Miamiairport wrote:I don't see offices returning to the level once were. Getting into Manhattan often means a drive to station then commuting on a train, easily one hour plus per way. Sometimes a car/bus/train combo. Not to mention office space is expensive. I see employers allowing more WFM and needing less office space. Workers being required to come into the office 1-2 a week.
The other issue is that the moronic mayor doesn't seem to want to help NYC come back. He seems more enthralled with being a dictator and punishing those that provide the lion's share of taxes to the city. Possibly next year if NYC votes him out and someone else in the city will recover. But as long as de Blasio is around it's not gonna happen.
I lived in Manhattan for 17 years and glad I'm no longer living there. Most of my friends of means have moved or headed for beach homes full time. It seems as though the city will be full of people that are trapped there. It's an easy place to get trapped. You spend all your money living and don't have the financial means to start over again somewhere else.
Now you have the Governor of Texas telling the NASDAQ that they plan to have a state constitutional amendment banning state income tax. If NASDAQ moves so will the remaining of the financial district. That has a knock on effect that other related businesses see no reason to maintain a (expensive) presence in NYC. The mayor should be doing everything he can to keep business but this imbecile is too busy putting out videos showing how to put on a mask.
Sold my Suburban Indianapolis house 4 weeks ago to a guy originally from the area who was desperate to get his family out of NYC, and his kids out of the nightmare the schools have become. All cash, 7 day close. The movement out of NYC is real. It remains to be seen what kind of effect it will have long-term, but a significant percentage of those who drive the city have fled, with no intention of ever returning.