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New York City has a long history of cycles.

They get a good mayor, the city gets prosperous, there is lots of new construction, the population increases, the crime decreases, the schools get better, etc.

Then they get complacent and decide they want to share some of the new wealth with the poorer folks in town. They elect a left-wing mayor. Crime goes up, schools get worse, the city loses many wealthy residents, the population decreases. Landlords stop maintaining the apartments and new construction stops.

At some point it gets bad enough that a significant portion of the working poor decide they need to improve the quality of life in the city, particularly when their apartment building starts to get infested with rats and criminals start roaming the hallways and entrance-ways.

They elect a good mayor and the cycle starts again!

At some point it gets bad enough that a significant portion of the working poor decide they need to improve the quality of life in the city

Like what finally happened to Detroit, this time may be different. When the socialists are in charge of vote counting, the only voting that matters is with two feet. Like migrating locusts, half of current NYC residents moved there from far away. Only the worst of the worst can't move again.