Reply to NYC would you move in? Would you move out? Once this is over

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[quote=Anonymous]You need to think of COVID-19 as a shock to the system. When a shock happens, trends already underway are accelerated.

WFH is obviously one of the one of the trends turning into a game changer overnight. If you only need to go into the office periodically it makes it much easier to move further away.

COVID also exposed people to the realities of a higher density city under stressful condition. It snapped many people's emotional attachments to New York and start to see the advantages of greener, lower density places.

There was already building frustrations with NYC politics, schools and even rising crime. Schooling is a big issue for middle and upper middle class families who can't afford the private schools. A lot of political pressures to "diversify" the premier high schools causing fears of decline in standards.

Rising cost of living over the past decade was slowly pushing more and more people put.

And there's genuine fears over crime. Many people still remember 1970s-early 1990s New York. Crime is already soaring with the whole defunding the police and demoralization of the police forces. Will it worsen? I don't know but Baltimore is a telling example of crime and murders soaring after the 2015 riots and never going back down. Will the unthinkable happen to New York? Who knows.

The funny thing is that some years ago someone commented to me that all those $1M apartments are one technological innovation away from being wiped down to $500k. And I guess we'll see if that's true, especially with WFH.[/quote]

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