Well if the stock market went back to the way it was in the 70’s (not saying that’s going to happen), but if banking suddenly became boring.
I think NY would be in the same boat as they were in the 70’s
Not far from Detroit actually,(part of that depression/”lack of wealth effect” type of thing).
For those who remember, or who have seen any number of movies set in NY at the time (Death Wish, etc.): New York City resembled a disutopian vision of a dark future. The city government was so broke the police had to go on strike to get paid. The perception, true or false, that crime and gang activity were threatening the survival of the middle class. Garbage strikes, decayed infrastructure, rat infestation. New York was a mess in a league of it’s own.
