Make Sun Belt Cities More Like New York and Los Angeles
All those people who fled high-cost, densely packed coastal metros during the pandemic still crave the lifestyles they left behind.
Ingredients for a more cosmopolitan Sun Belt.
Source: Bloomberg
Add this to the pandemic lesson book: People may be willing to give up their homes in high-cost, densely packed coastal cities, but they still want their coastal lifestyles — just with a little more space, cheaper real estate and warmer weather.
Two years after fears of Covid-19 unleashed a wave of migration across the country, U.S. communities are still struggling to adapt to the demographic changes. We’re beginning to see signs of recovery in cities like New York and San Francisco that saw an exodus of high-income knowledge workers who had the ability to work remotely. (Even though office occupancy suggests they may never come close to pre-pandemic norms.)