Introducing North Brother Island. It’s a once-developed island overgrown with trees. By itself, maybe not so interesting. But we are told in this business that location is everything, so it comes as a shock that this abandoned island is situated between Queens and the Bronx in New York City. You read that right: it’s New York real estate that has yet to be paved over.
First, the good news. With thoughts to those on the eastern seaboard still struggling with interrupted electrical, infrastructure damage and the like, it appears that the aftermath of Hurricane Sandy is not going to seriously disrupt the wider US economy. That’s not to minimize the very real trials of our friends out east, it’s rather to put things into perspective. Sandy’s huge impact up against the monumentally enormous, single largest economy in the world – the $14 trillon GDP US economy – means at a big enough scale, Sandy might just be a blip on the books.