Unless these are new-construction luxury apartments (which the article doesn’t specify), no net migration is implied by a sale. Someone sold, someone bought. What a strange article.
The occupancy of apartments, especially luxury ones, cannot be assumed. The average number of people living in them also cannot be assumed to be constant.
Of course the article doesn't mention statistics around either of these.
There's an article about luxury apartments sitting empty. Condos of the living dead or something similar that gets passed around in the construction field around these parts.
Those that have other assets which are outperforming real estate can sometimes be the only ones who can actually afford some of the properties, which can change hands until they come to rest under such a situation.
At which point they can afford to hold on to them through lean times in anticipation of future appreciation, and in that case it doesn't make much difference if there is anyone living there or not.
If it’s true that both people and investment dollars are flowing into NYC, but investment dollars are flowing even faster than the people, that’s absolutely hilarious.
Unless these are new-construction luxury apartments (which the article doesn’t specify), no net migration is implied by a sale. Someone sold, someone bought. What a strange article.
The occupancy of apartments, especially luxury ones, cannot be assumed. The average number of people living in them also cannot be assumed to be constant.
Of course the article doesn't mention statistics around either of these.
There's an article about luxury apartments sitting empty. Condos of the living dead or something similar that gets passed around in the construction field around these parts.
Notably prescient
Those that have other assets which are outperforming real estate can sometimes be the only ones who can actually afford some of the properties, which can change hands until they come to rest under such a situation.
At which point they can afford to hold on to them through lean times in anticipation of future appreciation, and in that case it doesn't make much difference if there is anyone living there or not.
If it’s true that both people and investment dollars are flowing into NYC, but investment dollars are flowing even faster than the people, that’s absolutely hilarious.
Packing bunk beds into apartments can easily allow mass migration into cities.
Not that I would want to.
Feels like the article started with a conclusion and worked backwards to fulfill it
He hasn’t even started yet. Why would anyone move before we see what he can actually accomplish?
Because people like Ben Shapiro already said they will never visit New York City while he's mayor.
Fulfilling campaign promises hasn’t mattered for years now.
hype
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