I'm biased as I live in midtown east of NYC, so I see lots of turnover with rich foreigners and itinerate people floating through. But our losses are mostly the middle and lower middle class with ever more housing being owned by the rarely here cohort. https://www.businessinsider.com/cost-of-living-nyc-millionai... Before the pandemic the area between Lexington,& 5th aves 30th to 72, maybe 79, had an daily vacancy rate of 80%. I suspect that has increased This means on average, including full time residents, most flats sit above 4 out of 5 days empty. I live two blocks from this and see it. We are only crowded Sept, Oct and a couple of months in the spring, centered around the UN schedule and things like Fashion Week.