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New York Commercial Real Estate Plunges 97.5% at Great Depression Levels
Armstrong Economics ^ | 3 Aug 24 | Martin Armstrong

Posted on 08/03/2024 10:52:37 AM PDT by delta7

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Legendary forecaster Armstrong nails it again! Armstrong bashers, maybe you should start reading his blogs, sovereign Governments and financial houses do, ….time to Prosper!
1 posted on 08/03/2024 10:52:37 AM PDT by delta7
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To: delta7

New York will not be able to collect the level of taxation that they could prior to persecuting Trump.


2 posted on 08/03/2024 10:55:01 AM PDT by Jonty30 (Genghis Khan did not have the most descendants. His father had more. )
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To: delta7

Quick sell it off to China or the government!


3 posted on 08/03/2024 10:56:27 AM PDT by The Louiswu (Pray for Peace in the world.)
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To: delta7

Yup—ad hominem attacks are the lowest of the low—and all too common around here.


4 posted on 08/03/2024 10:59:20 AM PDT by cgbg ("Our democracy" = Their Kleptocracy)
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To: delta7

Just hang on. The Kamalala Cavalry is on the way!!! Hit the bugle! She’ll make a great commercial real estate czarina.


5 posted on 08/03/2024 11:00:33 AM PDT by FlingWingFlyer (My Pronouns are : He Be, She Be, We Be, and HeBeJeebees.)
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To: delta7

I see the NY skyline at least several times a week. It seems to change by the month and I find it hard to believe that those monster buildings they are continually building actually contain people.


6 posted on 08/03/2024 11:02:39 AM PDT by TalBlack (I We have a Christian duty and a patriotic duty. God help us.)
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To: Jonty30

True enough. If they start reassessing these buildings downward because their market value has declined so much , New York is not going to be collecting very much in property taxes from these buildings


7 posted on 08/03/2024 11:03:01 AM PDT by Dilbert San Diego
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To: The Louiswu

Hey Alvin and Letitia are you happy now?


8 posted on 08/03/2024 11:03:48 AM PDT by phil00071
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To: delta7
New York Commercial Real Estate Plunges 97.5% at Great Depression Levels

Excellent!

Democrat Policy imposed by Democrat Elected and Appointed Bureaucrats are almost a complete success in New York.

Soon New York will be comparable in quality of Life, to Great Cities in Africa!

9 posted on 08/03/2024 11:03:57 AM PDT by Navy Patriot (Celebrate Decivilization)
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To: FlingWingFlyer

It utterly boggles my mind that approx. half the country can look at what Kamala and her ilk did to San Francisco and say, “Yes, please do that nationwide!”


10 posted on 08/03/2024 11:04:17 AM PDT by irishjuggler
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To: delta7

They should look around for some big NYC real estate guy who understands business and politics and see if he has any ideas on how this can be turned around.


11 posted on 08/03/2024 11:04:51 AM PDT by ClearCase_guy (I think women should get out of women's sports before they get hurt.)
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To: delta7

“Legendary forecaster Armstrong nails it again! “

Convicted Scammer Armstrong brags about predicting what everyone already knew!


12 posted on 08/03/2024 11:08:35 AM PDT by TexasGator
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To: Jonty30; All

Neither the governor nor the NYC mayor have an understanding of basic arithmetic and incentives. The mayor of NYC has done his best to drive out taxpayers and import illegals.


13 posted on 08/03/2024 11:09:15 AM PDT by Cobra64 (Common sense isn’t common anymore.)
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To: The Louiswu

Was the crash orchestrated by Black Rock and other predators?

My youngest daughter sent me a podcast around the beginning of Covid by a woman (Kathy something) who had worked for the Rand Corp, Black Rock and later in the Trump admin.

This was before defund the police and Covid had started their destruction.

Her point was, all this is a real estate deal. Drive out the old money then buy at rock bottom.

Then bring in law and order DA’s and cops, then watch everyone clap while they pick up the best real estate in the major cities.


14 posted on 08/03/2024 11:09:32 AM PDT by jcon40 (Leftists are usually obnoxious Bullies)
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To: FlingWingFlyer
Hit the bugle!

At first I read it as Hit the bulge!

Since it was referring to Harris, it made sense.

15 posted on 08/03/2024 11:10:20 AM PDT by hole_n_one
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To: jcon40

I think that is what happened in New York and California.


16 posted on 08/03/2024 11:12:17 AM PDT by Jonty30 (Genghis Khan did not have the most descendants. His father had more. )
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To: delta7

The silicon chip doomed central business locations. The collapse of the criminal justice system and Democrat policies in big cities was the coup de grace.


17 posted on 08/03/2024 11:13:05 AM PDT by allendale
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To: jcon40

That could happen—or the collapse could be permanent.

The Internet has changed everything.

High cost urban offices and living may be an amusing artifact in fifty years—like eight track tapes.

Most of the big cities were originally built on waterways (oceans, rivers etc) to assist with transport.

They really are becoming obsolete—or at a minimum way overpriced.


18 posted on 08/03/2024 11:15:05 AM PDT by cgbg ("Our democracy" = Their Kleptocracy)
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To: TexasGator

It took twelve posts for an ad hominen attack.

https://www.txst.edu/philosophy/resources/fallacy-definitions/ad-hominem.html


19 posted on 08/03/2024 11:17:22 AM PDT by cgbg ("Our democracy" = Their Kleptocracy)
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To: cgbg

Wiki:

CFTC violations
In 1985 Armstrong was found to have violated Commodity Futures Trading Commission regulations by failing to register as a commodity trading advisor, failing to deliver required disclosure documents to clients, and failing to maintain proper records.[3] In 1987 one of Armstrong’s trading entities, Economic Consultants of Princeton Inc., was charged with failing to disclose a commission sharing agreement, and another of his entities, Princeton Economic Consultants Inc, was charged with misrepresenting hypothetical performance results and omitting a required disclaimer in advertisements.[3] The penalties levied banned Armstrong and his companies from trading for twelve months, revoked their registrations, imposed cease-and-desist orders, and levied civil penalties totalling fifty thousand dollars.[3]


20 posted on 08/03/2024 11:22:15 AM PDT by TexasGator
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