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New Yorkers: it's time to save the city we love


By Terri White Time Out Staff

Terri is Editor-in-Chief for Time Out New York. Cheese makes her happy. Karen Carpenter makes her sad. Follow her on Twitter at @terri_white.

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The reason that local/mom and pop/small businesses are going out of business is the same reason that normal people are moving out of the city:  It's unaffordable, especially the rent.  Of course the only people who can afford to live here are people with white collar jobs making at least six figures.  Of course the only businesses that can afford to operate here are chains and franchises with millions if not billions of dollars in revenue.  Even if city residents were to give their patronage to local businesses exclusively, rather than chains and franchises, local businesses would still have a hard time staying in business because rent, among other expenses, is simply unaffordable.  This is a problem that the city government must address, as the market has proven that it can not control itself.  For starters, real estate must only be allowed to be owned by people, not corporations.  This will diversify the ownership of real estate and, therefore, bring rent down.