As the dust of the pandemic lockdown settles and restrictions gradually ease, the contours of the ruin caused in New York City are emerging. Restaurants bankrupted, culture paralyzed, and gun crime harkening back to the mid-1990s. The rich and middle-class are leaving in droves. The poor are stuck. A homelessness crisis looms on the horizon. Those who stay cling to rickety hopes—perhaps the vaccine will come soon, perhaps the city and state bring leadership. Instead, politicians are talking more taxes.
The Epoch Times spoke to more than a dozen professionals in real estate, mortgage, relocation, housing aid, and parenting aid to map the situation in the city and sketch out a prognosis of what’s to come.
Not all spoke of doom. And for some, there is a silver lining to the crisis. Investors with deep pockets, for instance, can get their hands on pricey city properties at a discount, betting on a recovery, even if years away.
Much of the pain, on the other hand, hasn’t yet come to bear. Nobody knows what the “new normal” is going to look like. Many say the city has changed for good.
Shutting Down New York City
The city had persistent problems even before the lockdowns. The exorbitant cost of living was pushing residents away, but the population was still growing.
As the number of COVID-19 infections and deaths escalated in March, the lockdown orders forced the “city that never sleeps” into silence.
From “Protracted Lockdown Measures, Crime, High Taxes Are Driving People Out of NYC” by Petr Svab (The Epoch Times).