Date: 2025-07-02 Page is: DBtxt003.php txt00025256
ARCHITECTURE
WHAT IS IT FOR?
The BIM: Why New York’s Billionaires’ Row Is Half Empty
Manhattan’s skyscrapers aren’t really built for people anymore.
WHAT IS IT FOR?
The BIM: Why New York’s Billionaires’ Row Is Half Empty
Manhattan’s skyscrapers aren’t really built for people anymore.
Original article: https://www.youtube.com/watch?v=Wehsz38P74g&t=497s
Peter Burgess COMMENTARY
The idea that the high end real estate in New York is being built for investors sounds like 'financialization' gone wild!
But the sad fact is that this is the reality ... and it is very unhealthy for the socio-enviro-economic system that we all depend on for our quality of life, and indeed, our survival.
Financialization emerged in the 1980s as a way to make the US economy work better than it had done in the 1970s. Policy options adopted by Reagan were steps toward a more profitable 'America' for investors but negative for most everyone else. For the past 40+ years US policy has been heavily tilted towards investors enabled in some part by the popular metrics of economic performance that ignore far too much of the social and environmental dimension to be fit for purpose at this point in history.
From my perspective it has become clear that accounting and corporate financial reporting that has its roots in the Victorian era and the early industrial revolution needs to be modernised so that there is accounting and accountability for all the actors in the system and not merely financial investors as it remains at the moment.
There is something obnoxious abut the use of real-estate as a place to store wealth ... and indeed the concentration of these huge amounts of wealth in the first place. The modern economy and financialization has been good for the super-wealthy, but the bottom majority ... maybe something like 80% of everyone ... are experiencing a declining quality of life that is unreasonable.
Peter Burgess
Manhattan’s skyscrapers aren’t really built for people anymore.
The B1M
Dec 15, 2021
2.95M subscribers ... 17,643,615 views ... 258K likes
#skyscrapers #architecture #construction
Manhattan’s skyscrapers aren’t really built for people anymore.
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