> That means the average worker is spending $4,661 less per year on meals, shopping and entertainment near their offices in New York
Ok... but they're likely more money on meals, shopping and entertainment closer to their home. Especially considering how they're not wasting an hour everyday on the subway anymore.
What's "idiotic" about it? Manhattan has a daytime population of 4 million people, and a resident population of just 1.6 million people. If all those commuters spend the money "closer to home" that means that Manhattan businesses aren't seeing it. It's going somewhere else. From the perspective of Manhattan, that's not a good thing.
There's a nuance in the word costing here, more clear would be "people are no longer spending 12B a Year in Manhattan". It's a free market right? Manhattan real estate will have to adjust its composition in order to offer the market something it wants if they want to get that income back.
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[ 2.9 ms ] story [ 25.1 ms ] thread> That means the average worker is spending $4,661 less per year on meals, shopping and entertainment near their offices in New York
Ok... but they're likely more money on meals, shopping and entertainment closer to their home. Especially considering how they're not wasting an hour everyday on the subway anymore.
The money does not leave the city; it just gets spent in different ways. Less on commuting, more on other stuff.