The Wealthy Are Leaving Cities For Good

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Nearly half of wealthy individuals may move out of cities permanently, according to a new study on lasting life changes after coronavirus

Americans are the most worried:"82% of US investors see their old way of life changing forever, which is above the global average of 75%."Getty Images for The Capri Hotel & NAIA HamptonsMany are already putting their plans into action. In the U.K. country houses priced over £5 million have seen the strongest price growth of any property type in the country according to Knight Frank.

It is the same story in the U.S., where prices for the top 5% of homes outpaced the rest of the sector in May according to aViewings were up 28% in Palm Springs and 56% in the Hamptons compared to January. Even in April, the height of the pandemic, the Hamptons managed to set a 2020 record withMeeting the needs of a newly rural and rich set, a range of services more often found in downtown New York and London are moving to the country with them.Sotheby’s, have set up outposts in the Hamptons.

 

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While coronavirus is one factor, the article failed to mention escaping cities defunding the police and caving to BLMTerrorists and antifa. Liberal mayors are actively destroying their cities. With wealthy fleeing, their tax revenue leaves too compounding cities budget issues

more likely moving away from looters

😂 they ain't see anything yet.. They should move to the sky or Antarctica

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