I'm not saying that. I'm saying who could have guess people would get tired of driving for 2 hours a day just to come to work and move back into the city. Suburban flight was a historical mistake and now it's being corrected.
Most of the people that are flocking to the city don't work in the city, though. I knew tons of kids on their daddy's, who lives in Omaha, dime, tons of foreigners who use NYC as a vacation pad, and transplants opening up artisinal food places. I'm sure some people from other areas in the Tri-state are moving back to NYC but most of these people coming into the city didn't even live on the East coast, let alone the Northeast.
It's also more cultural than that. NYC has THE MOST public services and infrastructure in America (trains, parks, museums) and overall the most diversified culture. The irony is that there will be a tipping point where all the people who create the richness of that culture will be shunned. Someone else raised the issue as well, who are going to work at the McDonalds, Duane Reades, as janitors, and as delivery men. The commute for people who would at some point will make it not worth it and trust fund kids surely ain't. I suspect NYC is going to collapse 10-15 years out if this trend continues. Once it becomes apparent how vanilla and stale culturally NYC has become, it isn't there yet, and these conglomerate who have stores on every corner can't afford to provide a reasonable wage to their work forces, there will be another shift.
We have to start buying our own houses and starting our own businesses. It sounds cliche but if not, these hipsters who think it's edgy will always follow us into our neighborhoods, infiltrate, and stabilize it for Sally from North Dakota to come in and destroy it.