That's a death spiral for an urban area, which is what is happening now, right? We don't have to guess. It is what is happening to New York now? There is an exodus of wealthy people, but also middle class working families. Exodus of businesses. And that will accelerate. And that is what they call the urban death spiral. You're writing on experience. Take the issue of affordability. (07:22–07:30)
CLAIM
Asserts that there is an ongoing exodus of wealthy people, middle-class families, and businesses from New York.
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