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Exodus from NYC: The young join the rich in ditching the Big Apple as the coronavirus economic downturn drives professionals out and companies accept staff permanently working from home
UK Daily Mail ^ | May 23 2020 | KAREN RUIZ

Posted on 05/23/2020 11:58:00 PM PDT by knighthawk

Young people are joining the rich and are fleeing New York for the suburbs after the coronavirus lockdown left many professionals reconsidering city life as companies begin to permanently adopt work-from-home models.

As COVID-19 gripped the country in mid March, residents of New York City's wealthiest neighborhoods fled to ride out the lockdown at their vacation homes, while many young people hunkered down in the suburbs with their parents.

Some were forced to break their leases and move back to their hometowns because they could no longer afford the city's exorbitant rent prices after losing their jobs, while others have continued paying for their cramped city apartments while they shelter elsewhere.

(Excerpt) Read more at dailymail.co.uk ...


TOPICS: News/Current Events; US: New York
KEYWORDS: coronapanic; coronavirus; newyork
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To: redshawk; Spktyr

Now, that’s not to say there won’t be those that screw it up. But people screw it up for systems at corporate offices, too.


21 posted on 05/24/2020 1:42:14 AM PDT by FreedomPoster (Islam delenda est)
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To: knighthawk

Sounds like NYC taxes are going to dwindle.


22 posted on 05/24/2020 1:44:09 AM PDT by gitmo (If your theology doesn't become your biography, what good is it?my)
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To: Spktyr

I doubt it. There’s only one New York. Just like London. Paris. Moscow. London went through a Plague many times and bounced back each time. Even if it takes a decade or two, inevitably New York will be back at the top.


23 posted on 05/24/2020 1:46:49 AM PDT by MinorityRepublican
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To: knighthawk

I think I would have moved out long before this quarantine.


24 posted on 05/24/2020 1:49:07 AM PDT by gitmo (If your theology doesn't become your biography, what good is it?my)
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To: MinorityRepublican

There are more historic examples where a city destroyed was rebuilt but never made it back to the top of the heap than there are on your list.


25 posted on 05/24/2020 1:57:56 AM PDT by Spktyr (Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
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To: FreedomPoster; redshawk

Yup. It won’t be any worse than what goes on at corporate offices and probably a lot better.

For example, nothing is going to stop some idiot from installing an “Internet accelerator box” that they got from eBay that really is a remotely operated packet sniffer. People are idiots.


26 posted on 05/24/2020 2:00:59 AM PDT by Spktyr (Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
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To: MinorityRepublican


There’s only one New York.

There’s only one Motor City




27 posted on 05/24/2020 2:01:30 AM PDT by 867V309 (Lock Her Up)
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To: Gene Eric

But what level of commerce will NYC have after the coronavirus, what will be the prevailing commercial rental rates and terms, and what will the tax rates be? Happy answers cannot be assumed. Eventually, NYC will reinvent itself and make a comeback, but a lot of NYC commercial real estate owners will go broke in the meanwhile.


28 posted on 05/24/2020 2:07:22 AM PDT by Rockingham
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To: knighthawk

Fortunes were made in the last great depression buying property at firesale prices
My prediction: once the economy is sufficiently destroyed, the “all clear” will sound and the vultures will swoop in.

Btw that is the model the Chinese have used for decades _ low-ball the competition until they told

It’s a long-game strategy but it works.


29 posted on 05/24/2020 2:19:05 AM PDT by P.O.E. (Pray for America)
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To: matt04

New York’s allure depends in large part not just on the big draws like the Met, MOMA, Yankee Stadium, the Gardens, Broadway, etc., but also on its abundant restaurants, bars, clubs, coffeehouses, and specialty shops. Many of those are thinly capitalized and reliant on sweat equity and cheap labor to survive. The pandemic is wreaking havoc on those businesses, leaving many bankrupt. It will take years to replace those businesses, with the attractiveness of NYC suffering badly until then.


30 posted on 05/24/2020 2:19:40 AM PDT by Rockingham
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To: P.O.E.

Told s/b fold


31 posted on 05/24/2020 2:21:15 AM PDT by P.O.E. (Pray for America)
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To: 867V309

Motor City is an industrial city in the Midwest. A big difference.


32 posted on 05/24/2020 2:23:43 AM PDT by MinorityRepublican
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To: knighthawk

I was talking to someone about the impact of the lockdown on urban areas. I live in the sticks, but work in a city 75 miles away. The only impact of the lockdown on me is that now that I WFH I save a three hour commute every day and a tank of gas every two days.

But for urban residents, ALL of the reasons for living in the city - every single one - has been stripped from them. And in many cities, there is no end in sight.

Another factor may be this. Now that those things have been stripped, there may be a large contingent that realized they don’t need all that stuff. They had their “come to Jesus” moment, thanks to this nonsense, and prefer to live somewhere quieter and with more freedom.

i.e. this will leave a mark.


33 posted on 05/24/2020 2:26:28 AM PDT by cuban leaf (The political war playing out in every country now: Globalists vs Nationalists)
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To: Gene Eric

Man, I wish I had some money to make some more money! LOL!


34 posted on 05/24/2020 2:30:51 AM PDT by proud American in Canada (In these trying times, Give me Liberty or Give me Death!)
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To: Rockingham


with the attractiveness of NYC suffering badly until then.

problem is, the big sewer has long term problems.

the biggest is political. and given the depressing ethnic/IQ composition, the future is bleak


35 posted on 05/24/2020 2:34:36 AM PDT by 867V309 (Lock Her Up)
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To: 867V309

They used to have a program that allowed people to invest one dollar. They’d get in return, a dilapidated house that people had to promise to live in and renovate over the course of one year.

It was a program meant to restore the vitality of the downtown area.

I can’t remember why I didn’t invest, but if they have something similar, I’d do it today.


36 posted on 05/24/2020 2:38:59 AM PDT by proud American in Canada (In these trying times, Give me Liberty or Give me Death!)
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To: Spktyr

Please see my post 36. It’s about Detroit.

Interestingly, when my great, great-grandfather left Czechoslovakia for the New World, he and his brothers got into a huge fight. Most stayed in Detroit while my side of the family went on to Chicago where I was eventually born.


37 posted on 05/24/2020 2:45:35 AM PDT by proud American in Canada (In these trying times, Give me Liberty or Give me Death!)
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To: 867V309

True enough, but New York City has overcome those kinds of problems before. I am not so much an optimist about New York as I am an optimist about Americans and America. Give us a generation or so and we manage to solve even seemingly intractable problems.


38 posted on 05/24/2020 2:46:57 AM PDT by Rockingham
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To: knighthawk

New York City has nothing the rest of America needs. With the rich and young fleeing it, only the poor are trapped there. It will be America’s biggest slum. A city so densely populated is inherently unhealthy.

Yes, there may be only one New York City just like there is only one Calcutta, India.


39 posted on 05/24/2020 2:47:07 AM PDT by Gnome1949
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To: MinorityRepublican


Motor City is an industrial city in the Midwest. A big difference.

right

detroit actually made things

nyc produces more feces than anything else

electronic communication will eventually eliminate all need for humans to congregate in infectious, inhumane density like nyc


40 posted on 05/24/2020 2:51:12 AM PDT by 867V309 (Lock Her Up)
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