NYC property value and rental bubble set to BURST

Didnt someone post in another thread something like 75% of renters hadnt paid rent since March (a few months ago granite)?
 
unless ppl start acting like covid doesn't exist then i don't see how the economy doesn't collapse in about another year or 2.
 

Due to places closing, covid and people moving, a lot of people feel the rents aren't worth it anymore.
Yep, that couple in BK from out of town with the "Spread love it's the Brooklyn way" sign in the storefront? They're gonna head right back home soon before **** gets worse for business

Other out of towners who are better off will try to finally get their place in Manhattan and leave the outer boroughs

Those six roommates living situations won't be as prominent in the city
 
Yep, that couple in BK from out of town with the "Spread love it's the Brooklyn way" sign in the storefront? They're gonna head right back home soon before **** gets worse for business

Other out of towners who are better off will try to finally get their place in Manhattan and leave the outer boroughs

Those six roommates living situations won't be as prominent in the city

This tbh. It’s not like rent in Manhattan is going to compare to rent in Detroit, suddenly. More likely than now, the city will try to incentivize landlords to keep tenants by lowering rents and offering them tax incentives (which are obviously offset on a macro level by more tenants living in the city and paying various city taxes).
 
Imagine if all these commercial real estate mortgages were bundled up together in complex investment vehicles and speculated upon wildly to the point of overexposure on the part of the country's top lenders? Wouldn't that be something?
 
I just want to cop a decent crib in queens for not an outrageous amount of money

if not I might have to take my talents upstate or to bum *** Long Island
 
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