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As an escapee from what became an open cesspool of a city, I have often wondered why Wall Street remains in Manhattan. Given that the computer age has transformed the way banking and investing is done, I’d think the physical location of the industry could be just about anywhere.

Raleigh-Durham area is pretty nice, and the time zone is the same. DW has relatives there and I actually think that a lot of the financial shops are opening up big regiional offices all over the country.

Sometimes it takes a while for the tax issues to full sink in but the $10k SALT limitation should give Wall Street the willies.

Somewhere along the line, middle managers are going to figure out that their metro NY houses are not going to have much resale value and start getting while the getting is good.

Not just metro areas in NYS. I live in a rural area of Upstate NY. In my neck of rthe woods we’really seeing existing homes worth 200 grand saddled with almost five figs worth of property taxes...

Homes, if they sell, aren’t selling at or above assessed value because while folks can afford the price of the home, nobody wants to assume penurious property taxes.