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Fleeing New Yorkers resulted in an estimated $34B in lost income – study

reuters.com

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Re: Fleeing New Yorkers resulted in an estimated $34B in lost income – study

#41

Post by bluedino »

ABCLAW wrote: post #28
sqrt17 wrote: post #5

How about: US citizens saved $34B by not having to stay in the highest COL areas? Why should we sympathize with a minority of rent-seekers?

>Why should we sympathize with a minority of rent-seekers? I don't really think this is about sympathizing with rent-seekers. Cities invest in infrastructure to cover anticipated service delivery well before it's due, and the financing for doing so is a multi-decade affair. Before you complain, this includes things like providing running water, roads that are paved, etc. Really core essential pieces of making a city…

>> While the US is very young and doesn't have many large examples of this, Flint and Detroit come to mind.

You mean “most of the rust belt”

Re: Fleeing New Yorkers resulted in an estimated $34B in lost income – study

#42

Post by raverbashing »

snissn wrote: post #9

i tried to negotiate being month to month at my manhattan apt at the same rate and my land lord wouldn't accommodate me. Now the apt has been unrented for a few months and they're asking for a 10% drop in rent and probably won't get it for a long long time. happily commenting from hawaii

Real estate, being a straightforward investment attracts those who couldn't be making more money at pretty much any other type of investment.

Hence you get the most clueless people managing the properties.

Re: Fleeing New Yorkers resulted in an estimated $34B in lost income – study

#43

Post by yurielt »

DeonPenny wrote: post #32
Firebrand wrote: post #8

3.57 million people left New York City this year to live out their lives in comfort someplace else, and then 3.5 million people hungry for opportunity arrived to take their place. I hope to see similar results in San Francisco.

Theres not an infinite amount of rich and successful people 1% of NYC population pays 50% of taxes. These people aren't replaceable.

Rich people are repleaceable not in the short term but they are very much repleaceable specially rent seekers and those whose earnings come only from owning which describes most of the non financial and some of the financial elite of the city

Re: Fleeing New Yorkers resulted in an estimated $34B in lost income – study

#44

Post by [deleted] »

snissn wrote: post #9

i tried to negotiate being month to month at my manhattan apt at the same rate and my land lord wouldn't accommodate me. Now the apt has been unrented for a few months and they're asking for a 10% drop in rent and probably won't get it for a long long time. happily commenting from hawaii

[deleted]

Re: Fleeing New Yorkers resulted in an estimated $34B in lost income – study

#45

Post by neckardt »

CalRobert wrote: post #37
ABCLAW wrote: post #28

Earlier quoted context omitted.

>Why should we sympathize with a minority of rent-seekers? I don't really think this is about sympathizing with rent-seekers. Cities invest in infrastructure to cover anticipated service delivery well before it's due, and the financing for doing so is a multi-decade affair. Before you complain, this includes things like providing running water, roads that are paved, etc. Really core essential pieces of making a city…

"While the US is very young ".... What's that? By what measure? It's one of the oldest continuous governments out there.

The government may be one of the older ones, but many cities are far, far older. Many cities in Europe have been around for thousands of years.

Re: Fleeing New Yorkers resulted in an estimated $34B in lost income – study

#46

Post by sneak »

hn_throwaway_99 wrote: post #3

I've been seeing more of these types of stories with a line like this: > About 3.57 million people left New York City this year between Jan. 1 and Dec. 7, according to Unacast, which analyzed anonymized cell phone location data. Sorry, but I don't really trust the "anonymized" very much. Why should some company I've never heard of have access to my cell phone location data in the first place.

> Sorry, but I don't really trust the "anonymized" very much. Why should some company I've never heard of have access to my cell phone location data in the first place.

If you don't have location services turned off on your phone, chances are they have access to it because you gave it to them (via an app), or gave it to someone who gave it to them.

Re: Fleeing New Yorkers resulted in an estimated $34B in lost income – study

#47

Post by Exmoor »

The most eye-raising part of this data to me is that 3.5 million people apparently decided 2020 was the perfect year to move to New York. Even if I thought NYC was the place I wanted to live more than anywhere else, I would still heavily consider delaying that move in light of the current health and economic situation. The information on who those people are would be interesting to me.

Re: Fleeing New Yorkers resulted in an estimated $34B in lost income – study

#48

Post by ruddct »

> About 3.57 million people left New York City this year between Jan. 1 and Dec. 7, according to Unacast, which analyzed anonymized cell phone location data. Some 3.5 million people earning lower average incomes moved into the city during that same period, the report showed.

Uhhh I'd take this with a HEAVY grain of salt, given that it's based off of anonymized cell phone location data. Were this true, 40% of NYC's population has turned over in the past year, which feels like absolute nonsense from anecdotal experience.

Re: Fleeing New Yorkers resulted in an estimated $34B in lost income – study

#49

Post by sneak »

db48x wrote: post #6
hn_throwaway_99 wrote: post #3

I've been seeing more of these types of stories with a line like this: > About 3.57 million people left New York City this year between Jan. 1 and Dec. 7, according to Unacast, which analyzed anonymized cell phone location data. Sorry, but I don't really trust the "anonymized" very much. Why should some company I've never heard of have access to my cell phone location data in the first place.

Your cell phone company sells it to whoever wants it.

They're supposed to have stopped, but I'm not sure I believe it.

https://www.wired.com/story/fcc-fines-wireless-companies-sel...

Re: Fleeing New Yorkers resulted in an estimated $34B in lost income – study

#50

Post by john_moscow »

I think, this highlights a bigger problem. You can very roughly split people's mindsets into 2 groups:

* Long-termers. They don't mind delayed gratification. They like planning and saving for the future. Most have complex multi-year degrees or have business experience. They are generally happy with life and want to teach their ways to their kids. What they want from the political environment is a clear set of rules (e.g. taxes, laws backed by a truly independent court system) with minimum interference in their lives.

* Short-termers. They prefer instant gratification. They gather credit card debts on impulsive purchases. They live here and now don't want the headache of long-term planning. They are usually less happy with life and expect politicians to appeal to their emotions. Recognize them through identity gestures, say great words, show attention.

Long-termers tend to earn more, except something in our society changed, and they are quickly becoming a dying breed. So many new social policies, especially in high-density areas, are targeting short-termers and blaming long-termers for inequity. Quite predictably, they are leaving these areas, driving the median income lower.

But, what's even more alarming, the same trend is happening all over the West - the middle class of happy independent thinkers satisfied with life, is vanishing, replaced by unhappy low-earners driven by divisive tribal instincts.

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