NYC Apartment Building Sales & Values Plunge After New Rent Law

[Scott Mac]

Total transaction value falls 40% and total transactions are down 36%. Instant devaluation.

Renovations will probably stagnate too--meaning Slums cannot be to far away for some of these places.

Then they they will probably pass more laws to "Crack down on" the Evil Slum lords who own these places.

What's next in some of these areas, old Soviet style Khrushchyovka Grey block flats with one common kitchen for all, to house the "good" Komrads and everyone else to the Siberian Salt mines.

(First they came for the Big Gulps)

https://www.bloomberg.com/news/articles/2020-01-27/nyc-apartment-building-sales-plunge-after-rent-rules-dent-values