Real Estate Trends
- StreetEasy economist Nancy Wu finds Manhattan rental inventory up 65%, but home sales down 37%.
- This suggests an acceleration of the usual attrition to suburbs, potentially driven by low mortgage rates.
