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Will New York Real Estate Recover? issue brief Urban PolicyHousingNYC Introduction New York City is well on its way toward reopening. The city has weathered the storm better than some critics had feared, and even the fiscal situation of the city has held up surprisingly well. However, the pandemic has left important challenges in its wake for the next mayor to address. The biggest of these changes revolves around the future of remote work. In the last few decades, Gotham has reinvented itself as a finance and tech hub for educated and skilled workers. Paradoxically, their jobs are the easiest to do remotely, but they have been, in practice, performed by workers willing to pay high premiums for urban density. [1]

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