When I toured Manhattan in 2019, the same thing occurred to me. A huge percentage of the jobs there these days are people sitting at computers. Those jobs could easily be done in a lot of other places a lot cheaper.
Good point. If there’s not a need to physically be in that location, why absorb the high costs of doing business in New York?
How many people have unique New York jobs? Stockbrokers on Wall Street? People who work in advertising and publishing have a big presence in NY. But do they have to physically have their offices there, for the actual work they do?
Yeah, but New York has the best nudie bars for entertaining those potential Saudi and Chinese clients.
NYS and NYC already have had a good outflow of people to lower cost/lower tax/better weather states. They are losing 2 reps in the next reapportionment.
The Corona crisis will hasten this trend quite a bit. The downside it that this could help the Dems electorally in Florida as liberals head south.