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The R word
Recession. For many New York City residents, it feels like we're already in one. Is Manhattan insulated, in part because of the continued real estate boom? How about the other boroughs, where the subprime mortage crisis has been keenly felt? Here's what some New Yorkers are saying, according to interviews by our Justin Rocket Silverman:
Do you believe the economy is in trouble? Are you taking any steps to protect yourself?
"I don't think it’s going to crash. It’ll be more like a steady slide for the next two or three years, then it will come back. I have my job, so I’m not too worried. But I am waiting for the housing market to really come down so I can afford to buy a place.”
Modechai Spolter, 30, Midwood
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“The whole sub prime crisis is worrying. But I’m hopeful the Democrats will take back the White House and do something to turn the economy around.”
Jennifer Park, 25, Rego Park
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“I’m currently living in a temporary residence for women and have held off on leasing my own place in the city because I’m concerned about how the economy is going to get. I just don’t know if I’ll be able to afford to live here.”
Katie Doherty, 22, midtown Manhattan
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