richardmurray

Some one said: thousands may be evicted in NYC

I speak as someone whose clan is still in nyc, in many parts. 

NYC's people have a huge role in this situation. What I find many don't say is that in years past before I was born, and I imagine if NYC is around after my spirit flies, people in NYC aid or abet the real estate culture. What people have to say, is that NYC has men/women/old/young/white/black making money off of the real estate industry. A rainbow of people make money, yes most are white, but not all, off of the real estate industry. The real estate industry works by evaluations. As it grows, your wealth grows. But what does this mean, the only way rents can go down is by a total shutdown or collapse of the real estate system

In the past two years, I can recall in my mind seven properties in NYC were bought by people in humanity, not all white europeans, for millions of dollars. Pushing the value up and keeping it up. NYC is on a real estate roller coaster that has the advantage of a globally rich set of people who see that investment in NYC real estate in five years always returns an investment. Even I can remember some places in NYC , and I have a distaste for the real estate industry personally, that have had three different owners in my lifetime, each new owner paying more. It is a system that can't go down. THis past year, the oil countries made tons of money, they have to spend it to keep their currency down so buying real estate is easy cause they will make money back over a short time. 

NYC real estate market has a global rich set of people who know in five years you get back your money plus profit whenever you invest in nyc real estate, aside a local nyc real estate industry that while dominated by white jews is not exclusive to them. I restate, blacks/latinos/asians in NYC are all in the real estate game making money, so the real estate industry in nyc can't be attacked on ownership grounds. LAstly, many people in NYC aid or abet the rent situation by their own rhetoric. The bootstraps, individual accountability talk for some is coming back to hurt them. for others, the inability to get a large group to attack the real estate industry in nyc, ala all the real estate owners not white, meant it never changed.