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Wall Street’s return to work is saving NYC while Big Tech is letting Silicon Valley empty out

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The east coast and west coast have long had a rivalry, but their diverging responses to economic reopening are painting a new chapter: New York City is reviving fast and San Francisco and Silicon Valley are asleep.

In New York City, finance giants’ urges to return to offices are reinvigorating neighborhoods that shut down for much of 2020. Huge west-coast employers like Apple, Google, and Twitter have delayed their back-to-office plans as virus cases swing higher.

The commercial real-estate comeback is geographically uneven, along with the economic comebacks for the two most expensive American cities.

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