I'm not sure you realize the sheer number of people that are going to leave many of these U.S. cities now that so many can work from home.
THREAD
THREAD
I hear this type of thing every day from NY people.
NY magazine, May 9: "What will life be like after lockdown?" NY is fun, you love it, great. I like that city too. But many people are there only because of the job. You can say bye to this person.
NY magazine, May 9: "What will life be like after lockdown?" NY is fun, you love it, great. I like that city too. But many people are there only because of the job. You can say bye to this person.
How about California? In September 2019, Berkeley's IGS conducted a poll that showed 14% of residents rated it a "rather poor place to live," the highest level in 28 years…
https://escholarship.org/uc/item/96j2704t
https://escholarship.org/uc/item/96j2704t
You see L.A. home price growth of 5% a year for 20 years, even with the Lehman crash, and it's no surprise that California is second only to Illinois in U-Haul's net "out" migration. https://twitter.com/JeffWeniger/status/1273236451317084160
Chicago isn't on the "most expensive cities list," but I live there and I'll tell you they are leaving already. The state ranked 50th for tax friendliness by Kiplinger.
Washington is a zero tax state, so the Californians go there. But will they go to Seattle, the 7th most expensive city in the Quicken Loans study? Not likely. https://twitter.com/JeffWeniger/status/1271470010221854726