Growing number of empty apartments at the same time growing number of homeless

If you got a stimulus check and kept it you need to stfu. Cuz that's how you got it.

Jo
Don't be stupid! Only 10% was sent out as stimulus checks & I didn't get any. 90% went into the swamp!

“If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”

“I sincerely believe that banking establishments are more dangerous than standing armies, and that the principle of spending money to be paid by posterity under the name of funding is but swindling futurity on a large scale.” –Thomas Jefferson to John Taylor, 1816. ME 15:23
 
Don't be stupid! Only 10% was sent out as stimulus checks & I didn't get any. 90% went into the swamp!

“If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”

“I sincerely believe that banking establishments are more dangerous than standing armies, and that the principle of spending money to be paid by posterity under the name of funding is but swindling futurity on a large scale.” –Thomas Jefferson to John Taylor, 1816. ME 15:23
“I sincerely believe that banking establishments are more dangerous than standing armies"

Yep ... And they always have been.
 
“I sincerely believe that banking establishments are more dangerous than standing armies"

Yep ... And they always have been.
You ever earn any interest on your money? Or is some female teller a guy's allegedly "interested in" and they charge fees, fees, and more fees?
 
You ever earn any interest on your money? Or is some female teller a guy's allegedly "interested in" and they charge fees, fees, and more fees?
Banks now have so much newly printed money, they will never again offer interest to attract more depositors money. They are all about fees & offer incentives for shoppers to use their credit cards so they can tax retailers 3% on each transaction.
 
“If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”

That's my favorite fake quote!!!
 
Unregulated Wallstreet Shadow Banking Caused Record Vacant Housing Units prior to 2009. We are nowhere near that vacancy level now & house prices are setting all time highs due to money printing. There is no housing bubble, only a currency bubble.
fredgraph.png
 
Well I don't think anybody saw this coming.... Locally ( never mind where) I've been watching the real estate market waiting for the Multi-family bubble to burst....prior to the pandemic the investor demand for these properties pushed the pricing up to almost $150.00 per square foot....totally insane for the economic bracket that makes up this area. I thought for sure that the eviction moratorium would drive this market down....but nope. What has happened instead is the near complete disappearance of the Rental market. As the apartments go empty the landlords renovate and then simply lock it up with no intentions of re-renting any time in the near future. One of the local property hounds here funded by streams of foreign investment money takes the empty places and turns them to condos....huh.....never thought I would see that happen because it didn't make any sense in the pre-pandemic market. So I have noticed a growing list of multi families languishing on the market right now with very few offers coming in from anyone except for the big investors ( I am assuming ) who can take the hit of a non paying tenant while they wait for the apartment to go empty. So what has happened is the worst case scenario for the local market....not only are the rentals virtually gone...what used to be a decent deal for a decent apartment is also gone. With the renovations the individual units are going for as much as $200-$250 per square foot to buy and own....not to rent..... while the streets begin to fill up with homeless people...many of whom hold regular jobs to boot.

Hey Big Government! Smart move bowels!

JO
You b sayinz balance aint cool ?
 
You b sayinz balance aint cool ?
What I am saying actually is that I never thought I would see the parameters of basic sustenance ( roof over head for instance ) walk past the point where people working full time regular jobs are now homeless.
 
Well I don't think anybody saw this coming.... Locally ( never mind where) I've been watching the real estate market waiting for the Multi-family bubble to burst....prior to the pandemic the investor demand for these properties pushed the pricing up to almost $150.00 per square foot....totally insane for the economic bracket that makes up this area. I thought for sure that the eviction moratorium would drive this market down....but nope. What has happened instead is the near complete disappearance of the Rental market. As the apartments go empty the landlords renovate and then simply lock it up with no intentions of re-renting any time in the near future. One of the local property hounds here funded by streams of foreign investment money takes the empty places and turns them to condos....huh.....never thought I would see that happen because it didn't make any sense in the pre-pandemic market. So I have noticed a growing list of multi families languishing on the market right now with very few offers coming in from anyone except for the big investors ( I am assuming ) who can take the hit of a non paying tenant while they wait for the apartment to go empty. So what has happened is the worst case scenario for the local market....not only are the rentals virtually gone...what used to be a decent deal for a decent apartment is also gone. With the renovations the individual units are going for as much as $200-$250 per square foot to buy and own....not to rent..... while the streets begin to fill up with homeless people...many of whom hold regular jobs to boot.

Hey Big Government! Smart move bowels!

JO

Perhaps Cuomo was removed because he wouldn't take those apartments and turn them into public housing
 

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