Tag Archives: New York City housing

The Millennials, Treated Like Serfs, May Have Started to Flee New York City

I have long wondered if and when New York’s young workers, tired of low wages (or permanent freelancing or “internships”), squeezed by rising rents into living more than one to an apartment or even a room, faced with higher taxes that contribute to those rents, facing squeezes on the subway and diminished public services, would decide they have had enough. And realize there will be no pot of gold at the end of the rainbow like the ones prior generations received. No rent regulated or Mitchell Lama apartment, no owner-occupied unit purchased outside a housing bubble or at an “insider” price in a conversion, no stable job with benefits, no improving schools. Just higher taxes and deteriorating services to pay for those dead and gone or retired to Florida.

I have wondered if, at some point, the incredible inflow of hundreds of thousands of young workers to New York City that I chronicled here

https://larrylittlefield.wordpress.com/2013/10/06/new-york-city-economic-refugee-camp/

would slow, stop, and reverse. And based on data I downloaded Friday for a report I’ll be writing Monday on the job, it may have started to happen.

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