The results of the pandemic and the general crime situation in the cities will not be fully realized for 5-10 years. It's clear there has been a big blow to the cities, but demographic shifts play out over several years or decades, not all at once. The biggest thing happening right now in places like NYC is they are getting "hollowed out" as the major taxpayers and job producers leave first, since they have the means to easily do so. I read somewhere that over 50% of the taxes in NYC are paid by a small number of wealthy residents who are actively being demonized and told to f*ck off and leave. The role of teleworking is an interesting angle to this as well. More widespread teleworking makes it much less attractive to pay huge money to live somewhere such as NYC or San Francisco. It's not like you can even argue you want to be in NYC for the entertainment and food. Most of that is shut down or severely limited and that situation isn't changing for 18-24 months, if ever.