WFH Costs NYC $12.4 Billion Per Year (Albany, Adams: transplants, home, neighborhood)
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Largely due to employees of all sorts not commuting into Manhattan five days per week NYC is taking a financial hit. If, when, until or unless things reverse city will see a permanent decrease in revenue that won't be easily made up elsewhere.
Some wfh arrangements will stay forever. Some jobs just don’t need people coming in at all.
So good luck with that and I’m happy for people who don’t have to commute.
Maybe they can get tax revenue from all the illegals the officials welcomed so much. Enjoy your sanctuary city policies.
With all the lay offs that are taking place in banking and tech, I don’t see this turning around anytime soon.
Blue city politicians doubly failed. First, they want to locked everyone down with force. Now they want everyone back. #FAIL
The answer is we need to chop the government budget in half resulting in a smaller government. Too much pork barrel spending
It was like pulling teeth before covid getting some younger people in office five days per week. That shut down was just what they needed to justify not having to come in, they're not going back to old model either.
Quite frankly there's not much anyone can do to force end of WFH either. Last of "old people" aka the Boomers are either gone or heading out the door. What's left of that generation in WF and or generation behind are just as woke.
Jamie Dimon and rest can push all they like; but talent can and will walk if not happy. If you've got a BSD who is a rain maker and doesn't want to come in five days a week are you really going to risk pi$$ing him off and having him walk?
It was like pulling teeth before covid getting some younger people in office five days per week. That shut down was just what they needed to justify not having to come in, they're not going back to old model either.
Quite frankly there's not much anyone can do to force end of WFH either. Last of "old people" aka the Boomers are either gone or heading out the door. What's left of that generation in WF and or generation behind are just as woke.
Jamie Dimon and rest can push all they like; but talent can and will walk if not happy. If you've got a BSD who is a rain maker and doesn't want to come in five days a week are you really going to risk pi$$ing him off and having him walk?
All good but if the FED manages to keep raising rates and putting us back into recession, then employers will have way more power and who knows, it may shift again.
I think people should just accept more flexibility overall, including going back to the office, but I'm one of those "old people" now maybe my opinion doesn't matter anymore.
All good but if the FED manages to keep raising rates and putting us back into recession, then employers will have way more power and who knows, it may shift again.
I think people should just accept more flexibility overall, including going back to the office, but I'm one of those "old people" now maybe my opinion doesn't matter anymore.
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.
What will eventually happen in Manhattan is that the only people working in Manhattan will be those who live in Manhattan (or some hip Brooklyn neighborhood that is gentrified). Congestion pricing, inadequate transit, and the influx of more transplants will all seal Manhattan's fate.
What will eventually happen in Manhattan is that the only people working in Manhattan will be those who live in Manhattan (or some hip Brooklyn neighborhood that is gentrified). Congestion pricing, inadequate transit, and the influx of more transplants will all seal Manhattan's fate.
Transportation system in Manhattan is fine.
Plenty of Manhattan residents aren't going into office much if they can help it either (WFH).
Congestion pricing will be a dud if planned numbers of commuters from outside Manhattan do not drive into town.
People long have moved to Manhattan, NYC (transplants) and will continue doing so. More so over decades if Adams and Albany succeed in their plans to turn tons of commercial space into housing.
Anyone who believes those schemes are all about moving hordes of poor and or minorities into prime Manhattan areas (below 96th street) wants their heads examined. Costs involved will still be what they are and that means good amount of whatever housing will be for upper middle and above households. Everyone else will be fighting for scraps.
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