The smart money is/will be buying up property in NYC. You don’t see 50-60%-off deals very often.
NYC will be back - and big time. You can’t discount the infrastructure investment. You can’t overlook that at its darkest point there won’t be a tax-cutting, law-and-order Rudy II, by which time the perfumed-punk anarchists will have moved on to the next cause.
This too will pass.
Sure, this will pass, but it will take a while. Years, I think. Why?
Because there won’t be any reason for the rest of the world to go visit NYC. Museums are closed, there are no live shows to go to. Stores have been looted and destroyed. Plus, I may have to quarantine for 2 weeks upon arrival.
I think it will be a very minimum of 3 years for NYC to start resembling a shell of its former self, but likely, I think it will be twice that.
It has hobbled itself with the tax structure, regulations, politics.
If it comes back, it will have to reduce costs enormously.
It cannot do that and keep paying the extreme wages to the govenment employees, police, teachers, bureaucrats...
They are the dogs in the manger. Everywhere else, they would rather the city self-destruct, than reduce their unsupportable wages and pensions.
It is not hard to see why...
They were promised these things, and have seen two or three generations get them...
Love the post you wrote. Bad times are upon us. What are we REALLY made of? I know we talk the American spirit but is that just something we say? Is it possible to endure dark times and come out better off than before? Our parents did. They made it through the Great Depression. They made it through World War ll. Our grandparents did. Many arrived here with nothing but a deep belief that they would survive and prosper. We can do this. With the help of a loving God we will make it.