Posted on 02/25/2024 10:35:22 PM PST by Libloather
Some nationwide real estate investors, like Cardone Capital’s Grant Cardone, have started telling their teams to pack their bags and leave New York after the verdict in former President Trump’s fraud trial.
"We thought this year was the opportunity to come into Chicago, California and New York City. I've been waiting for 40 years now to invest in that marketplace. I was completely confident this was the year to come," Cardone told Steve Doocy on "FOX & Friends" on Wednesday. "And when that ruling happened, it was like, pencils down. Don't touch it. Don't go there."
The business leader gained recent recognition after he posted on X that his firm would "immediately discontinue" all underwriting on New York City real estate to focus on other markets like Texas and Florida.
Cardone further said New York has risks "that outweigh the opportunities" in terms of property value and that the blue state has shown its politicization when it comes to doing business.
"We invest for 14,000 investors at Cardone Capital that depend on cash flow. And if I can't predict the cash flow because of some ruling, or because of the migrants, or because I can't evict people, New York City just keeps doing every single thing they can to sell real estate in Florida, not sell real estate in New York," the fund manager said.
Additional financial concerns exist in New York for pension funds, lenders and public real estate investment trusts following civil implications from the $355 million Trump ruling, Cardone said, potentially causing a decline in property value and an increase in loan defaults that could roll over to regional banks.
(Excerpt) Read more at foxbusiness.com ...
Sharpest bulb? Is that kept next to the brightest knife?
J/k I agree.
It is difficult to see a black person in a position of power and not wonder if they are there due to merrit or due to quotas???
In the case of Fanni it is an easy determination
I’m a girl and I hope he chooses a STRONG, THOUGHTFUL, EXPERIENCED MAN IN MORE THAN POLITICS...TO BE VP.
Micromanaging is a clear indicator of serious insecurity. If you screw up on a trivial task, she gets the blame.
And their ‘bleeding hearts’ can’t even see how unsustainable this is. Or it’s more sinister. The very few are bought off in return for making a hellhole.
How is that DA worth many millions? I heard 8+ - with uncounted cash in her house.
Reality has a way of catching up with you. It may take some time but it gets there eventually. Will this be a trend or a one off? America seems blind, deaf and dumb to the ‘progress’ of those that hate God but love Marx. Something is coming worse than a financial collapse. If we can’t see the easy things how will we see the difficult?
If I have told you earthly things, and ye believe not, how shall ye believe, if I tell you of heavenly things? Jn 3:12
And he said to them, “O foolish ones, and slow of heart to believe all that the prophets have spoken! Luke 24:25
“…and that the blue state has shown its politicization when it comes to doing business.”
Quite right. Now when they come to you and want you to do something, ANYTHING really, that they want you to do but that you don’t want to do…well they’ve made their example and the choice is yours…
F you want the Truth about the Trump trial in New York take a look at Mark Levin program on Fox last night!
“Get out.” - Glenn Beck.
“The commies sure have made a mess of things.”
Yup! DEI got is the NY AG, and Marxism IS DEI. Especially “Equity” (*spit*).
“From each, according to his ability; to each, according to their need.”
And “Socialism is Communism, sold by the drink.” (Steyn)
I wonder if Wall Street could be moved out of New York city and state.
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