Housing prices in New York have been falling for a few months, but the cycle will turn as it always does.
Im not feeling it. Wealthy foreigners want to leave a socialist dystopia to go to another socialist dystopia exactly why?What were seeing is a cycle of self-destruction of a socialist dystopia. We had another one during the Mayoralty of David Dinkins. The cause of this one is more precipitous than that one, and its causing a lot of readjustment in response. The internet is enabling those adjustments, and people who dont have to live in NYC dont even have to live in commuting distance of NYC.
Its not a lack of people, its a loss of the economic viability which sustains a population.
Democrats talk of being woke, but the cultural impact of this dystopian government of NY (city and state) will reverberate for a long time.
Compared to Buenos Aires or Caracas, New York is in fine shape.
You might be right, but if I believed in gambling, I would bet on the worlds’ rich people’s deciding they’ll keep NYC in play.