by Dr. Paul Craig Roberts
New York City is in Serious trouble. Indeed, all diverse US cities are in trouble, especially those ruled by Democrats. The combination of coronavirus and unchecked rioting and looting have undermined their economies.
Working at home has taught businesses that they do not need to accumulate employees in office complexes. Working at home saves money for businesses and employees. With profits and raises harder to come by, dispensing with office complexes and commutes is cost effective.
High income people who no longer need to work in office complexes do not need expensive Manhattan brownstones and apartments.