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It’s what happened to all the billionaires that got into the NYC market in 2007. Sold everything at 50+% loss and shit on the economy.
by what-the-grump 9y ago
It’s what happened to all the billionaires that got into the NYC market in 2007. Sold everything at 50+% loss and shit on the economy.
- winslow 9y agoCan you expand on this a little bit? Billionaires wouldn't necessarily unload their properties when the market took a dump. If anyone, billionaires would be the most likely to be capable of weathering the storm (depending how leveraged they were) and hold on to the property until present day where property values are generally back to where they were circa 2008 housing bust.