Richard FloridaVerified account

7. But young people will continue to be drawn to cities, for opportunity. And they will locate there even if they can remote work.

8. Lots of college students moved back to college towns this year, out of dorms to apartments, even when classes were on-line.

9. Younger people will want to meet other people, socialize etc. So cities will also capture some share of remote workers.

10. Communities like Tulsa which have been very intentional in attracting remote workers will also gain.

11. But there is another smaller fraction of remote workers - super high net worth people who work in finance, VC, tech and real estate. Who can move to locations like South Florida and save a bundle on taxes.

12. Their talent base and companies typically remain near entirely in NY or the Bay Area. But these folks can game the system by homesteading in Florida and avoiding state & local income taxes.

13. Very little "work" has moved. Only the residence of the owner ...

14. The fiscal implications of this for superstar cities are prerty big, because their revenue models are tied to high net worth owners. So the fiscal hit from a very small number of relocations is high.