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February 6, 2008
New York to confront its economic fate
Crain's NY Business
Crain's editor Greg David predicts some of the fallout from the global economic slowdown and increasingly likely recession, including this one, which may or may not affect Brooklynites' most least-favorite project:
Expect dramatic cutbacks in budgets later this year as the governor and, to a lesser extent, the mayor try to catch up with falling collections.Construction jobs will start to decline as government money woes lead to delays and cancellations on public projects, and new residential projects are put on hold.
Posted by lumi at February 6, 2008 5:22 AM