The population of New York City saw a significant decline during the pandemic in 2020 and 2021, but has shown partial recovery since then. According to estimates from the U.S. Census Bureau, the city's population remains around 8.3 million, with a net outflow to other regions in the country continuing, although immigration from abroad largely offsets this trend.

The industrial base is still centered around finance, but in recent years, there has been notable expansion of office space by tech companies and the development of life sciences clusters. New York City continues to invest in fostering the life sciences industry, and major tech companies like Google and Amazon have maintained or increased their office spaces in Manhattan and Brooklyn.

The unemployment rate is hovering around the mid-4% to nearly 5% range, which is somewhat higher than the national average. However, this is closely related to the unique labor market dynamics of large cities, and income levels remain among the highest in the country. Wage growth varies significantly by industry, with finance and tech sectors showing relatively stable trends.

In terms of infrastructure investment, projects such as the extension of the 2nd Avenue subway, redevelopment of Penn Station, and modernization of subway signaling systems are ongoing over several years. The potential for congestion pricing revenue to contribute to MTA infrastructure investments is also being discussed, raising expectations for long-term improvements in public transportation infrastructure.

The housing market continues to face structural issues with a persistent supply shortage. The supply of new rental housing is not keeping pace with demand, leading to upward pressure on rent prices, which paradoxically creates a favorable environment for investors seeking rental income.

From the perspective of Korean households, condos and multi-family homes in areas with high Korean populations, such as Flushing and Bayside, are still observed to have stable rental demand. However, given the high purchase prices, the typical approach considers asset value preservation and educational conditions for children rather than focusing solely on yield.

In summary, while New York City's population growth rate is modest, it possesses structural strengths in industrial diversification and immigration as an international city, suggesting that its economic foundation is unlikely to be significantly shaken in the next decade. However, the burden of housing costs and changes in tax policy remain risk factors that need to be monitored continuously.