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WestlinnDuck
Member Posts: 15,008 
in Tug Tavern
https://www.reuters.com/article/usa-economy-nyc-idUKKBN28P1Q8
(Reuters) -Millions of people have moved out of New York City during the pandemic, but at the same time, millions of others with lower incomes have taken their place, according to a study released on Tuesday.
All told, a net 70,000 people left the metropolitan region this year, resulting in roughly $34 billion in lost income, according to estimates from Unacast here, a location analytics company.
About 3.57 million people left New York City this year between Jan. 1 and Dec. 7, according to Unacast, which analyzed anonymized cell phone location data. Some 3.5 million people earning lower average incomes moved into the city during that same period, the report showed...
The dual hit to population and income across the city can have lasting consequences for New York City as it recovers from the economic crisis caused by the pandemic, Walle said. “The big question is, ‘How does real estate and retail in particular adapt to that?’” he said. [Easy, just increase taxes and homeless subsidies and encourage antifa and BLM rioting. Oh, and more defunding of the police because that's what Guiliani did to turn NYC into one of the safest big cities in the world.]
(Reuters) -Millions of people have moved out of New York City during the pandemic, but at the same time, millions of others with lower incomes have taken their place, according to a study released on Tuesday.
All told, a net 70,000 people left the metropolitan region this year, resulting in roughly $34 billion in lost income, according to estimates from Unacast here, a location analytics company.
About 3.57 million people left New York City this year between Jan. 1 and Dec. 7, according to Unacast, which analyzed anonymized cell phone location data. Some 3.5 million people earning lower average incomes moved into the city during that same period, the report showed...
The dual hit to population and income across the city can have lasting consequences for New York City as it recovers from the economic crisis caused by the pandemic, Walle said. “The big question is, ‘How does real estate and retail in particular adapt to that?’” he said. [Easy, just increase taxes and homeless subsidies and encourage antifa and BLM rioting. Oh, and more defunding of the police because that's what Guiliani did to turn NYC into one of the safest big cities in the world.]
Comments
Kill the neighborhoods through “Urban Renewall”...build a bunch of high rise public housing...and watch middle income earners flee the city to escape the crime and filth as the manufacturing base abandons city center.
https://pjmedia.com/instapundit/
THE EXODUS IS HERE: New York Lawmaker Begs Goldman Sachs Not to Go to Florida: ‘Please Don’t Leave Us.’
Rep. Thomas Suozzi’s message to the (likely) soon-to-be departing financial firm Goldman Sachs had the sound of an 80s love ballad: don’t go, baby.
“Please don’t leave us,” the New York congressman said on CNBC following news that the multibillion-dollar investment bank is likely to bolt New York City for Florida. “We’re in a desperate time in New York right now. We need you. You’re important to us. We want you to stay.”
There’s no question that New York’s situation is desperate. The state was facing a $13 billion budget deficit and an exodus of people before the coronavirus arrived. The pandemic, and the draconian and bungled response to it from lawmakers, has only made the situation worse.
The 36,000 New Yorkers who died with or of the coronavirus is a higher death toll than 95 percent of the countries in the world, in large part because of Gov. Andrew Cuomo’s order that forced nursing homes to admit discharged COVID-19 patients. Meanwhile, government efforts to slow the spread of the virus have ravaged the state’s economy.
New York’s unemployment rate stands at 9.6 percent, higher than all but two US states, and its aggressive enforcement of lockdowns has devastated commerce. The New York Times recently estimated that one-third of small businesses in the state may be gone forever. Many of the perks of being in New York have vanished, which has hastened the exodus from the Big Apple and resulted in a drain on the greatest of all resources: people.
Related: Tom Wolfe once posited that there were many CEOs “who kept their headquarters in New York long after the last rational reason for doing so had vanished . . . because of the ineffable experience of being a CEO and having lunch five days a week in [fancy expense account restaurants] in Manhattan!” So it’s no surprise that, among the myriad other reasons to flee New York, Andrew Cuomo’s war on restaurants is also helping to accelerate the business exodus.
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His and Cuomo’s behavior is going to return NYC to the late 70s hellhole it used to be. Wonder who the next Republican prosecutor will be to come in and clean it up in a few years?