The NYC market is no longer in growth mode, it’s already inflated and has been trading sideways for some time (the new normal that SF will eventually have). The potential 25,000 jobs Amazon may add won’t be a net gain. Many will be rotations from local companies as well as the regular cycle of graduates. A handful of $150K jobs in NYC can’t drive up prices much further. NYC can easily absorb whatever net inflow there is. If I cannot bet my money on that, then I will on this: Amazon’s presence won’t drive up salaries. Don’t ask me why, I just know it. The insane TC talk we are here does not exist in NYC tech, and I don’t see a cheapo like Amazon disrupting this.
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