There is large pressure to bring back office workers in NYC. Somewhere between 25 to 40 percent of office workers many never return, that is a massive killer of office buildings value which would also affect Property taxes and outstanding loans on these buildings. Next would be the reduction in demand for merchants such as restaurants. Restaurants cannot survive on loss of 25 to 40 percent of customer base. Again another hit on the tax base. So why does the government allow the increase in crime? This just furthers the devastation of NYC. Either the leaders are idiots or this is on purpose. You would think the money men of NYC would convince the leaders to stop the problem. So I guess I answered my own question.
Most wealthy get rich off real estate, not stocks or bonds. There's far more money involved. Smart-money profits off dumb-money, and there's far more dumb-money in real estate. The most common tactic is to destroy the value of a real estate market by importing undesirables, buy it, throw the bums out, then profit. Blockbusting is a form of it, although in the suburbs, bombing a neighborhood with section 8 Democrats is the modern equivalent.
WHO wants to live in these big cities anymore?? UGH.
Yes, I am bewildered that this hasn't happened.
You would think the money men of NYC would convince the leaders to stop the problem…”””
I think they are trying but they’re dealing with Stalins and Hitlers and Maos and that type knows better.
I think it's on purpose:
San Francisco YouTuber Rebecca Watson: “I cannot stress enough that stealing from big box stores is fine”
This just furthers the devastation of NYC. Either the leaders are idiots or this is on purpose. You would think the money men of NYC would convince the leaders to stop the problem. So I guess I answered my own question.
When there is no hope and no new wealth being created it becomes a game of marbles. There are only so many marbles and the goal is to get your share before the game ends.