NYC has the largest number of high end residential properties owned by LLCs, Trusts, non-profits and any other tax dodge the finest lawyers and accountants can dream up! The don’t pay a lot of tax……
true, a lot of wealth shifted to the top, due to more greedy business/politicians than good guy like president trump.
but due to those tax dodges, nyc will be propped up to ensure this lasts forever, nyc is too big to fail like d.c will last until we are no more