Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: John Vosilla who wrote (102641)	9/30/2009 1:49:03 PM
From: SouthFloridaGuy	Read Replies (1) of 116555

NYC is a fundamentally different place from back then. Globalization in the gate-way cities is under-appreciated. Still, I am pretty much 100% in agreement with your assessment regarding "hood" areas. They are the "new, new" shanty towns (including the tent cities which will be permanent). In keeping with the globalization theme, we are moving toward 3rd world status in our cities. Certainly, I'd put Los Angeles in that category where the contrast been rich and poor is blatant. Prices in the good areas of third world countries are generally correlated to global economic activity whereas the poor areas are dysfunctional. Go to Buenos Aires today and it's not like you're going to pick up an apartment at Riverside, CA prices. More akin to a good part of Miami... You can actually live a pretty good life if you live in the good area, go to the good malls, restuarants, etc. More than ever, it's about LOCATION, LOCATION, LOCATION.

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