Former NY Gov David Paterson Warns of “1970s” Potential Crisis in New York City

Edited by: TJVNews.com

Former New York Governor David Paterson issued a stark warning about the future of New York City, expressing concerns about the rising crime rates, mounting debts, and the city’s migrant crisis reaching a critical tipping point, as was reported by the NY Post. Speaking on “Cat’s Roundtable” on WABC-77 radio, Paterson discussed the city’s challenges and emphasized the need for the government to adopt a more accommodating approach towards developers and for them to address the pressing migrant issue. The Post also reported that he also cautioned against higher taxes on the real estate industry, fearing it could prompt businesses and individuals to leave the city.

Governor Paterson, 69, raised alarm bells regarding the escalating migrant crisis in New York City, with thousands of asylum-seekers arriving from the US-Mexico border. Citing recent events where migrants chose to sleep on the streets instead of being housed in facilities, Paterson indicated that the situation has reached a tipping point, as was reported by the Post. He praised New York City Mayor Eric Adams for his bold efforts in demanding federal assistance to alleviate the strain on the city’s resources caused by the influx of migrants.

“Adams bravely has taken on the Biden administration and talked to them about the problems of sending all these migrants to New York but not sending any significant resources to help house them,” the former governor said, the Post reported.

“Look what happened at the hotels where the hotels were filled up,” the former governor told host John Catsimatidis on “Cat’s Roundtable” on WABC-77 radio, referring to the city’s desperate attempt to house the flood of recent asylum-seekers from the US’ southern border, the Post report said.

“The excess migrants, mostly males … chose to sleep on the street rather than go to another facility,” Paterson said. “I think it’s a tipping point,” he said of the crisis, the Post reported.

Governor Paterson also expressed concern about the potential consequences of imposing higher taxes, especially on the real estate industry. As was reported by the Post, he stressed that the industry is essential to the city’s revenue and its stability. He warned that such tax increases could lead to an exodus of businesses and individuals, resulting in a scenario similar to the challenging times of the 1970s, marked by soaring crime rates and unaffordable housing, the Post report said. Paterson highlighted the importance of affordable and luxury housing to maintain the city’s prosperity and livability.

During a recent discussion with business leaders, Paterson learned that the development community feels misunderstood and resented by Albany politicians, according to the Post report. He criticized the lack of understanding by policymakers about real estate development and the business sector, which has resulted in frustration and dissatisfaction among business owners. The Post also reported that Paterson urged for a more empathetic approach, emphasizing the need to comprehend people’s endeavors before making judgments.

Albany lawmakers “seem to almost treat certain members of the population as if they were expendable. And they’re not expendable,” Paterson said, according to the Post report. “We need them to be here. We need affordable and luxury housing.

“The real estate industry really is the backbone of the city. You’ll really find out how bad it can be if they do move away. Or you have situations like you had in the ’70s where you had the proliferation of crime and the un-affordability of housing… created a really squalid condition around the city, “ he added.

Governor Paterson’s warning sheds light on the challenges facing New York City. The Post reported that as the migrant crisis continues and the real estate industry faces potential tax burdens, the city’s stability and prosperity hang in the balance. A collaborative effort between government officials and business leaders is crucial to finding viable solutions to ease the strain on resources and create a conducive environment for development.