Dying 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.

I 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-to...

"dying" in the way the article put it. No they are not empty shells of cities-once-been, but they are becoming less desirable.