Louis Rossman has been documenting the problems of NYC for years. Everything from dealing with the broken breaucracy to people who lie about storefront sizes to stores that remain unrented for years, yet the prices refuse to come down.

I used to work for one of the big tech companies. They would lay off 50,000 workers and act like nothing unusual happened while yelling at those of us who were left to double the productivity. The managers' job was to go to meetings to learn how to yell at us to be more efficient. This video brought back some really bad memories. I'm glad I'm retired.

Your channel has gone from cool apartments to investigative journalism we can't get on the news. Great stuff, keep it up

The company I am at had office space across from Grand Central, $50k a month for the floor. Nice location - 50 years ago - get off the train from Westchester and walk across the street. They gave it up in mid-2022, went full work from home, and no signs they are ever going back. Yes, it's one of those "they can hire people anywhere in the world" deals you hear about with such horror, but folks, it's a reality and it's not going away.

New York can’t even afford New York

For not being in a recession, it feels an awful lot like we're in a recession...

I am from NYC and 1/2 my coworkers left during covid, thinking they'd just move back. Who knew we'd have a ridiculous rental bubble despite shrinking population (in 2022). It was bizarre. Makes you realize how rents are based on "comps" and not supply/demand. My job can't afford the ridiculous salaries so they can pay the ridiculous rents. Also I hate going to the office, the subway is worse (not necessarily crime, but I am sick of "showtime" every single time I am on the train and listening to people watching tiktoks outloud), most lunch places closed or have limited options, coffee is now like $6 and they want a tip....it's like going to the office is for rich people only now.

The City is done. Taxpayers are leaving while tax consumers are staying and more are moving in.

Once businesses leave, you are in trouble - direct and indirect jobs (coffee shops), tax revenue, community and infrastructure investment. A race to the bottom.

So.. Offices are empty, companies are even skipping town YET, apartment prices still increase year after year. This is madness..

I visited New York City 6 months into Covid. The feeling I got was eerily similar to visiting a graveyard. I foresee New York becoming just that. Once a vibrant and charismatic city, now a morgue and church bells in the distance.

Grateful to have stumbled across you. I loathe MSM. Find I am getting most all my NYC news from you. Great Job!!! Keep it up. I'm a 67 yr old disabled Army veteran. Thinking you may have very wide appeal.

As an outsider, It seems like New York can't do anything for itself. It's almost like it just sits there and waits for someone else to fix it.

I just can't imagine why any business or person would ever want to stay in NYC anymore. The Government hates you and they show it with their policies.

I love the how clear u talk, vocabulary on point! Thank u for waking up the masses!

You do a great job presenting the facts and you keep my attention well.

I left NYC in 2022 the place has terrible local government, was ruined by crazy pandemic policies, has high crime, and is overly expensive

$19.43 for 30 mins of parking is insane

Ever notice how its always Police and Fire that face cuts, its never the Office of Diversity, Equity, and Inclusion, Office of Sustainability, or Office of Nightlife (yes that is a thing).

Anyone noticed how people who told coal miners "learn to code" are awfully quiet now?

Offices actually can't lower their rent even if they wanted to. The owners usually have the building up as collateral against the loan and the property value is calculated based on how much space is leased at a fixed price(s) / sq ft. If the owner decides that the fixed price is no longer attractive to renters, they have to pay back the banks the difference to keep the loan in good standing, which is likely millions of dollars. Since no building owner has the ability to pay that immediate sum, they never lower rents. In fact, they often increase rent to other tenets to make back their money, which usually does the opposite... There is a system in which the owner can petition the loan backers to allow them to lower the price, but the system is designed to make sure this almost never happens. The entire commercial real estate market is just a massive Ponzi scheme.

It's so impressive how you know so much about every relevant topic! You're so smart, where did you go to college? You're very savvy for someone so young.

As always, Great Video Cash. I made a couple of Great decisions in my 55 years on this earth. One was picking the perfect Spouse/Partner of 30 years. Number 2, was leaving New York. We left New York broke, struggling and hating life. We got out of there and raised our kids in a FREE Red State. Beautiful property/home, no crime and the tax savings over about 25 years has allowed us to build a multi-million dollar portfolio. As we approach our early retirement, (60 years old) we often wonder what our situation would be right now if we stayed in NY.

I was so grateful when my daughter graduated from NYU, because I will never need to visit that nasty hellhole again. My most prominent memory is the ginormous mounds of trash bags piled along every street, even in front of billion dollar high-rises. Somehow, all the movies and TV shows filmed in NYC manage to avoid showing this lovely aspect of the city.

So google can house migrants then right

I really enjoy your informative videos!!! Great reporting Sir!!! 👍😊❤

Loius Rossman ... talked about this .. before leaving, NYC. :) for like 10 years ago.

I really like your style Cash Jordan! I'm from a big city in Canada, and its really interesting watching the parallels between our societies. Things like huge vacancies in offices that were packed 5 years ago. City funds being mismanaged, and seeming thrown away on projects that lead to nothing. The locals being the ones suffering the worst of the consequences... Great reporting, keep up your great work!

I said this once,, and I'm saying it again. New York City is a sad shell of its former glory days.

Wait til they look at how many TOURISTS want to or NOT want to come to nyc.

I'd love to know how many prime properties Blackrock will eventually buy for pennies

Pretty soon, no one who's not a billionaire will be able to live anywhere.

Crazy how Cash Jordan went from apt videos to the best balanced reporting on NYC's current issues and concerns.

Excellent work, as usual. Love the vids.

Found your channel! Like what I’ve seen so far. I’m guy from Wall Street on Thursday.

I work & live in Manhattan (20yrs). My firm has been on a three day in-office mandate. It’s been recently announced that it’ll continue going forward. Hudson Yards was a false promise. The tax breaks and future tax breaks will cost us tax payers. Nightlife isnt as in demand as it used to be. Its a shitty place to live, cant wait to leave.

Manhattan will become a ghost town. Congestion pricing will be the final nail in the coffin ⚰️

Yet another phenomenal report🎉 fantastic work!

Thanks for another outstanding report on NYC and office space dilemma ...

the amount of good content on this page is crazy

Commercial real estate is the canary in the coal mine. The next financial crisis is coming soon

I love watching how you cover the pulse of the city in its current circumstances. I lived in Manhattan for 3 years. It's tough!

I work in advertising which is still heavily in NYC and they’re starting to make people come back to the office even though there’s no point since clients decreasingly want any face time. My first office was great-we had a gym with river views, a cafe and cafeteria with river views, an exercise studio with classes led by “famous” instructors. I think they had done this because they were one of the first agencies to move downtown and there were less commercial amenities. Well, I lived in a gross Brooklyn apartment so going to work was like vacation. We had big cubicles too, not sharing space communally like became the norm. The offsite work parties were weird but they tried to be entertaining, and on premises happy hours were decent. And honestly I worked with so many characters and had crushes on some coworkers and made friends so going to work was amusing for sure, there was soap opera level drama. We worked late but got car services home and big delivery meals. By 2008 all these kind of perks started dwindling. And now if people can work long hours from home instead of at an office with no real perks good luck getting people back! Off topic but I’d love to see a video on the brokers price gouging the legit rent stabilized units going back in the market. If someone wants an apartment for under 1500 why would they have 4 or 5 figures for a broker fee???? It makes no sense.

I closed four store front eliminated all jobs restructured & created a 100% online business using only two employees in my operation. No more theft that now helps with higher profit ROI, lower operating cost, lower inventory & sales to date are up 44% this year compared to last year sales. Changed with the times & being rewarded.

New York Mayor can now use these empty offices for living space for the migrants.

Cash, You are absolutely killing this series of videos of New York City. Your research and ability to back up your findings with the local news and interviews is outstanding in my opinion. Based on the views on these videos everybody is enjoying them. Thank you for your work. I look forward to these everyday

Jordan be on their NECKS every other day. Thanks for the accurate and CONSISTENT UPDATES.

Budget increases => "Let's hire a videographer to help mayor's wife make cooking videos." Budget decreases => "We have to get rid of some firemen and sanitation workers. That's the only place where the city can save any money."

And yet, these companies are reporting their highest earnings yet across all the biggest tech companies. It's all about enriching the top.

Bro is literally replacing MSM, love you cash, thank you for keeping me informed

Cash, always look forward to your vids! Never know what area of your vids you'll cover! Thanks, and please be careful!

Cash, You really do a good job! The future is bright for those dealing with reality instead of political narratives.

I think what is happening to NYC is happening to all large cities in the United States - for instance I live in Indianapolis Indiana and of course it's a lot smaller than NYC but still the 10th largest city in this country!!!! We've got a huge uptick in crime, empty office buildings and all sorts of problems that didn't exist 30, 40 years ago. The department stores are gone so why go downtown if you don't have to? This stuff is happening all over the country.

Reminds me of the movie, Escape from NY City with Kurt Russell. Looks like all the locals are leaving and it's being taken over by the criminals.

Keep up to good work!

You also forgot that refinance for the mortgage of these properties is about a year away. This means more pain.

You are killing it cash. The future of local news.

I absolutely LOVE this channel. The charisma you have oozing from your pores makes hearing updated events less morbid. 🎉

Reporting live we go to Cash Jordan 😂 love your videos man keep up the good work.

It’s a shame how these corporations will cut peoples jobs when the same people are part of the economy and without them spending money, the company that let them go will potentially still lose more money in the long run. Our economy is so fragile, when people don’t make and spend money there is nothing. Old heads wonder why young people don’t want to work. The economy isn’t how it was 50 years ago

There’s too much happening in nyc at once. The crime rate is at a all time high right now and immigration has decreased the amount of resources for the citizens in many aspects. Everybody is leaving New York it seems…

My countryside bumpkin mind can't comprehend how this city works. I mean how can a fast food employee, cashier or beat cop even afford the rent alone? No seriously I wanna know.

That is because Google found cheaper land ,taxesand cheaper labor in the Midwest along the Missouri river

My idiot company moved their HQ from Atlanta to NYC. And this was after successfully coming out of a bankruptcy. No one has ever accused our executives of being smart, that's for sure.

Meta’s address is “1 hacker way”. Hilarious

I think blaming it on AI has just become a cop out for wanting to lay off people. Generative AI can do some amazing things but the time and money it takes to train a model and for that model not to be stupid is more than most people would think. Plus it doesn't react well to new information

in the last 30 seconds of this video, you got aa full frontal shot of 1411.... thats where I work. I was probably upstairs while you recorded this

God damm i love ur content man . Keep it up real and researched !

I can hear Louis Rossman laughing all the way from Texas!

I left New York in 1991 before anyone knew the shit was going to hit the fan...

I just don’t understand why corporations want to replace people so much. Even fast food restaurants are trying to replace employees with machines. They hardly, if ever, pass those cost cutting savings onto the consumer. So in a world where things are only getting more expensive, why such a push to increase unemployment, who will be able to afford their products?

Basic greed!! 30 years ago I owned an 11 unit strip mall. There was a larger one across the road. The recession hit and I lowered the rental by 10% with the understanding it will go up when the economy improved. Across the road they jacked up the rent and had 60% occupancy. All my tenants stayed. I still had a good profit margin.

As the saying goes New York, sooner or later you run out of other people’s money.

Between your videos and Luis Rossman's I can't help but wonder, if EVERYONE moved out of the city would those housing/office space prices go down.....or up? Cause whatever financial mechanisms lay behind this weirdness certainly appear to lie beyond the control of any people with even an ounce of common sense.

You make really good informative videos. Thank you sir. I'll love to contribute. Chicago.

My man lost his job due to the ruling that the companies over a certain size in nyc had to be unionized. He worked security at a diy store. As in contracted work. . Due to what happened. even the ones employed in different states, even though the headquarters have to pay union dues. And my man's company REFUSED to argue for a pay raise for the workers. They were to stay at the same rate, but having to pay a huge chunk of their paychecks to the union. NYC's ruling is affecting all 50 states. And not in a good way.

I’ve been watching Cash for months, however now I start to look for his videos, sooo informative.

So google can house migrants then right?

I mean I know it’s easy to blame remote work, but could it possibly be that prices went way up for no reason just to gouge everyone, and now the city is just absolutely unaffordable?

Love your content ❤❤ always look forward to your reports😊

They once explained why rents don’t go down: if they do, they have to reassess the buildings market value and if it drops they don’t comply with their mortgage agreements and have to pay down a part of the loan. As they can’t do that they prefer vacant with non payment agreements to lowering prices. The banking system is broke (thanks fed)

NYC: you can’t live in business space it’s unsafe Also NYC: come sleep on our cots inside a tent with 1000 other immigrants in a flood zone.

Cash Jordan! Please let me know the music you use in all of your videos. I absolutely love them as they transition well with how produce your videos. I love it, keep up the great work. Please get back to met bro, thanl you!

Little to do with productivity. If you follow their financials, it’s about shareholder perception. Basically shareholders and street analyst expect cuts. So they cut. And they copy each other. It’s rather lazy. They will hire even more than they layoff in a few years when analyst expectations are for more growth.

Can I just say that I appreciate how fast and how many videos you're putting out as of late??? i'm a newer video so maybe this is a norm but the amount of high quality videos you've done in the span of a week is crazy to me!

I was laid off from Google as a TVC. I worked in the fiber transport group for almost 5 years doing work all over the US and never stopped during Covid. So much for that.

I work in IT and I can say that AI is not really the reason they are letting people go but it will one day be a problem, unless your are a writer or a designer. There is just less money in tech companies generally speaking. We may have reached a market limit for current interest rates when it comes to getting people to pay for your product. Companies have to get money not only from investors but also from banks. You are kind of forced to make your existing investor happy buy giving them a good share of your profit and not expect that much to get as much new investors as in the past for the same period. That means cutting cost first. Outsourcing cost to lower wage countries is still a trick that is used. All those companies seem to recruit if you look at the job posting at any time of the year even during the layoffs periods they are still posting vacant jobs. Let's be real NYC employees are expensive as hell and even if I got gave a job in tech in NYC I am not sure I would take it(I am afraid I would be fired soon as they are doing these moves) + if the market says that your stock price may be to high for the current market these layoff may be handy while your are offsetting cost to lower wage countries or states or consultancy(those heads don't count in your employment as you are buying a service that you can cancel almost instantly). I also never want to go back in any office and I am wishing for another real estate collapse. Real estate market is fake as hell if you read between the lines and look at the number of vacant houses and apartments and these tech/finance offices around places where people have to live only make it worse. If we quit going to the office we can make a better future for the first time buyers and renters as they will be free to move to non inflated markets.

I remember in 2020, the talking heads of the financial industry warning this would happen. "If nobody comes to work, why have an office? And what cafe can afford to serve non existent employees?"

I'm from neighboring Connecticut, and prior to the lockdowns, for shits and giggles, I used to visit NYC every several weeks. On every visit, I spent money there on food, drink, transportation, shopping, and museums. I haven't visited NYC since the spring of 2020 and I won't be back until they get their shit together there. And that's revenue they won't be getting from me.

Like most big cities - world wide - New York is a dystopian place, dying from its own dysfunctionality...Who in his right mind an to live in such an environment ?

Reminds me of the way the newsroom looked when I worked at WABC-TV New York in 1981, LOL!

i don’t know why I love these videos. you could be talking about how many people take laxatives in NYC and I’d be like “ No shit? tell me more”

I live in North Carolina. We have these great little oceanfront towns that don’t charge for parking. They want your business they want you to spend your money in their town. Not like New York. It’s all the money grab

Government and large financial institutions have messed up commercial mortgage contracts to make things easy on themselves. They messed up the incentives. The only way for it to get fixed will be a massive failure of the market. I wouldn’t buy right now, but I would tell your Congressmen and legislators they should be addressing the issue RIGHT NOW. They need to be readying to be able to let the owners fail without bailouts.

At this exact moment, there are "computer scientists" writing code that is intended to replace their jobs, and they have no social skills, awareness, or understanding that this is happening to them. Blissful ignorance is quite a sad concept.

Same thing is happening in Chicago. Down town vacancies are over 30%. Water tower is basically empty. It’s sad what’s happening to the city.

Disgraceful, disregarding, and despicable to the neighborhoods that have been torn asunder due to the new high-tech buildings, and high-rental neighborhoods. Now all in the name of the future these techies have put themselves out of business.

As long as the city is one giant crime wave, companies and people will continue to flee. Remember this in November.

I managed properties in the city, mostly Manhattan, and the expense was through the roof. And, trying to get anything done, was hell, due to the unions and city regulations.

That Amazon building might be paid for, but they still pay real estate taxes each year. Probably a few million a year.