Michael Bloomberg stood on the step of city hall last week to be sworn in for third term as New York City’s mayor. There are a lot of problems in term of his position such as American financial power has shifted from New York to Washington. Furthermore, young singles may come to New York while many leave as they get older and have families, so to become economically sustainable, New York need to create policies that help encourage development in the areas where it’s less wealthy citizens live. The mayor should focus on people who live far from his neighborhood by generating urban residents as well as many immigrants today stay in the city to be close to their communities and to industries dominated by them. Conclude Bloomberg has built on many of achievements of his predecessor during his eight years in city hall.