A new study reveals “rich” Americans under the age of 35 are fleeing New York City in droves; citing out-of-control housing costs, high taxes, and rising crime across the nation’s biggest city.
“Wealthy millennials are not interested in trying to make it in the city that never sleeps. In fact, according to a new study, they are actually leaving New York state altogether,” reports Fox Business. “Based on data provided by the IRS from the 2015 to 2016 tax year, a June 2019 SmartAsset study listed New York as the top state rich millennials are fleeing.”
According to the survey, “rich” millennials include those younger than 35 with an income of $100,000 or higher. Wealthy young Americans are also fleeing Illinois, Virginia, and Massachusetts.
“The Northeast isn’t popular with wealthy millennials,” noted the report. “Save for New Jersey, which made the top 10, the Northeast isn’t a popular destination for the wealthy under 35. Five of the bottom 10 states (Connecticut, Maryland, Pennsylvania, Massachusetts, and New York), plus the District of Columbia, are located in the Northeastern region of the U.S.”
The populations of America’s three largest cities are “shrinking” for the first time in years as residents flee rising crime, congestion, massive taxes, and a lack of affordable housing.
“America’s largest cities are shrinking but a few in the Southwest are continuing to boom. Fort Worth, Texas, is now the 13th most populous U.S. city, surpassing both San Francisco and Columbus, Ohio, according to newly released population estimates from the Census Bureau,” reports Bloomberg.
“Besides Fort Worth, the fifteen most populous cities were largely unchanged from the prior year. However, the three largest U.S. cities, New York City, Los Angeles, and Chicago, shrank last year,” adds the article.
Each of the country’s three biggest cities are facing unique crises: New York City’s finances are beginning to buckle under the weight of Mayor Bill de Blasio’s economic policies, Los Angeles is currently experiencing a massive homeless problem, and Chicago can’t get a grip with out-of-control gun violence.
Los Angeles continued its ongoing struggle with rampant homelessness and crumbling infrastructure this week, with residents complaining of “rotting trash piles” that are attacking rats and posing a major risk to the health of residents and tourists.
“Rat-infested piles of rotting garbage left uncollected by the city of Los Angeles, even after promises to clean it up, are fueling concerns about a new epidemic after last year’s record number of flea-borne typhus cases,” reports NBC Los Angeles.
“Even the city’s most notorious trash pile, located between downtown LA’s busy Fashion and Produce districts, continues to be a magnet for rats after it was cleaned up months ago. The rodents can carry typhus-infected fleas, which can spread the disease to humans through bacteria rubbed into the eyes or cuts and scrapes on the skin, resulting in severe flu-like symptoms,” adds the article.
“I can’t walk down the street without thinking that a flea could jump on me,” complained a local business owner.
“It’s something that we’ll look into,” said Pepe Garica, of Los Angeles’ bureau of sanitation.
The nation’s second largest city is also home to some of the country’s worst traffic conditions.
Read the full report at Fox Business.