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IPFS News Link • Economy - Economics USA

Flight from New York

• https://www.paulcraigroberts.orgPaul Craig Roberts

High income people who no longer need to work in office complexes do not need expensive Manhattan brownstones and apartments.  They can escape to Mystic Connecticut — https://www.bloomberg.com/news/articles/2020-08-07/as-new-yorkers-flee-once-humble-seaside-town-sees-bidding-wars?cmpid=BBD080720_BIZ&utm_medium=email&utm_source=newsletter&utm_term=200807&utm_campaign=bloombergdaily&sref=Y1NA6MHq — or somewhere else.  

On top of the depression of Manhattan office and apartment prices from the emerging work-at-home culture, we have the assault on NYC residents from the breakdown of law and order and the Democrat mayor's decimation of the police budget in order to pay NYC hotels for housing the homeless, drug addicts, and child abusers in upper income West Side Manhattan — https://www.dailymail.co.uk/news/article-8603433/Upper-West-residents-fury-homeless-junkies-sex-offenders-moved-luxury-hotels.html .

And it is not only in New York City that people are deciding against downtown locations. In Minneapolis, the police department has publicly announced that the police are unable to protect the public from robbery and abuse.  The police advise the public that when confronted by robbers, "do as they say" — https://www.breitbart.com/crime/2020/08/02/minneapolis-police-department-advises-residents-to-give-in-to-criminals/?utm_source=newsletter&utm_medium=email&utm_term=todays_hottest_stories&utm_campaign=20200802 .


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