Monday, April 9, 2007

Foreign investors snapping up condos

The Post confirms what the Crapper has been saying all along:

New York real-estate brokers and developers are passing up dollars for euros, pounds, won and rubles as overseas buyers eagerly snap up pricey city properties.

Brokers are on a new push to sell million-dollar Manhattan condos to buyers in Paris, London, Seoul and Moscow who like the city's steadily rising real-estate values and seek to add profit by taking advantage of the cheap dollar.


We're allowing our city to be destroyed for the benefit of people in foreign countries. It's only going to get worse for those who actually want to live here.


Anonymous said...

Remember, we have no borders. So the demand for space is infinite.

Add to the mix overseas 'hot' money and the supply of capital is just about infinite.

The voters and taxpayers that are trying to cope with this? Well the only question is how much will they suffer before they rebel?

Any ideas?

Anonymous said...

There was a book "City For Sale" (Wayne Barret & Jack Neufield) that chronicled NYC's corruption....the Manes PVB scandals etc.

I guess now the title has new meaning!