Manhattanization of California Advances

Commentary A concept I’ve written about for years is what I call the Manhattanization of California. No one moves to Manhattan expecting it to be cheap and quiet, with balmy weather all year round. People go for the excitement, Wall Street, Broadway, the museums, and the restaurants. They put up with the other things, which even add to the city’s vibe. As Frank Sinatra sang in “New York, New York,” “If you can make it there, you can make it anywhere.” The city self-sorts, with the wealthy living in exclusive apartments and condos, and everybody else squeaking by as best they can. It’s obvious the taxes are high and the services spotty. In the past decade, the crime problem even has returned. But people go there anyway. I’ve known a couple of multi-millionaires in California who kept condos in Manhattan so they could fly there every few months and enjoy the city....