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Wharton prof: foreign billionaires should by NY RE

Started by greensdale
over 12 years ago
Posts: 3804
Member since: Sep 2012
Discussion about
Joseph Gyourko, an economics professor at Wharton, adds that one incentive for the global super-rich to buy in New York, besides the proximity to world-class restaurants and entertainment, is that it may be a safe investment. “They may be buying to park money in a jurisdiction where they’re pretty sure it wouldn’t be expropriated,” he said. “If I were a Middle Eastern billionaire, you can bet I’d be parking a lot of money in New York.” http://economix.blogs.nytimes.com/2013/04/26/why-the-rent-is-so-high-in-new-york/
Response by columbiacounty
over 12 years ago
Posts: 12708
Member since: Jan 2009

did you attend wharton?

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Response by Truth
over 12 years ago
Posts: 5641
Member since: Dec 2009

"Park money"?!

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Response by alanhart
over 12 years ago
Posts: 12397
Member since: Feb 2007

Capital preservation, protection against economic stability at home. Park money. Yes.

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Response by Ottawanyc
over 12 years ago
Posts: 842
Member since: Aug 2011

Wow, what a bold thesis.

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Response by Truth
over 12 years ago
Posts: 5641
Member since: Dec 2009

The trollalanhart has no money to "park".
He's lucky to live in an apt. he can barely afford.
He doesn't have a social life and he gets his retirement-age jollies from trolling on streeteasy.

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Response by alanhart
over 12 years ago
Posts: 12397
Member since: Feb 2007

dreary and sad

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Response by Truth
over 12 years ago
Posts: 5641
Member since: Dec 2009

^^ more drunken trolling from alanhart^^,
who is sitting at his computer alone in his apartment at 12:30am, on Wed. 5/1/13.
A waste of NYC. retirement life, "dreary and sad" without any hope.

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Response by Consigliere
over 12 years ago
Posts: 390
Member since: Jul 2011

I know he really went out on a limb.

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Response by somewhereelse
over 12 years ago
Posts: 7435
Member since: Oct 2009

so... "your money won't get stolen" has replaced actually making money as the definition of "good investment".

Man, does Wharton suck.

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Response by greensdale
over 12 years ago
Posts: 3804
Member since: Sep 2012

Ali, is your favorite building for parking money the Atelier? http://streeteasy.com/nyc/talk/discussion/9708-atelier-what-is-wrong-with-this-building

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Response by greensdale
over 12 years ago
Posts: 3804
Member since: Sep 2012

somewhereelse
about 2 weeks ago
Posts: 7330
Member since: Oct 2009
ignore this person
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>so... "your money won't get stolen" has replaced actually making money as the definition of "good investment".
Man, does Wharton suck.

SWE, are you a foreign billionaire, or you can just relate?

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Response by somewhereelse
over 12 years ago
Posts: 7435
Member since: Oct 2009

Can't I be a local billionaire?

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Response by greensdale
over 12 years ago
Posts: 3804
Member since: Sep 2012

You could, but the advice was for foreign billionaires.

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Response by somewhereelse
over 12 years ago
Posts: 7435
Member since: Oct 2009

Maybe to try and turn them into foreign millionaires...

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Response by greensdale
over 12 years ago
Posts: 3804
Member since: Sep 2012

If a foreign billionaire puts $90 million into penthouse in NYC, he'll become a millionaire?

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