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* Young families who were considering moves to the suburbs have been given the push they need, real estate experts say
* Singletons who can now work remotely from anywhere are also eyeing less expensive cities with better weather
* One real estate business told DailyMail.com they receive 'hundreds' of inquiries a week from people trying to
leave
*It raises questions of how the city's tax income will be affected by an exodus
*It is unclear how and when the city will reopen and which businesses will even be able to open their doors again after weeks with no income
Wonder if this well help the cost of living in NYC decrease and make it more affordable for normal people? If AOC didn't run Amazon away the city would still be able to benefit from having all those new jobs available soon
For what Amazon is hiring for (tech) there already exists a pretty big base for. People just know the name Amazon. There's also Google, Facebook, Palantir, Time Warner/HBO, Salesforce, etc. etc. Long term it's a wash.
Really it's a short term outlook. The city will evolve, though we might not know how in the interim. We'll see what happens. I'm hoping prices fall on residential real estate so I can buy low!
For what Amazon is hiring for (tech) there already exists a pretty big base for. People just know the name Amazon. There's also Google, Facebook, Palantir, Time Warner/HBO, Salesforce, etc. etc. Long term it's a wash.
Really it's a short term outlook. The city will evolve, though we might not know how in the interim. We'll see what happens. I'm hoping prices fall on residential real estate so I can buy low!
That and their gazillion subsidiaries.
I think there's a decent chance that tech workers are going to make a killing in the NYC real estate market as the recessions hits especially if NYC has a lot desperate landlords with limited employable skills living mostly off of rent from properties, and have overleveraged themselves without saving up much for a few rainy quarters.
We’re certainly considering it. My wife wants out bad and I’ve hated this city for a long time.
Well, do any of your relatives or close buddies want to stay in the city and might want to live in your digs? I think you've said you're a property owner. If people are fleeing, then that means you're going to lose a lot of equity and managing a single rental to a rando from afar, given the possibly severe drop in rent prices, might not be worth it. Probably best if you're moving away that you could rent to someone you know and trust and sell some years later.
* Young families who were considering moves to the suburbs have been given the push they need, real estate experts say
* Singletons who can now work remotely from anywhere are also eyeing less expensive cities with better weather
* One real estate business told DailyMail.com they receive 'hundreds' of inquiries a week from people trying to
leave
*It raises questions of how the city's tax income will be affected by an exodus
*It is unclear how and when the city will reopen and which businesses will even be able to open their doors again after weeks with no income
Wonder if this well help the cost of living in NYC decrease and make it more affordable for normal people? If AOC didn't run Amazon away the city would still be able to benefit from having all those new jobs available soon
It took NYC a good 20 years or more to attract educated people to move here for work from across America. It was a good gamble and a great bet. Now due to covid, nyc whole world has turned upside down. Now nyc is going to get hit hard anally. But the hard hit will be only temporarily. I already know of educated millennial transplants who are planning on moving here to Bloomfield NJ after the pandemic ends.
Rents will drop in NYC. Also commercial office space will decline due to employers having employees to work from home until a vaccine is available. A vaccinated most of America won't happen until 2022. Commercial and office real estate prices to drop as well.
Well, do any of your relatives or close buddies want to stay in the city and might want to live in your digs? I think you've said you're a property owner. If people are fleeing, then that means you're going to lose a lot of equity and managing a single rental to a rando from afar, given the possibly severe drop in rent prices, might not be worth it. Probably best if you're moving away that you could rent to someone you know and trust and sell some years later.
I probably won’t leave just yet, so hopefully values either won’t drop much or will recover by then. Regardless, I’ve been disciplined enoigh to put a huge dent in my mortgage and I’ve been here awhile now, so it would take a huge loss in value to dent my equity enough for me to consider renting it out.
Rents will drop in NYC. Also commercial office space will decline due to employers having employees to work from home until a vaccine is available. A vaccinated most of America won't happen until 2022. Commercial and office real estate prices to drop as well.
Most of America won't be willing to get vaccinated as most of America hasn't been impacted by this as hard as NY.
And good luck developing a vaccine for a constantly mutating virus. Let us know how that works out for you.
Vaccinated for what exactly? Opportunists like gates and bloomberg are already salivating at saving the world - but from what exactly begs the question: a tiny more severe flu? Where's my suicide/drug overdose vaccine? I'll take one of those since that's more potent.
Most of America won't be willing to get vaccinated as most of America hasn't been impacted by this as hard as NY.
And good luck developing a vaccine for a constantly mutating virus. Let us know how that works out for you.
One of the traits of this virus has been that it seems to be quite slow in its mutations.
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