Pandemic and social unrest are some of the reasons why wealthy New Yorkers are fleeing the metro area for rural communities. Now throw violent crime into the mix, and it appears the flight to safety will only increase.
A byproduct of the virus crisis, now socio-economic implosion of the city, is a massive increase in violent crime, including murders, shootings, and burglaries (a rise in violent crime is standard in a recession, considering the US entered one back in February).
This video sums up why New Yorkers are getting the hell out of dodge as the city implodes.
During May, overall crime declined compared to the same period last year. But the New York City Police Department (NYPD) said murders in the city increase by 79%, shootings jumped by 64%, and burglaries rose 34%.
The surge in violent crime is expected to supercharge a trend of New Yorkers fleeing the metro for rural communities in New York and New Jersey. We've already detailed this emerging trend in several pieces:
The exodus of cities could become a nationwide trend in the early 2020s if social unrest and the virus pandemic don't decrease in the near term. With coronavirus wave two likely here - a wave of city dwellers could be the next big seller that sends urban home prices in major cities tumbling, but as we've noted, result in surging home prices in some rural communities.
A large suburban home is becoming very attractive relative to having urban space in a post corona world. We've documented this phenomenon, in several pieces, is happening across several major metropolitan areas:
At the same time, corporations have devised a way for employees to work remotely. So as America's inner cities burn - people now have the luxury to watch from afar, isolated in their rural McMansions.
Wait, so will the exodus from cities revive McMansions? The answer could be yes...