Anonymous wrote:This may sound classist and some may flame "this is why we're leaving the shark tank!" From what I see from ppl we know, those who were barely hanging on to living in NYC esp Manhattan (renting, couldn't afford to own, no car, no weekend house...) are the ones packing up to leave now for good. Those who could afford living here comfortably before are now at their country house, may stay there for a year or may buy/rent and move to Scarsdale/Utah/FL/wherever they deem better for a pandemic escape for a year, but they are not selling their NYC home and plan to return in 1-2 yrs.

I love how anyone who is renting even a 3br at $9k/month is barely hanging on as long as they have no car, no weekend house and can’t afford to own the equivalent. So sad.

This may sound classist and some may flame "this is why we're leaving the shark tank!" From what I see from ppl we know, those who were barely hanging on to living in NYC esp Manhattan (renting, couldn't afford to own, no car, no weekend house...) are the ones packing up to leave now for good. Those who could afford living here comfortably before are now at their country house, may stay there for a year or may buy/rent and move to Scarsdale/Utah/FL/wherever they deem better for a pandemic escape for a year, but they are not selling their NYC home and plan to return in 1-2 yrs.

https://www.nytimes.com/2020/07/07/nyregion/nyc-unemployment.html

Very concerning. NY may struggle for a long time to recover. Decades. I don't like to lend myself to sensationalist thinking but I have a feeling things are not going to get better for NYC and will only get worse and worse as the problems mounts slowly over time.

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.

Anonymous wrote:This was written in 2015.. and the title gives me creeps...sounds so ominous..


You think New York is crowded NOW? Just wait until 2020

https://www.brickunderground.com/blog/2015/04/new_york_population_boom

This isn't what most of NYC and even specifically Manhattan looks like. Most parts have neighborhoods that have parks and quaint restaurants. Of course right now, every place is far less dense with people.

Anonymous wrote:Once I get one more promotion at work, at least before covid, I was expected to move to NYC. I'm still anticipating that to happen, I just hope it means the prices are lower for me. I dream of living on the UWS on Riverside drive.

Prices are coming down. Put in your parameters on Steeteasy.com and you can watch properties there.

Anonymous wrote:

Anonymous wrote:We would move back to NYC in a heartbeat if work allowed. None of our friends in the city have any intention of leaving.

I wouldn’t. It’s very stressful there now for my friends & family. And I love it there too.

I'm here now and I find it so easy. Everything is delivered. Easy access to parks so we get out with masks every day. People are being super careful about social distancing.

Anonymous wrote:We would move back to NYC in a heartbeat if work allowed. None of our friends in the city have any intention of leaving.

I wouldn’t. It’s very stressful there now for my friends & family. And I love it there too.

Once I get one more promotion at work, at least before covid, I was expected to move to NYC. I'm still anticipating that to happen, I just hope it means the prices are lower for me. I dream of living on the UWS on Riverside drive.

I would have moved there before this happened in a ny heartbeat but now, NO!!! I'm suffocating in my huge house. I would die in an apartment.

NYC has this mythology of being a mecca, but I think a lot of non-natives are there for the same reason they're in DC -- jobs. And like DC, many in NYC who are only there to further their career are pining for the day they can jump ship back to their hometown or another LCOL place. COVID-19 is just lighting the fuse to make distant plans a near-term goal. In other words, the people who leave were always going to leave. The people who stay were always planning to stay. The people moving in were always going to move in.

I think one big question is whether the jobs all come back to Manhattan now that people are used to working from home. If the jobs don't come back, fewer people will want to live there. Also it is not clear how well the cultural institutions will survive, which could impact the pied-a-terre market. I say this as someone who may be selling my dad's apartment sometime in the next few years so I hope I am wrong.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We would move back to NYC in a heartbeat if work allowed. None of our friends in the city have any intention of leaving.

Same. Grew up there and still the best white collar job market.

Grew up there as well.

I’d say the stats would show that NYC gets smoked by the west coast tech centers for the best white collar job market.

Any new list on this topic would show you that the sun belt cities are creating and have been for the past 10 years the most white collar jobs

PP here - wasn't about a debate about the most - it was about the best.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We would move back to NYC in a heartbeat if work allowed. None of our friends in the city have any intention of leaving.

Same. Grew up there and still the best white collar job market.

Grew up there as well.

I’d say the stats would show that NYC gets smoked by the west coast tech centers for the best white collar job market.

Any new list on this topic would show you that the sun belt cities are creating and have been for the past 10 years the most white collar jobs

Anonymous wrote:

Anonymous wrote:We would move back to NYC in a heartbeat if work allowed. None of our friends in the city have any intention of leaving.

Same. Grew up there and still the best white collar job market.

Grew up there as well.

I’d say the stats would show that NYC gets smoked by the west coast tech centers for the best white collar job market.