I read allot of comments of people who visit Albany and have lived in NYC and Boston. In those two cities, the major trend for wealthy young professionals is owning a brownstone in a neighborhood that is walkable. Think Park Slope, Williamsburg, Cambridge Ma, Charlestown. All of these areas were slums back in the day and are all the most desired places to live. Problem today is that in order to live in one of those areas, you need to be making allot of money. Many young people are naive and just put themselves in the whole to live there. Dumb move by them because these are the people who will sureally be living at home with their parents by the time they are 30.
So what about Albany. It looks just like Brooklyn Heights, Park Slope, Charlestown, the South End. Difference is that you can live there and not be in debt to your ears. I have read about people from NYC and Boston moving to the Albany area for this reason. Many think about it but ultimatly don't due to the way things are here. I am positive that the current housing crisis will encourage people to look to Albany. It could reinvigorate the city by bringing in young people with intelligence, ideas, families.
Imagine people moving here and opening new shops, imagine retail in Albany. If and when these people come, they will come with more money and will become a political force. They will probably demand better public transit, public saftey, better schools. I know first hand that a city I once lived in Somerville, was just like Albany, it was ran by old school Irish Politicians who did nothing but line their pockets. Today it is one of the most desirable places to live in the country.
I know NYC and Boston are different the Albany due to the economies. I beg to differe though, I think that the current state of the economy gives young people looking to live in cities no other option then to look for more affordable cities, and the best area is Albany. It has the vibe of a city, amazing architecture, history, walkable streets, proximity to NYC/Bosto/Montreal.
All we need is some sort if rapid transit that links these cities, and Albany would be the center, it would be the most desired place to live. People will say I am wrong, maybe I am, but anything is possible, I think this is Albanys time in the sun. I wish I still lived home, but I am a casualty of poor economy in Albany. If people push the old timers out and bring in people with new ideas, this will all become a reality.