The 1980s in New York were a time of restrained optimism compared to the 1970s. Wall Street’s boom fueled speculative real estate, and unemployment numbers dropped significantly. Koch balanced the city’s budget ahead of schedule, allowing the city to reenter the bond market and raise cash, effectively ending the city’s financial crisis by 1981. However, crime and disorder still characterized New Yorkers’ daily lives. The illegal drug trade flourished in the city, causing the murder rate to rise and dividing it into areas ruled by different drug lords. This became known as the crack epidemic.
The New York City Subway suffered from a crime epidemic that saw more crimes being committed on the subway every year than anywhere else in the world. During the 1980s, homelessness also became a serious problem.
Here are some fabulous photos that show the street life of New York City in the 1980s by Steven Siegel.
