“Once the pandemic is behind us, there could be major growth. ”
Assuming that we can dump Trump and his destructive policies on trade and immigration, the US and in particular NYC is going to see a boom like we have rarely seen as soon as the pandemic is past. Our infrastructure remains in place; Democrats will invest massive amounts in renewing it. (Trump promised to, but he lied about that like he did on everything else.) Even more importantly, though, is that there is HUGE pent-up demand for travel, entertainment, and eating out. Airline tickets will be expensive and hard to get — travel will have to be planned 11 months in advanced. Amtrak will be packed to the gills and hopefully the federal government will finally deal with the tunnel problems. Hotels will sell out months in advance and major tourist destinations like NYC will need even more hotel space (hopefully the next Mayor will run roughshod over the NIMBYs with more success than De Blasio). Broadway shows will be sold out for years. Restaurants will be packed and will have to extend hours. This sector will lead the rest of the economy and the Trump Recession will be merely a bad memory.