Posted on 02/28/2024 8:02:59 AM PST by Vigilanteman
The Canada Pension Plan Investment Board, the biggest pension in Canada, has completed a string of recent deals at discounted prices, including a sale of its stake in a New York building for $1, Bloomberg reported Tuesday.
Commercial real estate concerns have escalated thanks to the pandemic's work-from-home boom and high interest rates in the wake of the Federal Reserve's inflation fight, and the gravest fears center on what some described as the office apocalypse.
Office vacancies hit an all-time high in January and remote work looks like it's here to stay, darkening the outlook for investors in the space.
(Excerpt) Read more at msn.com ...
This may be the latest example of mega-cities like New York losing their stranglehold over a nation's destiny due to their arrogance.
Others in history include:
$1 in the pocket is better than paying out millions of dollars ,LOL
“The deep state’s decision to unleash the corona virus so they could control elections with manufactured mail-in voting thereby showing many more people could work from home”
or India or Vietnam.
Here in the US, we always sell the worst deals to foreign investors. Canada and Japan are usually good for a lot of money.
Of course, in foreign countries, US investors get the same treatment.
If you don’t understand the how the markets work and what the laws are in the country your are investing in, you are quite likely to be sold the investments domestic investors pass up.
why sell???
“...make the Soviet Union seem just a little less threatening.”
Along these lines, This Guy saw this happen first hand—awesome!—Slava class cruiser Marshall Ustinov peacefully pulling into port at Hampton Roads, Virginia:
https://www.upi.com/Archives/1989/07/21/US-Navy-welcomes-Soviets/8677616996800/
So, help me with this. If it is “fraud” to overvalue what you own (even no one was defrauded), isn’t it also then “fraud” to undervalue your property to get out from paying taxes on what it is worth versus what you sold it for?
Probably a lot of debt goes with it.
I live in NY State. It has become two completely different worlds between NY City and Upstate in politics, society and economics.
NY City and its politics dominate the State, which means high taxes, wokeism and ridiculous marxist mandates hobble upstate, while the City and downstate survive only on printed, fiat money, financial trading and debt.
Anything that diminishes the power of the Democrat money-power machine is a good thing.
Escape from New York.
Sounds like a movie.
that’d do it...
Seattle is the same. The 3 counties that surround Puget Sound (King, Pierce & Snohomish) basically run the State due to population numbers.
When my husband & I moved to this State 43 years ago, it was a beautiful place. We could walk around Seattle at night and not feel at all unsafe. Now, I wouldn't go there during the day. It is a sin what the Left has done to this beautiful place. Homeless all over the sidewalks and parks (that are paid for by the tax revenues from the citizens who can no longer use the parks).
“why sell”
Negative cash flow.
It is a killer.
and taxes
When you have negative cash flow you can’t afford to pay the taxes.
Lol.
yup...
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