NYC Developers Are Looking to Build the Tallest Residential Building in W Hemisphere -- w/ non-union

[Panich52]

NYC Developers Are Looking to Build the Tallest Residential Building in the Western Hemisphere -- with Non-Union Labor

By Michael Arria, AlterNet

The city's latest hulking symbol of neoliberalism will literally cast a shadow on Central Park.

READ MORE»

http://act.alternet.org/go/57896?t=25&akid=12798.1924881.yl7sf3

..

[Agnosticsherbet]

1. Reports of foreign investors spending big bucks buying multimillion dollar residences in New York

as investments rather than as residences reveal who is intended for this white elephant palace.

Sad.

[dixiegrrrrl]

2. the good news....

With any luck, the real estate bubble will be bursting soon.
Already there are stories in the news about uber wealthy Russians who are trying to sell or back out of their NYC condos.
And in China the housing market is falling fast.

If that building ever gets built, with non-union workers, and with imported from China materials, it might not last very long.

[Agnosticsherbet]

3. Bursting bubbles are never good. The people hurt will be constructio workers, the middle class and

poor who service White Elephant projects.

We need to work to develop an economy that does not function by creating bubbles.