Yankee Migration: Causes and Reverse Trends in Urbanization (Report‪)‬

I In the past, we used to think of Yankee (1) as residents of the five boroughs (2) of New York City (referred to as the City). Presently we are not so sure. The high cost of residential life in the City, along with personal/corporate income and real estate taxations, may well be some of the factors forcing New York-bound migration and residency into limbo. The aftermath of this hardship is the gradual loss of the City's cosmopolitan character, momentum in industrialization, and the City's real estate revenue to neighboring smaller cities and towns. This anomaly is a warning sign of a greater future cost-driven migration catastrophe than the prevailing one. If the municipal government were to amend its taxation policy, making the cost of living commensurate with earned wages and capital-gains tax (to assure affordable cost of residential life and enterprise ownership in the City), this loss of revenue would be reversed; but if not, we should expect the situation to worsen.