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I think most of the big corporations will leave because there are troubles constantly brewing. The new laws, the people, the unchecked criminal elements, and the politics are too big of a liability now for all businesses.
It’s not even a place that supports the best and the brightest people anymore. When peoples opinions and thoughts are relentlessly censored, the whole New York state of mind is no longer sustainable. It’s a mediocre big city now, unless you can somehow prove otherwise.
There was major corporations here even when organized crime was at its heyday, when the crack boom happen,
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Originally Posted by BobNJ1960
I wonder how many re-open.
This year for NYC metro has been the perfect bad storm.
If a lot of vacancies, rent will just go down. There is always positives.
NYC will never be Detroit. That's silly. But it's true that the "heyday" of NYC for this phase of the 21st century at least may be over for all the obvious reasons. I'd say it peaked around circa 2013, just from my standpoint. Even a good couple of years before Covid, people and businesses were leaving due to prices that were just astronomical, and on top of that, technology has allowed "office world" to decline a bit. Now that Covid has happened some people won't return to offices period. Add on the riots NYC residents had to witness, and you can bet that won't help matters at all. Lastly, one thing that has absolutely gotten worse in NYC is the homeless, which can't be surprising in a city controlled by the disaster that is Bill Deblasio.
These move-out numbers are staggering, & its not even peak moving season yet.
Has NYC has passed its population peak?...Is it all downhill from here...like Detroit & Cleveland? Are Democrat policies unsustainable long term, or are humans just not meant to live so close together in large numbers?
There really aren't many areas of Staten Island with taxes around $12,000 a year unless it is a home worth $1,000,000. Long Island? Yes, but Staten Island and NYC, not so much (NYC does have a city income tax, but the property taxes itself are actually lower than most of the region)
$12k a year for an average house would be more like Jersey.
NYC will never be Detroit. That's silly. But it's true that the "heyday" of NYC for this phase of the 21st century at least may be over for all the obvious reasons. I'd say it peaked around circa 2013, just from my standpoint. Even a good couple of years before Covid, people and businesses were leaving due to prices that were just astronomical, and on top of that, technology has allowed "office world" to decline a bit. Now that Covid has happened some people won't return to offices period. Add on the riots NYC residents had to witness, and you can bet that won't help matters at all. Lastly, one thing that has absolutely gotten worse in NYC is the homeless, which can't be surprising in a city controlled by the disaster that is Bill Deblasio.
Technically 2016 was the last up year for population growth but it was basically leveling off by then. 2015 was the last solidly up year. So for at least the past 3 years of complete records it has been steadily loosing people and not much question 2020 will be a bloodbath. Instead of 20-30k they could easily find that 200-300k people have left. So, 4 years in a row is no fluke. That's a trend. 2020's could end up being the 1970's all over again.
Technically 2016 was the last up year for population growth but it was basically leveling off by then. 2015 was the last solidly up year. So for at least the past 3 years of complete records it has been steadily loosing people and not much question 2020 will be a bloodbath. Instead of 20-30k they could easily find that 200-300k people have left. So, 4 years in a row is no fluke. That's a trend. 2020's could end up being the 1970's all over again.
I am respectfully saying and can also 99% guarantee you that last line will not be true. NYC is a completely different ballgame right now when compared to where it was in let's say 1970 before it fell into despair. There has been a solid foundation built from the days of Rudy and then Bloomberg and that is not going to change anytime soon.
Rent will go down, people will eventually move in. Maybe they won't be upper class citizens and celebrities but they will be people. Will NYC be what it was in it's heyday of late 90s thru early 2010's? No. But that doesn't mean it's going to turn into some sort of dump.
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Originally Posted by GoCardinals
Left Long Island 5 years ago as well.
2 Bedroom apartment in Smithtowon cost around $3500 a month.
Was the apartment made of 24k gold? I've lived on LI my entire life and can tell you that's on the extraordinarily high end for a 2 bedroom apartment in that town.
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