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People cry tax avoidance, but I'm assuming these will MOSTLY be areas where no one and their mother would want to reasonably invest. Areas with little hope for
by charlesdm 8y ago
People cry tax avoidance, but I'm assuming these will MOSTLY be areas where no one and their mother would want to reasonably invest. Areas with little hope for the people there to establish themselves in a good life.
If this moves some money into these underdeveloped areas, after a 10 year stock market bull run, then great. Most of the investments will go to zero, but the ones that don't might have a good impact for the people living there.
- heavenlyblue 8y ago>> assuming Are there actual numbers somewhere?
- thrmsforbfast 8y agoThere's a map in the article. some of the zones are legitimate opportunities. A lot of them -- and the ones most likely to attract investment -- make it patently clear that this is a low-risk give-away.
- wefarrell 8y agoI live 2 blocks from one of these areas and used to live in one. I was immediately able to find a 400 sq foot studio for $3,250 per month inside one: https://streeteasy.com/building/235-adams-street-brooklyn/14a https://streeteasy.com/building/235-adams-street-brooklyn/14...
- njarboe 8y agoNot saying that things aren't really expensive but this place has a "days on market" of 1529 and is 20% bigger at 473 sq ft.
- thrmsforbfast 8y agoIf you look at the map, you'll notice areas with white hot housing and rental markets (2k+ rents, 600k+ floors of houses). See my other comment for a concrete example. Even worse, the zones are chosen by governors and the rules for selecting them are extremely lax. I know enough about the local politics of where I grew up to know that at least one of the OZs makes literally no sense and is 100% a kickback to a major gubernatorial donor.