NY Bankrupcy

Trending on FauxNews right now regarding the NY exodus.

I’ll assume what they say is true:

  1. NY is heavily indebted at both the state and city levels.
  2. The exodus creates a downward death spiral in terms of tax revenue.
  3. NY will lose a house seat, and potentially more down the road.

What is NY’s future? What are our fellow NYers gonna do?

NYC survived the 70s, 9/11 and the Great Recession - they will survive this as well. Real estate prices will be down for a while but investors will swoop in and capitalize when the pandemic becomes a distant memory, and in this day and age a distant memory is about 2 years.

NYC is the one with the really big debt problem (especially pensions).

Of course, NYC going under will be a problem for the whole state. But at least it is able to declare bankruptcy, unlike the state.

In addition, NY may lose two House seats, not only one.

@ao_fan sell before you’re trapped!

oh nice, got a badge for that @

But do you get a commission when ao_fan sells? I bigger commission the sooner she sells, if real estate really tanks.