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I disagree with his assumptions and logic. Basically he is saying because you don’t need to live near work, people will not live in Manhattan.

There are plenty of jobs outside of NYC. Always has been. People live in NYC for the culture and lifestyle. It is a fun place to live. It will absolutely rebound.

This is trivial compared to 9/11. Yet NYC rebounded.

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This article seems to be saying the rich are leaving New York. And the world that caters to them (expensive restaurants, etc.) is suffering. This is true.

But as you say falling rents offer more opportunities for the culture and lifestyle aspects of the city.

Also, this post rattles off a bunch of negatives, but fails to offer any alternative to rival NYC. South Florida or Phoenix? Maybe one, but certainly not yet.

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