People move towards places with growing economic opportunities.
New York heavily restricts construction and infrastructure projects of all kinds. The tech and finance elite will stay here but normal people who are trying to make a decent living in construction and similar trades will end up following opportunities.
NYC population is declining after all [1] largely because the city would rather treat housing as a scarce resource for them to divy up than something to increase the supply of.
alt Hacker News
People move towards places with growing economic opportunities.
New York heavily restricts construction and infrastructure projects of all kinds. The tech and finance elite will stay here but normal people who are trying to make a decent living in construction and similar trades will end up following opportunities.
NYC population is declining after all [1] largely because the city would rather treat housing as a scarce resource for them to divy up than something to increase the supply of.
[1]. https://www.realtor.com/news/trends/new-york-city-population...