NYC apartment vacancies rise 85%

This has been reported a bit already, the pandemic has sent a lot of New York City renters scurrying for the suburbs or less dense regions.  My personal opinion is that, it's freakin' New York City, wealthy people will come back once a vaccine is available and in wide use, and they can get back to "normal" big city life.  But for now, vacancies in NYC apartments are up 85%.  Rent prices are insane there, we've all heard that, and now they're coming down, and I think we'll see more of this in coming months. 

Basically, this appears to be the start of a much needed price correction in NYC rentals, and we'll probably see similar data soon show up in other major cities.  The beneficiaries right now are the smaller communities upscale city dwellers are flocking to.  With things moving so fast these days, other than Long Island and parts of the Hudson Valley, I haven't heard where else city dwellers are moving to.  Again, like the previous post, we'll see how this current trend plays out.