Work From Home is decimating attendance in the office. If you don't need to go into the office anymore, why would all these companies keep paying millions a year for leasing a quarter of a floor in midtown NYC?

All that office space is going to get converted into residential areas. But there's a time delay because office space gets leased on 5 year and 10 year terms. So, I'd say in about 7 years, we're going to have a lot of these office buildings converted into residential spaces. There will be a glut that will drop prices (my prediction).


You might say, well if its WFH then people don't need to live in NYC anymore, the city is going to die (who wants to live in a cold, rat infested city that smells, etc etc). But NYC is always going to be the financial hub just as DC is always going to be the seat of government power. All other cities that are tied to a particular industry, can easily lose it (LA with Hollywood, or SanFran with tech). NYC is always going to be finance in our generation, simply because thats where the stock exchange is physically present.


Finally, if you buy a condo in NYC, there really isn't that much that is expensive in NYC other than restaurant food/drinks. Its the RENT that makes cost of living so astronomical.


Buying real estate in NYC used to be outside the means of us Miscers who had to be more than CEO/10k a day, and actually be a Chinese corporation. But soon that's gonna change brahs.

Dat property tax

Room temp IQ post