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- 4 de Ago, 2020
Only modern rich people are stupid enough to skin the sheep instead of shearing them. You can't sell houses to poor people who can't even pay rent. They all saw the figure of the house cost rise and automatically assumed they can sell it for that, not realizing that most people can't toss around half a million dollars on a whim.I thought a lot of those investment groups like Blackrock are trying to unload their housing stock, 'cause it turns out (...shocker!) most Millennials & Gen Z cannot afford to buy property at the moment due to wage stagnation/high interest rates?
What I'm trying to say is, I'm cynical enough to suspect this is some sorta disguised bailout for property hoarding firms. I'll let AI explain it better:
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All those investment firms with huge housing inventors are losing money due to the cost of maintaining property & not being able to sell said houses for a profit. & renting out the properties/becoming a slumlord isn't profitable (requires full time property management staff, & many states make it near impossible to evict rent delinquent tenants).
Then again, many modern plutocrats live in a bubble of their own and rarely see the real world, so it's not that surprising. Trump can talk all he wants about the tariffs being good for everyone, but all it does is ruin people's finances, which is something any common-sense person could've told him. But of course, he fired them all and replaced them with butt-kissers.
Many of these Manhattan elites are people who have managed businesses and expanded empires of commerce; a lot of them are old money types who have worked hard to maintain the empires that their ancestors have built. All Trump did was waste daddy's money and sue for bankruptcy while pretending everything is fine. They have every reason to hate his guts. He's a living embarrassment to their kind.For NY it's personal, Trump has spent his entire life desperately seeking the attention and approval of Manhattan elite society (the type of people who have like, galleries at the met named after them) as an outer borough guy they considered crass at best, and his grudge and resentment over it never ended.
Fuck, as much of an authoritarian as Mike Bloomberg is, (LOL sodas) I'd have voted for him over Trump right off the bat. The dude knew how to keep things tidy. He's the kind of NY elite who actually belongs in politics.
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