The writer is misattributing the problem (empty storefronts) to "real New Yorkers" being crowded out by ghostly foreign investors, when actually it's just e-commerce that's doing this in not only but all over America.
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Replying to @Molson_Hart @jamiepastore
Also, the writer (and this is typical) hasn't noticed how much rents have fallen in 2 years (last I checked 15%) simply because of how much building is being done. It was an amusing read but it was mostly noise, IMO.
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Replying to @jamiepastore
Yeah...the thing is, for new york, and this is reflected in falling Rents, the building isn't just happening on billionaires row. It's happening big time in LIC, in Brooklyn, in Queens. Manhattan perhaps not so much.
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Replying to @jamiepastore
When you don't actually live in NYC, that is what happens because all the transportation into NYC lead to Manhattan, not Queens or BK.
7:29 AM - 1 Jul 2018
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