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August 19, 2020

A Mass Exodus Away From Big Cities


In all of U.S. history, we have never seen anything like “the mass exodus of 2020”.  Hundreds of thousands of people are leaving the major cities on both coasts in search of a better life.  Homelessness, crime and drug use were already on the rise in many of our large cities prior to 2020, but many big city residents were willing to put up with a certain amount of chaos in order to maintain their lifestyles.  However, the COVID-19 pandemic and months of civil unrest have finally pushed a lot of people over the edge.  Moving companies on both coasts are doing a booming business as wealthy and middle class families flee at a blistering pace, and most of those families do not plan to ever return.


Los Angeles is a perfect example of what I am talking about.  Once upon a time it attracted wealthy and famous people from all over the globe, but in 2020 it is “a city on the brink“…
Today, Los Angeles is a city on the brink. ‘For Sale’ signs are seemingly dotted on every suburban street as the middle classes, particularly those with families, flee for the safer suburbs, with many choosing to leave LA altogether.
British-born Danny O’Brien runs Watford Moving & Storage. ‘There is a mass exodus from Hollywood,’ he says.
Almost half of the entire homeless population of the entire country now lives in the state of California, and a large proportion of them are addicted to drugs.  Needless to say, this has created a nightmarish environment…
Junkies and the homeless, many of whom are clearly mentally ill, walk the palm-lined streets like zombies – all just three blocks from multi-million-dollar homes overlooking the Pacific.
Stolen bicycles are piled high on pavements littered with broken syringes.
Could you imagine trying to raise a family in such a community?

I certainly couldn’t.

And the worse economic conditions become, the worse the problem gets.  Crime is skyrocketing in L.A., and some residents have been shocked to discover strangers actually “defecating in their front gardens”…
TV bulletins are filled with horror stories from across the city; of women being attacked during their morning jog or residents returning home to find strangers defecating in their front gardens.
Of course Los Angeles is definitely not the only major city dealing with such issues.
On a per capita basis, drug use is even worse in San Francisco, and it is being reported that there is “a mass exodus of people looking to get out of San Francisco real estate”…
According to online real estate company Zillow, there is a mass exodus of people looking to get out of San Francisco real estate – as the housing market is on fire in the Bay Area suburbs, all the way to Lake Tahoe.
According to the company’s “2020 Urban-Suburban Market Report,” home prices in the city have fallen 4.9% year-over-year, while inventory has jumped 96% during the same period, as a flood of new listings hit the market.
In the end, a lot of people may have to take losses on their homes, but it will be worth it simply to get out of California.
And the state legislature has apparently decided that the mass exodus is not happening fast enough, because a bill is being introduced that would impose a new “wealth tax” on the very wealthy…
Fast forward to today when the ultra-liberal state of California is now ready to take this “socialist” idea from concept to the implementation phase, with the SF Chronicle reporting that a group of CA state lawmakers on Thursday proposed a first-in-the-nation state wealth tax that would hit about 30,400 California residents and raise an estimated $7.5 billion for the general fund.
The proposed tax rate would be 0.4% of net worth (most likely ended up far higher), excluding directly held real estate, that exceeds $30 million for single and joint filers and $15 million for married filing separately.
In the old days, a lot of Californians would just head north to Portland or Seattle, but those two cities are not exactly desirable options at this point.

The civil unrest in Seattle never seems to end, and Acting Department of Homeland Security Secretary Chad Wolf recently said that there had been “twelve official riots” in the first ten days after federal law enforcement officials left Portland.

Sadly, the east coast has experienced plenty of chaos as well, and the mass exodus out of New York City has been particularly dramatic.

The the New York Times had reported that 420,000 New Yorkers had moved out of the city between March 1st and May 1st.

But the exodus certainly didn’t end there.

According to the local Fox affiliate, between May and July there was “a 95 percent year over year increase in interest in moving out of Manhattan”…
According to the most recent data from United Van Lines, between May and July, there was a 95 percent year over year increase in interest in moving out of Manhattan. That compares with a 19 percent increase in moving interest in the U.S., overall.
The top destinations for people who moved out of New York City between March and August were Florida and California – which together comprised 28 percent of relocations. Texas and North Carolina made up 16 percent of moves.
And it isn’t just residents that are leaving.

Business after business is shutting down, and that includes some of the most iconic retailers in the city…
J.C. Penney and Neiman Marcus, the anchor tenants at two of the largest malls in Manhattan, recently filed for bankruptcy and announced that they would shutter those locations.
The Subway restaurant chain has already closed dozens of locations in New York City in recent months,
Le Pain Quotidien has permanently closed several of its 27 stores in the city and plans to leave others closed until more people return to the streets, an executive at the chain’s parent, Aurify Brands, told the Times.
Earlier today, I watched a video that someone had taken of all the boarded up shops along 5th Avenue.

If you have not seen that video yet, you can watch it right here.

I couldn’t believe what I was seeing.  At one time 5th Avenue was a playground for the elite of the world, but now it essentially looks “like a demilitarized zone”…
De Blasio’s New York has finally hit an all-time low: the once bustling city is now on the verge of looking like a demilitarized zone. Between the pandemic and the riots in the city, iconic 5th Avenue now looks more like a dystopian nightmare in a recently shot video posted to Twitter.
The video follows a car driving down a deserted 5th Avenue, with almost all of the area’s high end stores boarded up and shut down. There are few people seen on what is usually a busy street.
“Look at everything. Everything’s boarded up. Even the hotel. Boarded up,” the video’s narrator, who is obviously fed up with how the city looks, says.
In about six months, most of the progress that New York City has made since the dark days of the 1970s and 1980s has completely disappeared.

Homelessness and poverty are both exploding, and crime rates are shooting into the stratosphere.
If you can believe it, the number of shootings in July was 177 percent higher than for the same month last year.

If the deplorable conditions in our major cities were just going to be temporary, I don’t believe that we would be seeing such a mass exodus.

But at this point it should be clear to all of us that things aren’t going to turn around any time soon, and many people are convinced that things are just going to continue to get even worse.

Our major cities are degenerating right in front of our eyes, and there doesn’t seem to be any hope of reversing this process now that it has started.

In life, the decisions that we make always have consequences, and the consequences for the decisions that we have made as a nation as a whole will be very bitter indeed.

Authored by Michael Snyder via TheMostImportantNews.com

The views and opinions expressed herein are the author's own, and do not necessarily reflect those of EconMatters.

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