NYC's decline is engineered. The perpetrators are waiting for the bottom to fall out so they can snap up all the real estate for pennies on the dollar.
Detroit's decline was an organic exodus by whites and investment capital in seeking to escape escalating black violence and crime.
So just using the opportunity presented by china flu to use regulatory power to depress the prices and the buying it with some help with local corruption.
Not sure what the plan is to get the prices to spike again though, or perhaps they will settle with the meager profit gained with more normal prices.
The corruption is way beyond local, it's national.
For example they use the eviction moratorium to force middle class home owners to sell their rental properties so corps like Blackrock can buy them for cheap.
Inform me when we get The great escape from new york...
On a more serious note, I do not think the decay will be as bad as Detroit for new york (altough I'm lacking a lot of data).
NYC's decline is engineered. The perpetrators are waiting for the bottom to fall out so they can snap up all the real estate for pennies on the dollar.
Detroit's decline was an organic exodus by whites and investment capital in seeking to escape escalating black violence and crime.
So just using the opportunity presented by china flu to use regulatory power to depress the prices and the buying it with some help with local corruption.
Not sure what the plan is to get the prices to spike again though, or perhaps they will settle with the meager profit gained with more normal prices.
The corruption is way beyond local, it's national.
For example they use the eviction moratorium to force middle class home owners to sell their rental properties so corps like Blackrock can buy them for cheap.
International.
China is behind a lot of huge property buys right now. The are living through the same type of economic era our grandparents saw in the 40s - 60s.