More taxes. Less service.
Everything is outrageously expensive.
Middle class gets crushed.
If you've wealthy, no point in having your main residence in NYC (see, more taxes).
Will get worse before it gets better.
Everything is outrageously expensive.
Middle class gets crushed.
If you've wealthy, no point in having your main residence in NYC (see, more taxes).
Will get worse before it gets better.
I moved out of New York City in 2020. The overriding reason was not this, it was just a fluke that I got a very compelling out of state job offer in 2019, and they requested I move in 2020.
However, I am making about about $150-$160k as an SWE, and it goes a lot further here (although having to spend $700-$800 a month for a car, which I did not have to do in NYC, bites into that a little). I have a new, big, apartment with a front door to a tree-lined street in a nice walkable neighborhood near my workplace for less than $2000 a month. In New York I would have an older, smaller apartment on a higher floor in not as nice of a neighborhood for more a month.
I know people say to move to the Bay area because that's where the action is for tech jobs and where you make connections etc., but I don't see why not take a step on a way for a decent paying job in a cheap city where you can accumulate savings while your skillset is increasing.
The juniors/associates I work with making <$100k a year say they can barely afford their expenses now here. I don't know what they'd be doing in the Bay Area or New York. They have roommates too.
I saved up a ton of money down here, and gained experience as well. If I move back to New York (or to the Bay Area), I do so on surer footing - I have a lot of money saved up for a rainy day now.
It also makes for a situation where those with lower income - even associate/junior SWEs at Fortune 100 companies - can't afford to live in cities like NYC, San Francisco etc.
My boss did similar until he nearly lost his mind WFH with a working spouse and toddler all running around the room.
Meanwhile my current team is remote and my 24 year old coworker in Miami rents a 2 bedroom with his non-working wife. This is, I cannot stress this enough.. completely unheard of in NYC.
If voters like expensive housing, I guess we'll keep getting expensive housing.
Most famous people you know have enough flexibility that they can be in their West coast / Florida / Mountains / Beach / Westport / Greenwich / Short Hills / etc home 183+ days per year.
And, really, general quality of life. When you just want to spend quiet time at home, somewhere outside of the big city is going to provide something more quiet and comfortable. And when you want to do the things that the city uniquely has to offer, you go there while you do those things. NYC, nor anywhere else you might want to be, is certainly not walled off to outsiders. There is no advantage to being there all the time.
Sure Mr Tribeca might have had an awesome loft in Tribeca, but he also has like a 100 acre estate on the Hudson. And a place in Montauk. And and and..
“In the pandemic’s wake, we see an altered population and it raises longstanding concerns about the cost of living, the growing wealth gap, the need to preserve a strong middle class, and the challenges of serving an aging population, while ensuring that families are able to raise their children here. We need the city to remain competitive on the world stage and a place where people want to move, put down roots and thrive.”