Another Louis Rossmann video about how NYC is dying due to remote work, has been dying for a very long time before that, and how the Ponzi scheme of Commercial Mortgage-Backed Securities is pricing people out of the city. - Kotaku In Action 2

Another Louis Rossmann video about how NYC is dying due to remote work, has been dying for a very long time before that, and how the Ponzi scheme of Commercial Mortgage-Backed Securities is pricing people out of the city. (youtu.be)

posted 2 years ago by redman012 2 years ago by redman012 +27 / -0

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– redman012 [S] 9 points 2 years ago +9 / -0

Those mortgages are funding said corruption, and while Louis didn’t mention that in this video, he has mentioned that in several of his other videos about the topic, as again, NYC property tax (a third of the total budget of NYC, and 20% of that third is “office space”) is based on the value of the property, which is kept up because of the game of chicken I described in the other comment I have.

Edit: Also Louis already moved to Austin, the breaking point being him getting politically targeted for an audit.

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