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Because Philly has lower taxes plus cheaper real estate. Also a lot of nice suburbs. The extent of the riots there wasn't nearly as bad as in NY plus outside of Philly it's also easier to own a firearm in PA than it is anywhere in NY.
Understand all that. Just sayin, same problems on a smaller scale. NYC can always lower rents to bring people back. The problem is according to the OP video is that employees working from home and not having to go into the office is what will keep the city from rebounding.
And if "work at home" works for NYC it would eventually work all around the country, so every major city could face the same demise. Office buildings with very few occupants.
As stated....NYC has been resilient. BUT, they have never faced something called bandwidth before.
Plus, it sure doesn't look like the people in charge of the city are in any hurry to get things rolling again. From where I sit, read and look...not much concern over it either.
‘A great civilization is not conquered from without until it has destroyed itself within”
Some people have been saying the same about NYC and for that matter, the US, too, since forever.
And they have been mistaken.
As an aside, The Trump and Kushner Orgs will be in a world of financial hurt if NY never recovers from the Covid shock. They are the tip of big real estate money in the city.
Domestic and international tourism and hospitality have substantially declined throughout the US and world.
Disney recently reduced their hours from an already reduced schedule in peak season. The “ open and they will come” strategy did not work. Tourism is half the economic engine in Florida.
Tourism is the second largest employer in Alaska. Most tourists arrive by cruise ship. How long will it be before millions are comfortable boarding a cruise ship?
No question many businesses have realized they don’t need as many employees and/ or as many employees in one physical place to achieve their objectives. This was inevitable, given technology. The potential impact on commercial real estate, regardless of location, could be serious in many areas. Does not mean the masses are packing up and heading for rural America.
Last edited by middle-aged mom; 08-22-2020 at 01:34 PM..
New York City has a covid positivity rate of .7%. POINT SEVEN.
And DeBlasio still says there's no timeline for indoor dining.
Covid was horrific to NYC - but DeBlasio is worse.
Yes. .7% And prior to this it hovered around 1% for weeks and weeks, amidst protests, block parties, and young people flouting all guidelines. And then it lowered still to .7, where is it hovering amidst lots of unsanctioned gathering. Soon it may gradually go down to .5...and so on. And Diablo and Cuomo will still act like it is April. And if it becomes .05% they will still keep restrictions because somewhere else there is Covid. Until November....then who knows.
Cuomo is writing a book about how to crush the curve. It should be called "How to Crush a State" with a foreword by DiBlasio
Location: New Albany, Indiana (Greater Louisville)
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I'd guess two types of people are leaving NYC right now: office workers who can work remotely and poor unemployed. Most likely outcome is a good chunk of the remote workers return after a while, the poor likely stay in their new low COL states.
As stated....NYC has been resilient. BUT, they have never faced something called bandwidth before.
Plus, it sure doesn't look like the people in charge of the city are in any hurry to get things rolling again. From where I sit, read and look...not much concern over it either.
‘A great civilization is not conquered from without until it has destroyed itself within”
There's no better quote to describe the presidency of Trump. He's trying to destroy every government institution by nominating and installing those who have the complete opposite interests to those agencies. He makes cuts to programs and agencies that are vital to this country. He allows a deadly virus to run amok in the United States, killing 175k americans. He's leading the way for america to have the biggest economic collapse since the great depression. What foreign enemy could possibly have accomplished something so monumental? MAGA!
The Democratic Politicians have done more to destroy the City, long term, than the World Trade Center Attack❗️
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