The New York Times reports that in the midst of a tough national economy, New York City is in even worse shape. Anyone with a lot of white-collar, professional friends here could tell you things were bad (given that half of mine have been laid off at least once already), but it wasn't so apparent that the city was falling behind the rest of the country... and to make it particularly happy, they cite revenue drops in investment banking (my summer job) as the source of much of the pain.
Maybe this will finally lead to a correction of New York's sky-high rents... although I'm not going to hold my breath, it would be nice given that I'll be looking for a new place soon.
