Its All About Jobs

Manhattan is a small island with millions of people crowded on it living on top of each other. We love this lifestyle and most wouldn't trade it for anything. The housing market is cyclical, prices go up or down based primarily on demand which in turn is based primarily on the number of new jobs being created or, as we saw in Sept 2008, the elimination of existing jobs.

We have all read the reports that the economy is coming back and that the housing market, in particular in NYC is active too. But, the creation of new jobs has been slow in coming and as a result any real surge in the housing market hasnt yet happened.

This is why Mayor Bloomberg's new initiative to bring more tech based jobs to NYC in an attempt to create Silicon Alley is so exciting. The Mayor recently created a $22 million venture capital fund to invest in promising New York based tech firms. The Mayor obviously understands that its all about jobs and I for one am excited that he does.