Wharton prof: foreign billionaires should by NY RE
Started by greensdale
over 12 years ago
Posts: 3804
Member since: Sep 2012
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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/
did you attend wharton?
"Park money"?!
Capital preservation, protection against economic stability at home. Park money. Yes.
Wow, what a bold thesis.
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.
dreary and sad
^^ 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.
I know he really went out on a limb.
so... "your money won't get stolen" has replaced actually making money as the definition of "good investment".
Man, does Wharton suck.
Ali, is your favorite building for parking money the Atelier? http://streeteasy.com/nyc/talk/discussion/9708-atelier-what-is-wrong-with-this-building
somewhereelse
about 2 weeks ago
Posts: 7330
Member since: Oct 2009
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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?
Can't I be a local billionaire?
You could, but the advice was for foreign billionaires.
Maybe to try and turn them into foreign millionaires...
If a foreign billionaire puts $90 million into penthouse in NYC, he'll become a millionaire?