[quote=briansd1]I was reading an article in NYTimes about how UBS is considering moving back to Manhattan from Stamford, CT because they can’t hire traders who want to live in Manhattan or Brooklyn. [/quote]
The situation with UBS is rather curious. Their core problem is that they were in NYC area. Therefore, their local talent pool is mostly single. Any married person with skills and education necessary to work as a trader knows well to avoid NYC like plague unless they get $200k at the start. (And, since no one gets $200k at the start in NYC, married people simply don’t move there unless they absolutely have to.)
[quote]The suburbs and exurbs are an American phenomenon. For the younger globalized generations, I foresee a trend to “glamour cities” as Robert Shiller calls them. We will see in 50 years.[/quote]
I’m not sure what our younger globalized generations are going to pick up from their interactions with their foreign peers, but, in UK anyway, the “house and garden” has always been considered the arrangement to aspire to. Most people can’t afford them, because all major cities are built out wall to wall with apartments and townhouses, but it is absolutely not the case that Europeans love living in apartments.
