Unfortunately, owners of the real estate benefit more from continuous asset price inflation than from rent income. They're in it for the long run. If Fortune-50

Unfortunately, owners of the real estate benefit more from continuous asset price inflation than from rent income. They're in it for the long run. If Fortune-500 companies can stay unprofitable for a decade, why can't real estate? It's not like NY wasn't already a shitty deal from a tenant's perspective before COVID. It just got a lot more shitty. From an investor's perspective, it doesn't look that bad. The selling pressure just isn't there. For instance, if you're from China and you already own high-rise apartments in a Chinese ghost town, might as well scoop up something in not-quite-dead-yet NYC.