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 ...
NYC is undergoing serious changes.. the tax base is fleeing, few corporations left, information age/remote work, wall st going digital with competition... etc.
Just like brick and mortar college campuses.. with out increasing federal funding they too are going the way of the dodo bird.
No they don’t need proximity to NYC.
I am just finishing my book and I worked with editors and proof readers from all over the country.
We never met face to face save one brief 15 minute Zoom meeting. LOL.
The ‘need’ for a formal corporate office has been fading real fast before the pandemic. You are going to see a real estate crash in the office lease arena. The pandemic just solidified the drive to work from home.
The question is ...what will corporate America pay to set up these employees? They no longer get a home office deduction...so will a perk of going to work for someone include a $1000 budget or more to outfit a home office? Who knows?
Need a more formal situation...simple. Rent a day office, rent a conference room. Need a day away from home to work Regus can set you up.
Naw...there’s a huge shift going to happen and is happening. I have seen it with my own clients the past few years. One is a bank VP and she goes to the office twice a month tops. Lives in Cleveland and commutes to Pittsburgh.
If you could list reasons why it will swing back into the black, then there would be opportunity; the problem is that it is unlikely any time soon.
Where there are still jobs (the financial sector, for example), many are “Americans need not apply”. On top of that, you have a massive (increasingly foreign) underclass that simply wants everything provided for “free”.
The Amazon debacle showed how bad it had become; when they offered a lot of decent jobs, enough of that permanent underclass made enough noise to quash it. They didn’t want jobs in exchange for tax payments; they wanted the tax payments because they don’t want jobs, but still want the goodies.
Although cities can go bankrupt, American states cannot do so unless the bankruptcy code is revised to permit it. Even then, for constitutional reasons, an involuntary state bankruptcy may be prohibited. In any event, the budgets of states in bankruptcy are likely to be put under the control of an appointed financial manager.
I am not a New Yorker, but a Floridian who appreciates the Republican refugees from New York and other venues to the north who helped turn Florida into a Red state.
I saw the future of NY long ago, and got out in 1982. Except for leaving family, I never regretted it...
It doesn’t take many refugees fleeing California and New York to swing a election Blue. Dems concentrating their populace in large cities has helped the GOP for decades.
DeBlasio will just continue to demand billions in relief from Uncle Sam (i.e, Us), and continue to hurt NYC.
I recall a friend saying after the Detroit bankruptcy that problems that caused it could be corrected. My answer is this is unlikely, they have the same voters that caused it, and they will do it again and again. New York is much the same. And taxes will skyrocket, to be paid by fewer and fewer residents.
What about family members and others using the apartment? Security has to be absolute in some jobs.
“Don’t bring your DESTRUCTIVE POLITICS to FLORIDA!!!”
That may be too late!
Fingerprint scanner (built into many laptops), short inactivity timeouts that require relogging to get back in, use of the laptop’s camera to detect who is using the device. It’s not going to be enough for some jobs, but does well enough for most higher security jobs that don’t require you to lock yourself into a carrel or tiny office by yourself.
Takes care of everything but someone looking over your shoulder. But thanks. I wasn’t aware of all those gadgets.
You can put a plastic overlay on any screen that will restrict viewing angle to basically having to sit directly in front of the computer. Here’s one of them: https://www.amazon.com/3M-Privacy-Diagonal-Standard-Monitor/dp/B00028ONIA
>>Although cities can go bankrupt, American states cannot do so unless the bankruptcy code is revised to permit it. <<
Although states cannot declare bankruptcy, they don’t need to. They can just repudiate their debts.
No jobs thanks to the democrat party, you have to move.
Coronavirus Forces 100K NY Small Businesses To Close Permanently
https://news.yahoo.com/coronavirus-forces-100k-ny-small-192934579.html
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