Kristin Tate, The Hill: As the wealthy flee New York, poorest will be most affected
Are you a young person thinking of moving to a happening city? Chances are New York is not even on your list of potential hotspots, and if you are already living there, then you are looking for a way out. The last dividends of 20 years of leadership under Rudy Giuliani and Michael Bloomberg are being squandered by well intentioned but increasingly radical policies.
Dragging business practices, skyrocketing taxes, telecommuting, and loss of special status is a toxic mix for New York. Among young people, New York is becoming passé. During recent years, both the city and the state of New York have lost residents, as waves of educated and high earning millennials have fled. In fact, more than 46 percent of New Yorkers of all ages moving out of the state are in the bracket earning above $150,000.
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WNU Editor: A close friend works in Manhattan, but she lives across the Hudson in New Jersey. She bailed out two years ago from her condo in Manhattan, and her only regret is that she wished she moved out sooner. In my case I have always loved New York City .... the good and the bad. But would I want to live there? Absolutely not.
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