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Covid-19 deaths per million
New York: 1661
Sweden: 543
Imagine a situation where you have an arrest warrant for a some guy suspected in an armed robbery from the night before. Its Saturday Night after 10pm. You pull onto his street and there are 10 to 12 grown men just lounging around in front of his bldg. You know some of them are probably armed, some are already 2-time felons and they dont want to go back a third time.
Who wants this job?
No, from the historical society removing ugly facades from federal buildings.Would you say that Timothy McVeigh was a "peaceful protester?"
Or was he more of an "austere religious scholar?"
...including the Mayor.if anyone needs to be laid off, it's useless NYC city workers.
...including the Mayor.
But if crime continues to increase who will want these properties? Police protection has gone from poor to non-existent. Many businesses that have been closed for almost 6 months will never reopen. The exodus out of NYC has accelerated since the Covid. With the properties being overpriced to begin with, I say the mayor is welcome to the properties.I've heard an interesting conspiracy theory I never thought of. With all the people moving out of NY the property prices are beginning to tank big time. Lots of million dollar properties are going to be sold for pennies on the dollar. Some people are now saying this was the plan all along for the mayor and his rich friends to swoop in and get some cheap deals and when prices go back up they will make out like bandits. Evidently the NY mayor also owns a lot of properties in the city already.
I'm in Tx but I work for one of those big Wall Street banks and pretty much everyone is talking about not needing to be close to the city anymore and how they are free to move out now. The exodus is just starting. All these companies going WFH means that people aren't tied to the city anymore. They are going to beat feet as soon as they can. The commercial rents are going to go through the floor in the next 12 months.But if crime continues to increase who will want these properties? Police protection has gone from poor to non-existent. Many businesses that have been closed for almost 6 months will never reopen. The exodus out of NYC has accelerated since the Covid. With the properties being overpriced to begin with, I say the mayor is welcome to the properties.
I hope Trump does not cave
Maybe COVID can be a blessing. If it disrupts enough of the entrenched elite interests, maybe it opens up some opportunities for good change. Universities all going virtual may hurt elite school reputation, etc.
But if won't if those who would make the changes don't step up and lead to the new way of doing things.
I got rid of every REIT exposure I had in my investments for precisely this reason.I'm in Tx but I work for one of those big Wall Street banks and pretty much everyone is talking about not needing to be close to the city anymore and how they are free to move out now. The exodus is just starting. All these companies going WFH means that people aren't tied to the city anymore. They are going to beat feet as soon as they can. The commercial rents are going to go through the floor in the next 12 months.
I got rid of every REIT exposure I had in my investments for precisely this reason.
I invested in REITS because I think they will outperform S&P once a vaccine is approved.Smart move. I personally have liquidated every asset I hold except for my house. I feel confident if money is still worth something after the election there will be a major correction and it will be Christmas for anyone with liquid capital.