I believe anyone who can make temporary arrangements might opt to do so then buy back in when things settle down; I also think anyone with property in the new expanded “sh!thole” zones should sell because I don’t see any recovery for those areas at any point in the coming decades. On top of that, they are often in areas where ChiCom virus lockdowns have seriously impacted tax revenues, so the prospects for those areas are even dimmer.
Many of these sh!tholes are banking on a bailout from “President Joe Biden”; turning them from tax generators to just more outstretched palms doesn’t bode well for any normals/makers there.
“Many of these sh!tholes are banking on a bailout from “President Joe Biden””
Oh, yes. We agree!
If you have a few minutes you may want to watch the first 5 or 6 minutes of the video below. It is from a podcast guy in NYC that prompted Jerry Sienfield to write an oped in the NYT rebutting this guy’s story.
He seems very credible and he explains how NYC has dug themselves a hole that is going to be impossible to fill. The guy even asks the question, what will the rest of the country’s taxpayers do when they are asked to send billions of dollars in their tax money to bail out NYC. His take is very interesting about what could happen — and to me is not a big stretch. In fact, it brings up the broader question of a Biden president raising taxes big time to bail out all of the lib states that have dug the same wholes — or worse.