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The Rubin Report
August 31, 2020

Wealth Flight

After seeing the headline regarding the lease falling through for new office space in SF, it got me to thinking what that might mean in the coming years. Covid has accelerated the move to distributed work, and wealthy people are beginning to realize they don't need to live in cities to make their money. With the high cost of living, traffic, rioting, looting, violence, and all other disgusting manner of things that cities create, I don't think the wealthy will choose to stay.

We might see an exodus of big money from cities first, and once that's gone, they will decline to the point that only the poor would chose to still live in them.

There's plenty of positive aspects of living in a city, but will those be enough to preserve them as the wealth centers they have always been?

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