How is New York particularly affected by COVID-19?
Again and again, I hear New Yorkers saying “New York will never be the same.” If New York is known for anything, it’s for being crowded and full of people. From the subways to the restaurants, to event spaces and even sidewalks, New York is crowded. Even residential spaces are crowded. Not only are they very small, but the cost of living is so exorbitant that many people live with at least one roommate, so the chance of infection is higher than in less densely populated homes, like those in other, less expensive areas.
Reasons for living in NY may be less accessible after COVID?
The common assumption is that we will not, at least for quite some time, return to “life as usual” once the virus has been somewhat contained. All predictions include some degree of social distancing. If some of the activities and destinations that are most popular (and often cited as reasons for living in New York) become inaccessible due to efforts to reduce crowding, some people may feel that the rewards no longer outweigh the challenges of living there. Consider how going to the theater, Rockefeller Center, shopping, restaurants and museums (nevermind riding the subway to get there) might look very different in the near future.
The economic impact of COVID on the New York lifestyle
Obviously, people across the world have seen job losses and/or reduced income as a result of COVID. Keep in mind, though, that, due to the cost of living in NY, many residents spend a much higher percentage than others for their basic living needs. If, due to a reduced financial position, those favorite activities might no longer be affordable. Not being able to pay NY prices for retail, dining or special events may give some residents pause about whether it’s worth staying there with the high cost of living. COVID-related changes will just increase the already existing trend of migration out of New York.
Working from home is tough in New York
Prevailing wisdom points to an increase in the number of people working from home once the pandemic has subsided. Both employers and employees have seen that many jobs that previously required an on-site presence everyday, may be carried out from home. Consider that working from home in a tiny apartment (often with a roommate who might be doing the same thing) can be claustrophobic. Additionally, if you have not enjoyed living in NY and find you can do your job remotely, there may be no compelling reason to stay. Even if you have enjoyed living there, you may be swayed by the opportunity to have more disposable income and/or live more comfortably by choosing to work remotely from a less costly area.
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