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Re:New York City population declined by 5.3% since 2020 by shin_lao on Tuesday December 19, 2023 @12:52PM (#38698921)
More taxes. Less service.

Everything is outrageously expensive.

Middle class gets crushed.

If you've wealthy, no point in having your main residence in NYC (see, more taxes).

Will get worse before it gets better.

Re:New York City population declined by 5.3% since 2020 by levelz on Tuesday December 19, 2023 @01:42PM (#38699699)
> Everything is outrageously expensive > Middle class gets crushed

I moved out of New York City in 2020. The overriding reason was not this, it was just a fluke that I got a very compelling out of state job offer in 2019, and they requested I move in 2020.

However, I am making about about $150-$160k as an SWE, and it goes a lot further here (although having to spend $700-$800 a month for a car, which I did not have to do in NYC, bites into that a little). I have a new, big, apartment with a front door to a tree-lined street in a nice walkable neighborhood near my workplace for less than $2000 a month. In New York I would have an older, smaller apartment on a higher floor in not as nice of a neighborhood for more a month.

I know people say to move to the Bay area because that's where the action is for tech jobs and where you make connections etc., but I don't see why not take a step on a way for a decent paying job in a cheap city where you can accumulate savings while your skillset is increasing.

The juniors/associates I work with making <$100k a year say they can barely afford their expenses now here. I don't know what they'd be doing in the Bay Area or New York. They have roommates too.

I saved up a ton of money down here, and gained experience as well. If I move back to New York (or to the Bay Area), I do so on surer footing - I have a lot of money saved up for a rainy day now.

It also makes for a situation where those with lower income - even associate/junior SWEs at Fortune 100 companies - can't afford to live in cities like NYC, San Francisco etc.

Re:New York City population declined by 5.3% since 2020 by steveBK123 on Tuesday December 19, 2023 @01:49PM (#38699774)
I've worked at hedge funds for over 10 years, I make FAANG money... and yet, I lived in a 1 bedroom rental without washer/dryer into my mid 30s. Unit hadn't been renovated since the 80s.

My boss did similar until he nearly lost his mind WFH with a working spouse and toddler all running around the room.

Meanwhile my current team is remote and my 24 year old coworker in Miami rents a 2 bedroom with his non-working wife. This is, I cannot stress this enough.. completely unheard of in NYC.

Re:New York City population declined by 5.3% since 2020 by airstrike on Tuesday December 19, 2023 @02:14PM (#38700117)
Amen
Re:New York City population declined by 5.3% since 2020 by misun78 on Tuesday December 19, 2023 @02:24PM (#38700251)
This is a pretty reasonable approach but I would caution against potentially being too overly-conservative in eventually moving to the bay/NY if career ambition is a goal. What's often missing in these budgeting numbers is the intangible variable of a far lower ceiling of income potential that you have to trade off. How does the calculus change if say there is some probability X of reaching a potential far higher than 150-160k, as tends to be the case in these HCOL areas?
Re:New York City population declined by 5.3% since 2020 by airstrike on Tuesday December 19, 2023 @01:05PM (#38699133)
This is it in a nutshell. And I don't see anything that points to those trends reversing in a meaningful way long term.
Re:New York City population declined by 5.3% since 2020 by jseliger on Tuesday December 19, 2023 @01:12PM (#38699252)
Tragically, New York State's efforts to increase housing supply by applying laws at the state level seems to have failed: https://www.nytimes.com/article/nyc-housing-hochul-long-isla....

If voters like expensive housing, I guess we'll keep getting expensive housing.

Re:New York City population declined by 5.3% since 2020 by steveBK123 on Tuesday December 19, 2023 @01:37PM (#38699642)
Yes a lot of people you think of as "NYers" are.. not, for tax purposes.

Most famous people you know have enough flexibility that they can be in their West coast / Florida / Mountains / Beach / Westport / Greenwich / Short Hills / etc home 183+ days per year.

Re:New York City population declined by 5.3% since 2020 by randomdata on Tuesday December 19, 2023 @02:33PM (#38700369)
> not, for tax purposes.

And, really, general quality of life. When you just want to spend quiet time at home, somewhere outside of the big city is going to provide something more quiet and comfortable. And when you want to do the things that the city uniquely has to offer, you go there while you do those things. NYC, nor anywhere else you might want to be, is certainly not walled off to outsiders. There is no advantage to being there all the time.

Re:New York City population declined by 5.3% since 2020 by steveBK123 on Tuesday December 19, 2023 @02:38PM (#38700438)
Exactly true and happens at all levels.

Sure Mr Tribeca might have had an awesome loft in Tribeca, but he also has like a 100 acre estate on the Hudson. And a place in Montauk. And and and..

Re:New York City population declined by 5.3% since 2020 by randomdata on Tuesday December 19, 2023 @02:41PM (#38700475)
Absolutely. I hale from a village of ~1,000 people and I run into celebrities (Hollywood types, professional athletes, tech CEOs, etc.) quite frequently – because that's where they live.
Re:New York City population declined by 5.3% since 2020 by jeffbee on Tuesday December 19, 2023 @01:02PM (#38699092)
Instead of regurgitating your priors you could have simply read the article.
Re:New York City population declined by 5.3% since 2020 by airstrike on Tuesday December 19, 2023 @01:05PM (#38699141)
What he said is totally in line with the article?

“In the pandemic’s wake, we see an altered population and it raises longstanding concerns about the cost of living, the growing wealth gap, the need to preserve a strong middle class, and the challenges of serving an aging population, while ensuring that families are able to raise their children here. We need the city to remain competitive on the world stage and a place where people want to move, put down roots and thrive.”