Posted on 04/09/2023 5:18:26 AM PDT by cutty
Translation:
New York City is dying
Hear that? Anyone who needs an apartment building or office building, now’s your chance!
Updated Dire Straits lyrics:
“We’ve gotta move these
apartment buildings
We’ve gotta move these office buildings.”
Some folks around here confuse employees with slaves and think the corporations can order their peons to resume their old nasty commute in the office.
The middle finger is getting a lot of exercise out there...
Just wait until those doofuses who bought residential homes at hyper inflated prices go into foreclosure....that’ll be fun.
History ALWAYS repeats itself, especially when democrats are “in charge”.
I live in Wakulla, a formerly rural county just below Tallahassee. There’s still an insane amount of residential construction here. I say insane because the finished units are not selling. They’re building about a hundred-unit complex that was planned on being condos at $195k each. They’re about 1600 sq feet with half of the second floor with a 45-degree stairway. Several buildings have been completed and they’re now for lease rather than sale. Evidence indicates not one has been occupied despite three months since the most recent was finished. Still building.
This means those units will eventually be Section 8 housing. They will be a ghetto.
If demand drops will prices drop? Will creative financing increase? Will contract sales increase where the owner can get out of management but lose any future increase in price...plus risk on both sides?
That apple has a rotten core. It’s a wonder it hasn’t sunk into the East river
We’ve got 5,000,000+ more illegals we need to house. I am sure we’ll be picking up the tab for them to live in such places.
I see new apartment buildings going up everywhere. It’s one of the few things developers can get financial backing on because our federal government will back them if they commit to “low income” housing. They’ll build nice apartments in nice neighborhoods and then allocate so many as “low income” to get the kickbacks.
Housing all those illegals crossing our
border.
Banks like Silicon Valley, Signature Bank.. got stuck with bad loans tied to dead assets, then the federal government - us taxpayers get hit.
I asked the developer three times how many units were set aside for “affordable housing.” Each time he ignored the question. Usually, it’s ten percent. But I suspect it will be 100 percent.
I’m about a mile away and on five acres in a development of mostly mobile homes also on five-acre plots. When I see those units getting occupied, I’ll be investing in a security system.
Companies forcing workers to return to the office get two benefits - they keep the lenders happy, and they can downsize without layoffs.
Well this is Obama 3.0 so ...
Kill the unholy beast!
Will be confiscated or at best discounted prices if the owners are lucky to be used for housing the mentally ill homeless, watch..........
Pfascist rent “moratoriums” would keep any smart potential landlord away.
You can’t have pervasive apartment living in a Tower of Babel society. People want to be with their own kind.
Even in Euro-centric America, places like upstate NY where I am from, people sectioned off in areas according to ethnicity. There were Polish areas, Irish areas, German areas...etc.
NYC has always been and still is, for the most part, like this. Dominican areas, Russian areas, etc
Or not. Has there ever been a time in modern U.S. history where home prices actually declined over a period of 5 or more years?
Rents mostly doubled. Why sell in that market?
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