The pandemic has spurred a burst of mobility that is
in where and how Americans live.
Some young people are leaving cities earlier than is typical, while some older people are
speeding up retirement moves
. Fewer newcomers are giving cities a try, meaning the people moving out aren’t being replaced by fresh residents.
Suburbs are emerging as the winners from these changes, marking the
end of a decadelong growth trend for big cities
. Companies intent on lowering overhead and retaining talent are opening offices there, and developers are adding amenities to keep entertainment dollars local.
In the largest cities, the changes are helping erase billions of dollars of annual property tax revenue and fueling double-digit decreases in rents. In 2020, higher-income neighborhoods lost more residents to migration than lower-income neighborhoods.
With many companies signaling a new openness to remote work after the pandemic ends, cities are bracing for a future where spending on public transportation, lunches and other drivers of the urban economy don’t return to pre-pandemic levels.
Continue reading your article with
a WSJ membership
View Membership Options
Chuyên mục: Kiến thức