If you’re rich, you can pretty much live anywhere.
So, if rich people are living in New York City, there must be a reason - fine restaurants, nightlife, Broadway, museums, etc.
The question is how much they’re willing to keep paying for all that. Cheaper to live elsewhere and only visit NYC .... once the rich start realizing that, NYC is really screwed ....
“The question is how much they’re willing to keep paying for all that. Cheaper to live elsewhere and only visit NYC .... once the rich start realizing that, NYC is really screwed ...”
They have already realized it, and NYC is really screwed. A lot of money left NYC during the Dinkins administration, then Rudy & Bloomberg were able to keep it inhabitable (but still expensive) for a few more years. The city is bleeding Americans and taxpayers (individual and corporate), and has resorted to the “sanctuary city” BS so they don’t have to close down their school system. When DeBlasio’s opponent (a liberal RINO) resorted to harkening back to the Dinkins days as a scare tactic leading up to the election, analysts say it failed because so many people currently in NYC weren’t even there back then (20 years ago); it now has the multi-generational welfare population living next to an imported Third World population. The liberal 1%ers remaining are the target of the new tax scheme, but they have no numbers to oppose it; they will pay, or they will leave.