Once again, Megan has something intelligent to offer on her home town...

Post-finance New York:

"Likewise, it's hard to overstate just how far left and economically illiterate most of New York City's council members and state representatives are. The politically powerful head of the transit union was, the last time I checked, an actual communist. The financial industry was the closest thing that New York now has to a vibrant business community, and with its power ebbing, so is the only remaining natural check on the left's worst instincts. That's why there's a very good chance that the State Legislature is going to halt stabilization decontrol and renege on the phase-out deals it made with developers in exchange for building stabilized housing--and thus even more thoroughly ensure that no one in the City of New York builds any multifamily housing except luxury flats that no one will be tempted to control. Though they won't be building anything at all, for a while--the credit crisis is shutting down a lot of projects in the area."