As the wealthy flee New York, poorest will be most affected

[Lomadeaux]

don't worry more big government and socialist programs will fix this!

lolollollll..........

[GhostofDempsey]

At longhaul I've started a several tattoo parlors a local clothing store from practically nothing just drive and ambition.So having no money is not a excuse

I'm curious if you are actually in NYC or upstate NY and what your rent is for each business. Overhead expenses, salaries, etc.

[Eff Pandas]

This might be good. Maybe they can tear down or redesign some of these expensive condo buildings & come up with affordable housing for more people. NYC used to be where a lot of creative people came up from. Rap music, disco & some crazy artists came outta NYC back when it was affordable in the 70's. Now its a bunch of hipsters with too much money in a place thats stacked on top of each other who complain about political sh^t & how much Game of Thrones last season sucked.

['b']

Don't worry more big government and socialist programs will fix this!

Can't we just print more money and give everyone ten million dollars so we are all rich and don't have to work again?

[BostonGuy]

‘We say ‘If you don’t take a risk, you don’t drink champagne.’’ Vladislav Doronin on why his Crown Building conversion is worth the gamble: https://t.co/C4W1AT39gV

— WSJ Mansion (@WSJRealEstate) June 13, 2019

[GhostofDempsey]

‘We say ‘If you don’t take a risk, you don’t drink champagne.’’ Vladislav Doronin on why his Crown Building conversion is worth the gamble: https://t.co/C4W1AT39gV

— WSJ Mansion (@WSJRealEstate) June 13, 2019

These tycoons selling luxury condos to other billionaires doesn't really do much for NYC. These are people who can afford multiple dwellings all over the country/world, and likely have residency someplace else that relieves them of the huge NYC tax burden.

There are about 250K vacant apartments in NYC now that aren't being filled for various reasons. A big part of the housing crisis also stems from the AirBnB, where many property owners find it more prosperous and less burdensome to rent by the day than lease out long term.

http://www.nydailynews.com/opinion/2...icle-1.3892656

[WarVeteranO01]

The rich get richer and the poor get poorer. This has been going on long before Trump and itll go on for centuries to come.

Every great society has had poor, middle, and upper class. The difference in the USA society is the opportunity is there for all, so if its no longer in NY then move elsewhere. Its pretty simple logic.

[WarVeteranO01]

Millennial's; "You mean I cant drive for Uber and live in NYC?"

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via GIPHY

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[giant_king]

At onebad65 I'm not in New York I'm in Michigan.but me not being in New York has nothing to do with that.the same rules apply.in Michigan the insurance and permits are quite low and was able to get even some rebates while starting a new business.but it all started with drive ambition.and when your a person of color they try and make it even tougher for you but you still conquer you still make it work.and on top of that I didn't have family to family inheritance like some of these wealthy privileged pricks do.i went out and did it

[1bad65]

At onebad65 I'm not in New York I'm in Michigan.but me not being in New York has nothing to do with that.the same rules apply.in Michigan the insurance and permits are quite low and was able to get even some rebates while starting a new business.but it all started with drive ambition.and when your a person of color they try and make it even tougher for you but you still conquer you still make it work.and on top of that I didn't have family to family inheritance like some of these wealthy privileged pricks do.i went out and did it

No, the same rules do not apply.

And if you're truly a business owner you would never have said such a ridiculous thing.


You keep speaking of drive and ambition, and while those are important, you have to have money to pay for rent, supplies, labor, permits, electricity, etc.

And when it costs too much money to open new businesses or keep current businesses profitable in a bad business climate, the business owners leave for a better business climate, just as is happening in NYC.