“If I’m a billionaire investor trying to preserve my wealth for the long term, I’m looking at key buildings in major cities."https://www.bloomberg.com/news/articles/2019-05-21/spain-s-richest-person-bets-billions-on-prime-u-s-real-estate …
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Replying to @lisaabramowicz1 @retail_risk
I generally agree, but this may not happen if pressures from pensions and the poor result in significantly higher property taxes. I'd feel skittish about doing this in Chicago for example.
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I agree, real estate is a captive asset to some extent. An easy target for public budget problems.
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Good way to put it. Captive asset. I like that.
7:37 AM - 21 May 2019
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