5 ms·
The title (of the article, not this post) is misleading. Americans are leaving New York City. The numbers they use followed by "That means that, since 2010, a
by nxsynonym 9y ago
The title (of the article, not this post) is misleading.
Americans are leaving New York City. The numbers they use followed by
"That means that, since 2010, almost a million more people have left New York for somewhere else in America than have moved to New York from another U.S. metro—more than any other metro in the country"
indicate that people are leaving NYC. They don't say where these people are moving to, or if they are moving to other cities or rural communities.
NYC, SF, LA, etc are dying. Other cities are booming. People aren't leaving behind City life, they're leaving behind city life in a few cities that are too expensive, too competitive, and offer very little in return.
Why pay $1500 / month for a shoebox in NYC when you can spend 1/3 of that in a smaller (albeit less romanticized) city?
There is a middle ground between the rat race of the Big Cities and the classical 60s American dream house, and people are going there.
- xeromal 9y agolol, They are dying. Quite a drastic choice of words.
- magic_beans 9y agoDying is a bit dramatic. LA, NY, SF are only dying for those who can't afford them. For the 1%, and even for high-earning single people, these cities continue to have huge appeal.
- jgalt212 9y agoI don't know about that. $456K a year puts you in the top 1%. 3:1 DTI means you can buy roughly $1.5MM apartment. In NYC, that doesn't get you the most appealing apartment. And you have a family in Manhattan, $456K is close to break-even (i.e. hand to mouth) http://www.investopedia.com/news/how-much-income-puts-you-top-1-5-10/ http://www.investopedia.com/news/how-much-income-puts-you-to...
- nxsynonym 9y ago"dying" in the way the article put it. No they are not empty shells of cities-once-been, but they are becoming less desirable.
- droidist2 9y agoWhich cheaper cities? Like in the Midwest?
- BlackjackCF 9y agoSmaller cities like Seattle, Denver, and Austin are all getting a lot of young people. Hence why you'll see so many people complaining about rising rent. :P
- nxsynonym 9y agoCompared to NYC? anywhere that isn't LA, SF, or BOS.
- bigzen 9y agoI'll drop Indianapolis in here. It is becoming a midwestern tech haven with large companies such as Salesforce making headquarters there. Speaking from personal experience it is also dirt cheap compared to any other cities mentioned here and the salaries have been higher than what I have been able to find elsewhere.
- muninn_ 9y agoAdd to that even Chicago, Pittsburgh, Columbus, and places like Nashville. I love big cities, but not for anything less than $250,000+. I like my cost of living in the Great Lakes Region
- gozur88 9y agoIt's not just NYC the fivethirtyeight article he references shows it to be a more general trend - people are again moving from cities to the suburbs.