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Not surprising as wages for most have not kept up with cost of housing, and many people refuse to go to nearby cheaper cities and suburbs. A lot of people dont pay their portion of Sec 8 either.
I'm thinking the even bigger issue $'s wise is commercial rent. The number of offices emptying out in NYC, all the economy around them that counted on income from delis to high end restaurants, dry cleaning. It's an absolute mess.
Not surprising as wages for most have not kept up with cost of housing, and many people refuse to go to nearby cheaper cities and suburbs. A lot of people dont pay their portion of Sec 8 either.
It's not that people are refusing to go to nearby cheaper cities and/or suburbs, the problem is that the commuting costs cut into whatever housing costs you're saving, and if you wish to stay close to home, there are not many jobs. Look up commuting costs for Metro-North, LIRR and NJ Transit. Not to mention a 20 mile drive can take 90 minutes with good weather here in the Tri-State area depending on point A to point B, forget about when it snows.
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"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
It's not that people are refusing to go to nearby cheaper cities and/or suburbs, the problem is that the commuting costs cut into whatever housing costs you're saving, and if you wish to stay close to home, there are not many jobs. Look up commuting costs for Metro-North, LIRR and NJ Transit. Not to mention a 20 mile drive can take 90 minutes with good weather here in the Tri-State area depending on point A to point B, forget about when it snows.
I've lived in NYC and the surrounding metro area. That statement is truth. My wife and I moved out of the city just to have a break from it, but she continued to work there. The commuting costs alone ate into most of the budget we saved on cheaper rent - and the time added to her commute made it very difficult to continue working in the city.
I'm thinking the even bigger issue $'s wise is commercial rent. The number of offices emptying out in NYC, all the economy around them that counted on income from delis to high end restaurants, dry cleaning. It's an absolute mess.
A lot of businesses are also finding that they are working fine with remote workers so I would not be surprised to see them maintain that after everything is over where necessary. They can reduce their commercial space, save on workmans comp insurance, etc., etc.
A lot of businesses are also finding that they are working fine with remote workers so I would not be surprised to see them maintain that after everything is over where necessary. They can reduce their commercial space, save on workmans comp insurance, etc., etc.
That's a lie, most offices that have switched the dynamic and are letting people work from home were probably at the end of their lease. It's not because they "woke up," otherwise they would have started WFH before Covid. Most bosses are saying to themselves, "I have 2 years left on my lease and I'm paying for an empty space, I'm going to tell everyone to come into the office so I'm not wasting my money"
Commercial leases in NYC are usually for 5 years or 10 years, I highly doubt businesses were getting let out of their leases so easily.
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"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
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