There's 1200 square miles of land on Long Island, not counting that part within NY City, maybe you need to get around more. Seven of the ten most expensive zip codes in New York for housing are on Long Island (one is number two in the country) - the people there must have been thankful they weren't in the hellhole you visited.
It’s a huge delta when you’re talking about money. Here’s the calculator. https://www.forbes.com/advisor/income-tax-calculator/new-york/7000000/ Change the states. I used $7 million as we’re factoring in free agents. After tax income in New York is $3.83 million. In New Jersey it’s $4.45 million. How is that not a factor? I’d also venture to guess that most of the millionaires that call NYC home are chained to the city because they’re in the financial industry. Athletes have plenty of choices for where they can play.
Well looking at that tax calculator it does figure in NY income tax but has 0 for NJ income tax. Have they eliminated Jersey state income tax because I remember it being just as high as NY https://www.google.com/amp/s/turbot...th-the-highest-and-lowest-taxes/amp/L6HPAVqSF
It's at the state level, where I agree both NJ and NY put workers at disadvantage compared to no income state taxes of Florida, Texas, etc. That applies to FAs as well, and as @Jonathan_Vilma showed it appears NJ is better than NY at state level. However, what I am talking about is a NYC tax, which is about 4% city tax from New York City on top of the state tax, if they actually play in the City. Again, I don't know if it would make a big difference for players as far as playing in NYC vs NJ, but it certainly doesn't help.
Currently there are a shit ton of empty office on the city. I’m on Wall Street and my building seems to be half empty. The work from home revolution seems to be effecting all industries including finance….. And yet so many people here the rent is up 50% over the last 18 mo. Point: people are less tied to their job yet keep moving to nyc.
Just wait until the rents crash. Long-term trends are for businesses to work remotely and from suburban locations. Urban real estate is going to dive just like it did when manufacturing fled the country.
It’s (residential rent) gone up 50% since the work from home trend has started. Sure, maybe it’ll crash…. Or maybe people like living in NYC. The current trends seem to imply the latter
It's part of the regentrification... Slum it, buy it, make it unaffordable to lower income. Rinse repeat. Welcome to the 70s and 80s NYC. I remember these tactics well
