“A lot of people have learned that they can work at home." (Warren Buffet)
This may be a positive for many who work in Manhattan, where the average commute time of 43 minutes is among the highest in the nation. This may also also have a significant negative impact to the City since real estate taxes provide a third of city revenue and two-thirds of economic activity occurs in office buildings.
New York City Comptroller Scott Stringer predicted "a whopping $3.2 billion loss to the city’s tax revenues over the next six months."
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