Home > economy, real estate, retail > How Depressing!

How Depressing!

Great Depressions can be so depressing. I don’t know how many people saw Paul Krugman’s NY Times blog the other day, but basically he wrote that he believes we are just at the beginning of the nation’s third economic Depression.

I happen to read his column as often as I can and from what I can tell he has been a sober analyst of the economic crisis over the past few years. So, this column of his was rather unsettling to say the least. But he has been warning for quite a while now that a Depression was a distinct possibility if the right public policies were not put in place real fast to prevent it from happening.

I was just sitting here thinking about all the empty storefronts lining the Austin St. area these days, some of which have been sitting empty for a very long time. Will they remain empty for many more months or possibly even years to come? I plan on running a reconnaissance mission soon about this – which in un-geek speak means taking a walk down Austin from one end to the other and counting how many empty storefronts there are. Just because walking is good for me, and because I think it might be interesting to know and post here on this blog.

I know this post is pretty depressing. But it goes to the core of what this blog is about, basically our quality of life here. This blog is all for seeing us continue to move forward as a vibrant part of New York City with new development of all kinds — great restaurants, stores, new residential construction — continuing at a fast pace.  Let’s hope Krugman is wrong. But if he is right, then let’s hope we see some innovative plans soon to get this economy moving again.

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