It’s Time To Focus On Big City Living Again: The Opportunity Is Huge!
If you’re aiming to make it big post-pandemic, it’s time to give big city living another shot. Major cities are bursting with job, entrepreneurial, investment, and networking opportunities that are hard to find elsewhere. Also, if your company has been cutting down its workforce, being in the same city as your company’s headquarters can keep you closer to the central hub of activity—and possibly secure your job.
Big city living isn’t just good for your career; it can also be financially rewarding. City dwellers often have access to higher salaries and can invest in urban real estate, which typically outperforms national growth averages. Despite the doom and gloom you might hear, now is an excellent time to focus on urban living. Rents are at a low, likely to rise soon, and with many companies calling their employees back to the office, the cities will be bustling again soon.
I’ve been living in a major city since 1999, and history shows that every dip is followed by a strong comeback. I predict the same post-2023. During the pandemic’s peak, some of the savviest investors I know snapped up real estate, planning for their family’s future in the urban core.
Big City Living Is Here To Stay
To truly build wealth, you often need to think differently from the crowd, which might earn you some criticism. However, that’s how the biggest fortunes are made. I’m more excited than I’ve ever been about the potential of urban living. With highly effective vaccines rolling out, we’re poised to see a surge in demand for city life.
Cities like New York and San Francisco have always been magnets for those seeking to make a fortune, drawing ambitious individuals from across the globe. These cities host many of the biggest and most innovative companies, offering some of the highest-paying jobs around. Consider the recent Airbnb IPO in San Francisco, which created thousands of new millionaires, demonstrating the massive financial opportunities still available in big cities.
Good Networking In Big Cities
Having a strong network of successful friends increases your own chances of success and provides better opportunities for your children. It’s tough to land a top-paying job in a big firm in a major city without connections. This challenge is compounded by the reality that it’s often hard to break into these circles, especially if you’re starting from scratch.
Big City Living Can Be Tough
I’ve personally gone through the wringer trying to make it in a big city. After 13 years in New York and San Francisco, the relentless pace and high pressure eventually wore me down. Big city life can be grueling, and it’s not for everyone. After years of grinding, I opted for a different path to generate enough passive income to live comfortably.
The Impact of Coronavirus and Media on Big Cities
The pandemic and the surrounding media frenzy have surprisingly set the stage for a potential revival of big cities. Here’s why:
1. Opportunity for Newcomers: With some people moving away, there’s less competition for jobs, which could be great for you if you’ve been struggling to break into the city job market.
2. Less Traffic and Congestion: Fewer people means less traffic, easier access to city amenities, and an overall more enjoyable urban experience.
3. Decreased Competition for Schools: With more families moving to suburbs, there’s less competition for sought-after schools in the city, improving your kids’ chances of getting into top schools.
4. Increased Housing Affordability: With the exodus, housing prices are more negotiable, and you might find yourself able to afford better or more centrally located homes.
5. Enhanced Quality of Life: With reduced population density, you can enjoy the city more. Less crowded parks, easier reservations at top restaurants, and generally less hustle to enjoy what the city offers.
Living in a big city has its challenges, but the current circumstances have created unique opportunities. If you’ve ever considered city life, now might be a perfect time to take the leap, take advantage of the lower costs, and enjoy the lifestyle that big cities offer.
