I’ve now been back in the US for a little over a month and can’t help but notice the results of the recession. NY was clearly hit in the bulls eye …. Unfortunately the small players (on the retail side) are the ones that pay the biggest consequences.
It is sad to walk down the main streets in Brooklyn or major avenues in Manhattan and see innumerable signs screaming “for rent”, “out of business”, etc. Some of my favorite spots in town did not survive.
Asia was surely not hit as hard, at least judging purely from retail and real estate.
For those of you who are not here in NY, this is a normal scene on the busy streets of the city.