WHEN THE ROOF CAVES IN:

Leaders from the battalions of New York's foreclosure-fighters came together recently to talk about bad lending, good new laws, and the kind of bailout local folks would appreciate. > By Jarrett Murphy and Karen Loew

The recent collapse of some of the nation's largest financial institutions is understood as the crashing of a wave set in motion by years of poor lending practices, corrupt securities schemes and lax oversight. But for thousands of New Yorkers, the wave is still crashing – as they confront untenable mortgages, potential loan defaults, and even the loss of their dwellings. In 2007, there were 15,000 foreclosure filings citywide. And experts say that in New York City, the foreclosure crisis has not even crested.

How the crash will reshape America

Richard Florida's essay about the geography of our economic meltdown makes the case that the recovery, when it comes, will not be distributed evenly throughout the U.S. Some regions and cities are better positioned to rebound than others. Same may never recover because the core industries based in the rust belt, for example, cannot compete in the global economy and will be wiped out.

He sees the need for a more mobile, skilled, creative workforce, the kind that only flourishes in densely populated areas, "high metabolism areas", where thought leaders gravitate together. He also challenges the assumptions about the importance of home ownership, arguing that it traps people in places that don't always suit their skills and interests, such as during our current downturn. A stimulating read.

Quinn Urges Higher Taxes on High Incomes

Striking a populist tone, the City Council speaker, Christine C. Quinn, used her annual State of the City address on Thursday to call for an increase in the city’s personal income tax for households making more than $297,000 a year — a step that officials estimate could raise $1 billion a year but would probably face opposition from Mayor Michael R. Bloomberg and state lawmakers in Albany.

Stimulus Funds Offer Relief to City and State

New York State and New York City officials expressed a measured sense of relief on Thursday as they began totaling the vast sums of money for Medicaid, education, transportation and housing that could soon begin flowing here as part of the federal stimulus package.

Manhattan Borough Chief Pushes for Better Nutrition in City

Food and nutrition have been favorite issues for the Bloomberg administration. Now, adding to those efforts, Scott M. Stringer, the Manhattan borough president, is proposing his own plan for residents to eat better.

NYC Middle Class Blues

New York City’s middle class has fled from the dense, overcrowded inner city before.
Back when Queens still consisted mostly of open farmland and saltwater marshes, they took the 5-cent IRT train and settled down in two-family houses like the ones being built in Forest Hills Gardens or Sunnyside Gardens in the first half of the last century. And when those filled up, they moved farther afield to the new tract home developments being built all over Long Island and eastern New Jersey.

What Does It Take to Be Middle Class?

(Feb. 7) - Enjoying a comfortable life in New York City comes with a much higher price tag than it does in any other American city -- In fact, Big Apple residents need to have salaries well into the six figures to even be considered "middle class," a new study finds.

The study released by the Center for an Urban Future compares the cost of living in Manhattan to other major cities -- and the results are staggering.

Taking into consideration expenses like rent, phone bills and commutes, New Yorkers need to pull down $123,000 in annual salaries to have the same standard of living as someone making $50,000 in Houston. The Big Apple may be the worst -- but the price of middle class living in other cities might surprise you.

Off Broadway Takes Center Stage

NYC & Company announced a new promotion to boost ticket sales at 30 off-Broadway productions throughout the city that includes various incentives.

One statistic stands out in this article: More than 25% of the once two hundred off-off-Broadway theaters have closed in the last five years, and theater executives estimated that another 25% will disappear within the next 16 months because of the economic crisis.

I hope City leaders are giving some thought to whether NYC can remain a cultural mecca if it loses more than half of it's Off Off Broadway heaters, which are afterall incubators of talent and new productions, some of which actually end up on Broadway.