Community Housing Innovations study: Young professionals are leaving LI
WOODBURY - According to a new study, Long Island’s richest communities are losing young professionals at a rapid rate.
In a report released by Community Housing Innovations, Kings Point has lost 58 percent of its 25- to 34-year-olds since 2000. Those numbers include 57 percent in Westhampton and 51 percent in Oyster Bay.
The exodus, dubbed brain drain, is expected to affect many areas of Long Island, including school districts, businesses and volunteer fire departments and emergency medical services.
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Alexander Roberts, of Community Housing Innovations, says business office vacancies on Long Island have reached 11 percent.
“If we don't change things, it is only going to get worse and the population is only going to gentrify further,” says Roberts.
Community Housing Innovations warns that unless the suburbs change their preference for single-family houses, they will price out much of their work force.
For a news conference on the demographic collapse, watch the clip to the left or click News 12 Extra on Optimum TV channel 612.