NEW YORK GOP RELEASES DIGITAL AD CALLING FOR 'RESTORING SAFETY AND SECURITY' ON NEW YORK CITY STREETSApartment rent prices have already decreased significantly in certain areas. Data collected from Zumper determined that rent prices have fallen by 7.4 percent in Seattle, 11.1 percent in San Francisco, and 6.9 percent in New York City, since the same period last year. Whether major cities will rebound hinges on the economy of those areas and why people live in largely populated cities, which he attributed to "production, consumption, and public goods." The most powerful impact on big cities, he said, is NIMBY, an acronym for the phrase "not in my back yard." A benefit to people living in big cities is that it’s cheaper to provide certain public goods like transportation, utilities, and roads, he said.

Source: Fox News August 11, 2020 08:48 UTC