florida
thoughts on p72 and goldman moving more and more rescources to FL? will the rest of the street follow? is the age of NY coming to an end?
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The age of NY might come to an end, especially with the increase of housing prices as well as the intense competition of finding states that allow more flexibility with taxes (eg. Texas, Nevada, Arizona, Florida, etc.). MS and JPMorgan might follow, but it is a bit too early to say.
Not to mention lifestyle benefits for employees, more remote work capabilities, and a huge amount of $$ in FL.
IBs will follow the money. Massive amount of people evacuating blue shit holes like NYC, SF and they're bringing their money with them.
So this: https://www.bloomberg.com/opinion/articles/2021-06-14/goldman-sachs-goe… is the best article I can find on this.
Nothing really surprising here. SoFla has always been a regional market for AM/HF as a lot of celebrities and business people have beach houses/condos in the area as a summer home (ex. Trump Mar-a-Lago). Given the pandemic more affluent people bought property in the area, hence the need to allocate more workers in that regional area. Don't see this as a sign of a huge shift in the financial services industry.
Don’t really have an opinion but find the whole thing to be funny. New York has -200k+ per year net migration right now. Wonder if it has something to do with a 3.8% city tax in NYC, high CoL, needing to board up windows to prevent looting if anyone other than a democrat wins, that sort of thing. /s
Amazing how many BO roles still exist in NYC. None of those need to be there anymore and they will continue trickling out over time. The real question is whether FO positions will stay....a few are leaving but most FO roles are pretty sticky.
NY needs to come to an end so I can move to FL...NYC is definitely on the decline as far as quality of life is concerned.
NYC is still NYC. The financial capital of the world, the media/entertainment capital of the world, the creative capital of the world, etc...
You can wait 30 years for Florida to even sniff at being a real threat to NYC.
I agree with what you are saying directionally, but I think the people who think it can never happen are kidding themselves.
And once that happens the corporates will come in and vote for the Deblasio or Cuomo who will destroy Miami/Florida. Miami (the city) and Florida are both purple. A mass migration of liberal corporate workers would be enough to push the city and state over the edge.
NYC is lindy, been a big city since the 17th century. it may wax and wane in importance, but the rumors of its demise have been greatly exaggerated
I was in fact also going to say NYC has a lindy effect type thing going for it but was unsure if anyone here would understand "lindy"
Everyone should know lindy, right there with you bro
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