Is New York doomed long term?

[Daniel Kosciuszko]

I've been getting concerned with the recent news about NY and its future. Add to that my family who have moved down south and constantly **** on my for still living in NJ/NY metro area. I am about to start getting into BRRRR investing and was considering Newark because of its proximality to NYC which I figured is good for stability. I could move since I am renting at the moment and learn another area if its much better. Please advise.