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Younger generation on average simply has vastly different ideas about work than previous. They just don't see why for instance should have to remain at office for 8 hours when they've finished their work say by 1PM. Nor do they understand why it is necessary to show up at an office five days per week when they have better things to do and can complete assignments while at home or whatever.
What it basically boils down to is we are two or more generations into "gold stars for everyone". Children who never heard the word "no" and were brought up to believe their feelings, wants and needs come first.
My wife’s wfh and my semi-retirement have both improved our lives immensely. Our stress level has dropped significantly, especially on the childcare front. Kid sick? Formerly a very big deal. Now? Barely a blip. Drop offs, pickups, activities… easy. Chores are accomplished during the day allowing for more free time after work hours for real activities. One car gets used so little now that it will probably last us 10-15 years. This list goes on.
NYC’s budget is not out problem. Our household budget is our concern and it’s awesome!
NYC’s cost structure needs to get in line with reality just like private businesses. I don’t think NYC government has done any kind of layoff in over a decade and they need to do so just like businesses to stay lean. Pretty soon the reality is gonna kick in that tickets not enough to offset the amount of revenue drop from taxes and other drop in business activities. Eric Adams should be smart enough to start laying off workers instead of trying to find ways to screw taxpayers and accelerate more people leaving.
NYC has always depended on the younger population to move here but they better plan accordingly because in the next 2 decades we will see a big drop in the younger population.
WFH saves NYC workers $12.4 Billion Per Year who invest it in their own local communities or bank accounts. Fixed the headline for you.
Corporations LOVE saying how workers are a "cost center" who hit their bottom line. It has been proven that WFH saves money for companies by cutting costs on office space rental. So, why the sudden push to WFH? Political pressure by NY politicians who cannot understand the concept of budget cuts.
NYC is getting to become a homeless wasteland like LA or SF, it will not help bring people back. I would say majority of people who work in Wall Street either lives in a protected area or commute outside of NYC. Mass transit and cost of living are the biggest problem with living here so people are taking advantage of WFH.
the entire country is becoming a homeless wasteland.
I suggest NYC provide some incentives for people to spend their money in the city. For example, issue people who pay over a certain amount of NYC taxes a $500 prepaid card that only works in restaurants or retailers in the city. Honestly I make enough money that NY state and city taxes are just an annoyance. But I pay so much into the system and get so little back, the last thing I want to hear is how my WFH is costing the city money.
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