{"id":1827964,"date":"2023-01-29T11:21:04","date_gmt":"2023-01-29T16:21:04","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1827964"},"modified":"2023-01-29T11:28:57","modified_gmt":"2023-01-29T16:28:57","slug":"steve-cuozzo-why-nyc-must-keep-its-markets-global","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/steve-cuozzo-why-nyc-must-keep-its-markets-global\/","title":{"rendered":"Steve Cuozzo: Why NYC Must Keep Its Markets Global"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fsteve-cuozzo-why-nyc-must-keep-its-markets-global%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1827964&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><br \/>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Canada recently banned non-Canadians investing in residential properties for two years. The move was made to cool an overheated market that saw Canada&#8217;s average home price rise. <a href=\"https:\/\/www.globalpropertyguide.com\/North-America\/Canada\/Price-History\">2021: 20% increase <\/a>\u00a0Meanwhile, Florida Gov. Ron DeSantis would like to prohibit companies from China from selling homes or farmland in Florida. \u201chostile\u201d nation.<\/p>\n<p>These measures are possible in New York City.\u00a0 Of course, you can\u2019t, because our \u201cglobal capital\u201d Status means that we will accept as many UK pounds and euros, Chinese renminbi Chinese shekels, Japanese yens, Israeli shekels Moroccan dirham, Saudi riyal, Chinese renminbi, Chinese renminbi, Chinese renminbi, Chinese renminbi, Chinese renminbi, Japanese youens, Chinese yens, Chinese hekels, Chinese reminbi, Chinese yens, Chinese senminbi, as well as possible to the five boroughs.\u00a0<\/p>\n<p>London is the world&#8217;s most powerful magnet for investors from all corners. Our city, however, remains the greatest. This is something that New Yorkers take pride in and know. Sure, there\u2019s been sporadic ire at outsiders before. <a href=\"https:\/\/www.businessinsider.com\/mansion-tax-nyc-revised-increase-changes-explainer-2019-8\">A new \u201cmansion tax\u201d In 2019 it was launched<\/a>For instance, it could partially be due to backlash at absentee <a href=\"https:\/\/www.nytimes.com\/2015\/02\/08\/nyregion\/stream-of-foreign-wealth-flows-to-time-warner-condos.html\">Foreign owners left entire residential towers empty.<\/a>.\u00a0<\/p>\n<p>In New York, which is home to three million immigrants from overseas, political brainstorms would be futile. Even in the far-simpler Canadian market \u2014 where unlike the Florida proposal, the new law has a putative dollars-And-cents rationale \u2014  the restriction only \u201ckills off economic opportunity\u201d and \u201chas done\u00a0 nothing to solve the affordability challenge in Vancouver,\u201d Jim Costello is the chief economist of Morgan Stanley&#8217;s investment research firm MSCI.<\/p>\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/justin-trudeau-02.jpg\"><button class=\"button button--modal-trigger\" aria-label=\"Open the image in a modal.\" data-modal-image=\"25531550\"><\/p>\n<p><\/button><br \/>\n<img loading=\"lazy\" decoding=\"async\" data-modal-image=\"25531550\" width=\"1024\" height=\"682\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/justin-trudeau-02.jpg\" alt=\"Canadian Prime Minister Justin Trudeau has ushered in a ban on foreigners owning property in Canada in an attempt to reign in out-of-control housing costs.\" class=\"wp-image-25531550\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/justin-trudeau-02.jpg?quality=75&#038;strip=all 2000w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/justin-trudeau-02-2.jpg, 200&#038;quality=75&#038;strip=all 300w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/justin-trudeau-02-3.jpg, 512&#038;quality=75&#038;strip=all 768w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/justin-trudeau-02-4.jpg, 682&#038;quality=75&#038;strip=all 1024w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/justin-trudeau-02-5.jpg, 1024&#038;quality=75&#038;strip=all 1536w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/justin-trudeau-02-6.jpg, 709&#038;quality=75&#038;strip=all 1064w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/justin-trudeau-02-7.jpg, 250&#038;quality=75&#038;strip=all 375w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/justin-trudeau-02-8.jpg, 633&#038;quality=75&#038;strip=all 950w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/justin-trudeau-02-9.jpg, 585&#038;quality=75&#038;strip=all 878w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/justin-trudeau-02-10.jpg, 496&#038;quality=75&#038;strip=all 744w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/justin-trudeau-02-11.jpg, 90&#038;quality=75&#038;strip=all 135w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/justin-trudeau-02-12.jpg, 384&#038;quality=75&#038;strip=all 576w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/justin-trudeau-02-13.jpg, 316&#038;quality=75&#038;strip=all 474w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/justin-trudeau-02-14.jpg, 305&#038;quality=75&#038;strip=all 457w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/justin-trudeau-02-15.jpg, 293&#038;quality=75&#038;strip=all 440w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/justin-trudeau-02-16.jpg, 282&#038;quality=75&#038;strip=all 424w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/justin-trudeau-02-17.jpg, 260&#038;quality=75&#038;strip=all 389w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/justin-trudeau-02-18.jpg, 240&#038;quality=75&#038;strip=all 360w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/justin-trudeau-02-19.jpg, 227&#038;quality=75&#038;strip=all 340w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/justin-trudeau-02-20.jpg, 213&#038;quality=75&#038;strip=all 320w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/justin-trudeau-02-21.jpg, 209&#038;quality=75&#038;strip=all 314w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/justin-trudeau-02-22.jpg, 204&#038;quality=75&#038;strip=all 306w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/justin-trudeau-02-23.jpg, 187&#038;quality=75&#038;strip=all 280w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/justin-trudeau-02-24.jpg, 174&#038;quality=75&#038;strip=all 260w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/justin-trudeau-02-25.jpg, 164&#038;quality=75&#038;strip=all 246w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/justin-trudeau-02-26.jpg, 156&#038;quality=75&#038;strip=all 234w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/justin-trudeau-02-27.jpg, 130&#038;quality=75&#038;strip=all 195w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/justin-trudeau-02-28.jpg, 120&#038;quality=75&#038;strip=all 180w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/justin-trudeau-02-29.jpg, 114&#038;quality=75&#038;strip=all 171w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/justin-trudeau-02-30.jpg, 107&#038;quality=75&#038;strip=all 160w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/justin-trudeau-02-31.jpg, 96&#038;quality=75&#038;strip=all 144w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/justin-trudeau-02-32.jpg, 93&#038;quality=75&#038;strip=all 140w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/justin-trudeau-02-33.jpg, 71&#038;quality=75&#038;strip=all 107w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/justin-trudeau-02-34.jpg, 62&#038;quality=75&#038;strip=all 93w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/justin-trudeau-02-35.jpg, 56&#038;quality=75&#038;strip=all 84w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/justin-trudeau-02-36.jpg, 133&#038;quality=75&#038;strip=all 200w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/justin-trudeau-02-37.jpg, 154&#038;quality=75&#038;strip=all 231w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/justin-trudeau-02-38.jpg, 215&#038;quality=75&#038;strip=all 322w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/justin-trudeau-02-39.jpg, 58&#038;quality=75&#038;strip=all 87w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/justin-trudeau-02-40.jpg, 100&#038;quality=75&#038;strip=all 150w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/justin-trudeau-02-41.jpg, 33&#038;quality=75&#038;strip=all 50w\"   style=\"display:none\"><\/a><figcaption>Justin Trudeau, Canada&#8217;s Prime Minister, has instituted a ban for foreigners to own property in Canada as a way of reducing out-of control housing costs. <\/figcaption><figcaption><span class=\"credit\">REUTERS<\/span><\/figcaption><\/figure>\n<p>However, the Canadian and Florida measures, although unimaginable here, serve as wake-up calls for a heretical question. Namely, can the Big Apple become TOO internationalized, especially when its political and commercial institutions lose their juices and the social fabric is shredded?<\/p>\n<p>MSCI reports that foreign net investment in New York City commercial properties actually fell to $350 million in the fourth quarter. While this may be only a fraction of the global commercial market, any decline in global capital is troubling. <\/p>\n<p>Our collective identity is built on foreign wealth. It\u2019s part of our exceptionalism from the rest of the country. Spalding Gray described Manhattan as &#8220;a wonderful place.&#8221; \u201can island off the coast of America.\u201d<\/p>\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/ron-desantis-03.jpg\"><button class=\"button button--modal-trigger\" aria-label=\"Open the image in a modal.\" data-modal-image=\"25531559\"><\/p>\n<p><\/button><br \/>\n<img loading=\"lazy\" decoding=\"async\" data-modal-image=\"25531559\" width=\"1024\" height=\"682\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/ron-desantis-03.jpg\" alt=\"Florida Gov. Rick DeSantis recently Trudeau&#039;s when he proposed a ban on Chinese institutions buying homes or farms in his state.\" class=\"wp-image-25531559\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/ron-desantis-03.jpg?quality=75&#038;strip=all 2000w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/ron-desantis-03-2.jpg, 200&#038;quality=75&#038;strip=all 300w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/ron-desantis-03-3.jpg, 512&#038;quality=75&#038;strip=all 768w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/ron-desantis-03-4.jpg, 682&#038;quality=75&#038;strip=all 1024w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/ron-desantis-03-5.jpg, 1024&#038;quality=75&#038;strip=all 1536w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/ron-desantis-03-6.jpg, 709&#038;quality=75&#038;strip=all 1064w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/ron-desantis-03-7.jpg, 250&#038;quality=75&#038;strip=all 375w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/ron-desantis-03-8.jpg, 633&#038;quality=75&#038;strip=all 950w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/ron-desantis-03.jpg?resize=878, 585&#038;quality=75&#038;strip=all 878w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/ron-desantis-03.jpg?resize=744, 496&#038;quality=75&#038;strip=all 744w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/ron-desantis-03.jpg?resize=135, 90&#038;quality=75&#038;strip=all 135w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/ron-desantis-03.jpg?resize=576, 384&#038;quality=75&#038;strip=all 576w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/ron-desantis-03.jpg?resize=474, 316&#038;quality=75&#038;strip=all 474w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/ron-desantis-03.jpg?resize=457, 305&#038;quality=75&#038;strip=all 457w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/ron-desantis-03.jpg?resize=440, 293&#038;quality=75&#038;strip=all 440w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/ron-desantis-03.jpg?resize=424, 282&#038;quality=75&#038;strip=all 424w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/ron-desantis-03.jpg?resize=389, 260&#038;quality=75&#038;strip=all 389w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/ron-desantis-03.jpg?resize=360, 240&#038;quality=75&#038;strip=all 360w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/ron-desantis-03.jpg?resize=340, 227&#038;quality=75&#038;strip=all 340w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/ron-desantis-03.jpg?resize=320, 213&#038;quality=75&#038;strip=all 320w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/ron-desantis-03.jpg?resize=314, 209&#038;quality=75&#038;strip=all 314w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/ron-desantis-03.jpg?resize=306, 204&#038;quality=75&#038;strip=all 306w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/ron-desantis-03.jpg?resize=280, 187&#038;quality=75&#038;strip=all 280w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/ron-desantis-03.jpg?resize=260, 174&#038;quality=75&#038;strip=all 260w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/ron-desantis-03.jpg?resize=246, 164&#038;quality=75&#038;strip=all 246w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/ron-desantis-03.jpg?resize=234, 156&#038;quality=75&#038;strip=all 234w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/ron-desantis-03.jpg?resize=195, 130&#038;quality=75&#038;strip=all 195w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/ron-desantis-03.jpg?resize=180, 120&#038;quality=75&#038;strip=all 180w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/ron-desantis-03.jpg?resize=171, 114&#038;quality=75&#038;strip=all 171w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/ron-desantis-03.jpg?resize=160, 107&#038;quality=75&#038;strip=all 160w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/ron-desantis-03.jpg?resize=144, 96&#038;quality=75&#038;strip=all 144w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/ron-desantis-03.jpg?resize=140, 93&#038;quality=75&#038;strip=all 140w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/ron-desantis-03.jpg?resize=107, 71&#038;quality=75&#038;strip=all 107w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/ron-desantis-03.jpg?resize=93, 62&#038;quality=75&#038;strip=all 93w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/ron-desantis-03.jpg?resize=84, 56&#038;quality=75&#038;strip=all 84w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/ron-desantis-03.jpg?resize=200, 133&#038;quality=75&#038;strip=all 200w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/ron-desantis-03.jpg?resize=231, 154&#038;quality=75&#038;strip=all 231w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/ron-desantis-03.jpg?resize=322, 215&#038;quality=75&#038;strip=all 322w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/ron-desantis-03.jpg?resize=87, 58&#038;quality=75&#038;strip=all 87w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/ron-desantis-03.jpg?resize=150, 100&#038;quality=75&#038;strip=all 150w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/ron-desantis-03.jpg?resize=50, 33&#038;quality=75&#038;strip=all 50w\" \/><\/a><figcaption>Florida Gov. Rick DeSantis recently Trudeau\u2019s when he proposed a ban on Chinese institutions buying homes or farms in his state. <\/figcaption><figcaption><span class=\"credit\">AP<\/span><\/figcaption><\/figure>\n<p>Overseas lucre is indispensable to the city\u2019s treasury \u2014 and spirit. I love the sight of the Nigerian flag waving over East 44th Street&#8217;s government-owned mission tower. It is a wonderful place to live.<\/p>\n<p>The office tower that\u2019s home to the New York Post, 1211 Sixth Ave., is owned by a Canadian pension fund. Neighboring skyscrapers are owned or partly owned by Japanese, Korean, Qatari and German entities \u2014 along with a handful of nations we regard as adversaries.<\/p>\n<p>In countries as different as Brazil, Nigeria and China, Tycoons own condo apartments and townhouses. Alibaba billionaire Joe Tsai is a citizen of Canada, Hong Kong, Taiwan and Hong Kong. He paid $157 million to buy a palace-in the-sky in 220 Central Park South last Year.<\/p>\n<p>But there\u2019s a catch: As foreign fortunes permeate our economy and culture, the city has\u00a0 become unmoored from the political, economic and social pillars that defined us \u2014 and our strength. Without them, Gotham could degenerate further into anarchy. \u201copen city\u201d where buyers use empty apartments to hide ill-gotten gains from their governments \u2014\u00a0while our own institutions and communities wither.<\/p>\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/waldorf-astoria-01.jpg\"><button class=\"button button--modal-trigger\" aria-label=\"Open the image in a modal.\" data-modal-image=\"25531599\"><\/p>\n<p><\/button><br \/>\n<img loading=\"lazy\" decoding=\"async\" data-modal-image=\"25531599\" width=\"1024\" height=\"680\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/waldorf-astoria-01.jpg?w=1024\" alt=\"The Waldorf Astoria is currently mired in an ongoing renovation and conversion plan initiated by its new(ish) Chinese owners.  Foreign buyers are generally a good thing for New York, expected when projects seem to never be completed.\" class=\"wp-image-25531599\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/waldorf-astoria-01.jpg?quality=75&#038;strip=all 2000w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/waldorf-astoria-01.jpg?resize=300, 199&#038;quality=75&#038;strip=all 300w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/waldorf-astoria-01.jpg?resize=768, 510&#038;quality=75&#038;strip=all 768w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/waldorf-astoria-01.jpg?resize=1024, 680&#038;quality=75&#038;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/waldorf-astoria-01.jpg?resize=1536, 1020&#038;quality=75&#038;strip=all 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/waldorf-astoria-01.jpg?resize=1064, 706&#038;quality=75&#038;strip=all 1064w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/waldorf-astoria-01.jpg?resize=377, 250&#038;quality=75&#038;strip=all 377w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/waldorf-astoria-01.jpg?resize=953, 633&#038;quality=75&#038;strip=all 953w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/waldorf-astoria-01.jpg?resize=878, 583&#038;quality=75&#038;strip=all 878w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/waldorf-astoria-01.jpg?resize=744, 494&#038;quality=75&#038;strip=all 744w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/waldorf-astoria-01.jpg?resize=136, 90&#038;quality=75&#038;strip=all 136w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/waldorf-astoria-01.jpg?resize=576, 382&#038;quality=75&#038;strip=all 576w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/waldorf-astoria-01.jpg?resize=476, 316&#038;quality=75&#038;strip=all 476w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/waldorf-astoria-01.jpg?resize=457, 303&#038;quality=75&#038;strip=all 457w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/waldorf-astoria-01.jpg?resize=440, 292&#038;quality=75&#038;strip=all 440w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/waldorf-astoria-01.jpg?resize=424, 282&#038;quality=75&#038;strip=all 424w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/waldorf-astoria-01.jpg?resize=389, 258&#038;quality=75&#038;strip=all 389w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/waldorf-astoria-01.jpg?resize=360, 240&#038;quality=75&#038;strip=all 360w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/waldorf-astoria-01.jpg?resize=340, 227&#038;quality=75&#038;strip=all 340w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/waldorf-astoria-01.jpg?resize=320, 213&#038;quality=75&#038;strip=all 320w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/waldorf-astoria-01.jpg?resize=314, 209&#038;quality=75&#038;strip=all 314w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/waldorf-astoria-01.jpg?resize=306, 204&#038;quality=75&#038;strip=all 306w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/waldorf-astoria-01.jpg?resize=280, 187&#038;quality=75&#038;strip=all 280w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/waldorf-astoria-01.jpg?resize=260, 174&#038;quality=75&#038;strip=all 260w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/waldorf-astoria-01.jpg?resize=246, 164&#038;quality=75&#038;strip=all 246w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/waldorf-astoria-01.jpg?resize=234, 156&#038;quality=75&#038;strip=all 234w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/waldorf-astoria-01.jpg?resize=195, 130&#038;quality=75&#038;strip=all 195w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/waldorf-astoria-01.jpg?resize=180, 120&#038;quality=75&#038;strip=all 180w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/waldorf-astoria-01.jpg?resize=171, 114&#038;quality=75&#038;strip=all 171w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/waldorf-astoria-01.jpg?resize=160, 107&#038;quality=75&#038;strip=all 160w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/waldorf-astoria-01.jpg?resize=144, 96&#038;quality=75&#038;strip=all 144w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/waldorf-astoria-01.jpg?resize=140, 93&#038;quality=75&#038;strip=all 140w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/waldorf-astoria-01.jpg?resize=107, 71&#038;quality=75&#038;strip=all 107w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/waldorf-astoria-01.jpg?resize=93, 62&#038;quality=75&#038;strip=all 93w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/waldorf-astoria-01.jpg?resize=84, 56&#038;quality=75&#038;strip=all 84w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/waldorf-astoria-01.jpg?resize=200, 133&#038;quality=75&#038;strip=all 200w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/waldorf-astoria-01.jpg?resize=231, 153&#038;quality=75&#038;strip=all 231w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/waldorf-astoria-01.jpg?resize=322, 214&#038;quality=75&#038;strip=all 322w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/waldorf-astoria-01.jpg?resize=87, 58&#038;quality=75&#038;strip=all 87w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/waldorf-astoria-01.jpg?resize=150, 100&#038;quality=75&#038;strip=all 150w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/waldorf-astoria-01.jpg?resize=50, 33&#038;quality=75&#038;strip=all 50w\" \/><\/a><figcaption>The Waldorf Astoria is currently undergoing a renovation and conversion project initiated by its Chinese new owners.  New Yorkers generally consider foreign buyers a positive thing, especially when projects are not completed. <\/figcaption><figcaption><span class=\"credit\">ZUMAPRESS.com<\/span><\/figcaption><\/figure>\n<p>Recovery and renewal was possible thanks to a collective, but conflicting, effort. There has been no such unbridled energy following the pandemic. If anything, New Yorkers are more at odds than ever before \u2014 over immigration, criminal justice, school curricula, ethnic and racial identity, and even bike lanes.<\/p>\n<p>Some of our\u00a0wealthiest citizens who donate to hospitals, arts institutions and other worthy causes\u00a0 are leaving for warmer, less-taxed climes. Citadel and Goldman Sachs are both testing the waters with satellites far away.<\/p>\n<p>The city\u2019s real estate industry, long a force for civic improvement and neighborhood regeneration despite widespread whining, lost much of its political clout. Dynastic real estate families, while still active, were eclipsed by publicly-traded giants more attuned to shareholders and global expansion\u00a0 than to local needs.<\/p>\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/central-park-west-01.jpg\"><button class=\"button button--modal-trigger\" aria-label=\"Open the image in a modal.\" data-modal-image=\"25531665\"><\/p>\n<p><\/button><br \/>\n<img loading=\"lazy\" decoding=\"async\" data-modal-image=\"25531665\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/central-park-west-01.jpg?w=1024\" alt=\"Millions, if not billions, of dollars in unused real estate is common in New York&#039;s poshest quarters, often the result of foreigners trying to hid ill-gotten gains from their governments.\" class=\"wp-image-25531665\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/central-park-west-01.jpg?quality=75&#038;strip=all 2000w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/central-park-west-01.jpg?resize=300, 200&#038;quality=75&#038;strip=all 300w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/central-park-west-01.jpg?resize=768, 512&#038;quality=75&#038;strip=all 768w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/central-park-west-01.jpg?resize=1024, 682&#038;quality=75&#038;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/central-park-west-01.jpg?resize=1536, 1024&#038;quality=75&#038;strip=all 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/central-park-west-01.jpg?resize=1064, 709&#038;quality=75&#038;strip=all 1064w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/central-park-west-01.jpg?resize=375, 250&#038;quality=75&#038;strip=all 375w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/central-park-west-01.jpg?resize=950, 633&#038;quality=75&#038;strip=all 950w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/central-park-west-01.jpg?resize=878, 585&#038;quality=75&#038;strip=all 878w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/central-park-west-01.jpg?resize=744, 496&#038;quality=75&#038;strip=all 744w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/central-park-west-01.jpg?resize=135, 90&#038;quality=75&#038;strip=all 135w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/central-park-west-01.jpg?resize=576, 384&#038;quality=75&#038;strip=all 576w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/central-park-west-01.jpg?resize=474, 316&#038;quality=75&#038;strip=all 474w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/central-park-west-01.jpg?resize=457, 305&#038;quality=75&#038;strip=all 457w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/central-park-west-01.jpg?resize=440, 293&#038;quality=75&#038;strip=all 440w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/central-park-west-01.jpg?resize=424, 282&#038;quality=75&#038;strip=all 424w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/central-park-west-01.jpg?resize=389, 260&#038;quality=75&#038;strip=all 389w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/central-park-west-01.jpg?resize=360, 240&#038;quality=75&#038;strip=all 360w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/central-park-west-01.jpg?resize=340, 227&#038;quality=75&#038;strip=all 340w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/central-park-west-01.jpg?resize=320, 213&#038;quality=75&#038;strip=all 320w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/central-park-west-01.jpg?resize=314, 209&#038;quality=75&#038;strip=all 314w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/central-park-west-01.jpg?resize=306, 204&#038;quality=75&#038;strip=all 306w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/central-park-west-01.jpg?resize=280, 187&#038;quality=75&#038;strip=all 280w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/central-park-west-01.jpg?resize=260, 174&#038;quality=75&#038;strip=all 260w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/central-park-west-01.jpg?resize=246, 164&#038;quality=75&#038;strip=all 246w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/central-park-west-01.jpg?resize=234, 156&#038;quality=75&#038;strip=all 234w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/central-park-west-01.jpg?resize=195, 130&#038;quality=75&#038;strip=all 195w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/central-park-west-01.jpg?resize=180, 120&#038;quality=75&#038;strip=all 180w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/central-park-west-01.jpg?resize=171, 114&#038;quality=75&#038;strip=all 171w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/central-park-west-01.jpg?resize=160, 107&#038;quality=75&#038;strip=all 160w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/central-park-west-01.jpg?resize=144, 96&#038;quality=75&#038;strip=all 144w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/central-park-west-01.jpg?resize=140, 93&#038;quality=75&#038;strip=all 140w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/central-park-west-01.jpg?resize=107, 71&#038;quality=75&#038;strip=all 107w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/central-park-west-01.jpg?resize=93, 62&#038;quality=75&#038;strip=all 93w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/central-park-west-01.jpg?resize=84, 56&#038;quality=75&#038;strip=all 84w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/central-park-west-01.jpg?resize=200, 133&#038;quality=75&#038;strip=all 200w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/central-park-west-01.jpg?resize=231, 154&#038;quality=75&#038;strip=all 231w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/central-park-west-01.jpg?resize=322, 215&#038;quality=75&#038;strip=all 322w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/central-park-west-01.jpg?resize=87, 58&#038;quality=75&#038;strip=all 87w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/central-park-west-01.jpg?resize=150, 100&#038;quality=75&#038;strip=all 150w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/central-park-west-01.jpg?resize=50, 33&#038;quality=75&#038;strip=all 50w\" \/><\/a><figcaption>Millions, if not billions, of dollars in unused real estate is common in New York\u2019s poshest quarters, often the result of foreigners trying to hid ill-gotten gains from their governments. <\/figcaption><figcaption><span class=\"credit\">AFP via Getty Images<\/span><\/figcaption><\/figure>\n<p>As a municipality, the City of New York,\u00a0 which was always a creature of the state, is now an abused captive of the state. Albany legislators even wrested\u00a0away the mayor\u2019s longtime prerogative of control of the streets with \u201cprogressive\u2019 laws to empower criminals and emasculate the police.<\/p>\n<p>Even me, a passionate New Yorker for my entire life, can be overcome by the fear that New York City may fall. \u201cinvestors.\u201d History has shown that outsiders are always the easiest targets during times of crisis.\u00a0<\/p>\n<p>I\u2019m appalled by obscure absentee ownership that lets landmark properties such as 23 Wall St., where JP Morgan was born \u2014 and is currently owned by a joint Hong Kong-Angolan entity \u2013 fall into disuse and neglect.<\/p>\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/fifth-ave-01.jpg\"><button class=\"button button--modal-trigger\" aria-label=\"Open the image in a modal.\" data-modal-image=\"25531699\"><\/p>\n<p><\/button><br \/>\n<img loading=\"lazy\" decoding=\"async\" data-modal-image=\"25531699\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/fifth-ave-01.jpg?w=1024\" alt=\"New York saw a net decease of $350 million in foreign investment of commercial real estate during the last quarter of 2022, a worrying sign for what is typically the city&#039;s busiest investment period.\" class=\"wp-image-25531699\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/fifth-ave-01.jpg?quality=75&#038;strip=all 2000w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/fifth-ave-01.jpg?resize=300, 200&#038;quality=75&#038;strip=all 300w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/fifth-ave-01.jpg?resize=768, 512&#038;quality=75&#038;strip=all 768w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/fifth-ave-01.jpg?resize=1024, 682&#038;quality=75&#038;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/fifth-ave-01.jpg?resize=1536, 1024&#038;quality=75&#038;strip=all 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/fifth-ave-01.jpg?resize=1064, 709&#038;quality=75&#038;strip=all 1064w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/fifth-ave-01.jpg?resize=375, 250&#038;quality=75&#038;strip=all 375w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/fifth-ave-01.jpg?resize=950, 633&#038;quality=75&#038;strip=all 950w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/fifth-ave-01.jpg?resize=878, 585&#038;quality=75&#038;strip=all 878w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/fifth-ave-01.jpg?resize=744, 496&#038;quality=75&#038;strip=all 744w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/fifth-ave-01.jpg?resize=135, 90&#038;quality=75&#038;strip=all 135w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/fifth-ave-01.jpg?resize=576, 384&#038;quality=75&#038;strip=all 576w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/fifth-ave-01.jpg?resize=474, 316&#038;quality=75&#038;strip=all 474w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/fifth-ave-01.jpg?resize=457, 305&#038;quality=75&#038;strip=all 457w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/fifth-ave-01.jpg?resize=440, 293&#038;quality=75&#038;strip=all 440w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/fifth-ave-01.jpg?resize=424, 282&#038;quality=75&#038;strip=all 424w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/fifth-ave-01.jpg?resize=389, 260&#038;quality=75&#038;strip=all 389w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/fifth-ave-01.jpg?resize=360, 240&#038;quality=75&#038;strip=all 360w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/fifth-ave-01.jpg?resize=340, 227&#038;quality=75&#038;strip=all 340w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/fifth-ave-01.jpg?resize=320, 213&#038;quality=75&#038;strip=all 320w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/fifth-ave-01.jpg?resize=314, 209&#038;quality=75&#038;strip=all 314w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/fifth-ave-01.jpg?resize=306, 204&#038;quality=75&#038;strip=all 306w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/fifth-ave-01.jpg?resize=280, 187&#038;quality=75&#038;strip=all 280w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/fifth-ave-01.jpg?resize=260, 174&#038;quality=75&#038;strip=all 260w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/fifth-ave-01.jpg?resize=246, 164&#038;quality=75&#038;strip=all 246w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/fifth-ave-01.jpg?resize=234, 156&#038;quality=75&#038;strip=all 234w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/fifth-ave-01.jpg?resize=195, 130&#038;quality=75&#038;strip=all 195w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/fifth-ave-01.jpg?resize=180, 120&#038;quality=75&#038;strip=all 180w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/fifth-ave-01.jpg?resize=171, 114&#038;quality=75&#038;strip=all 171w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/fifth-ave-01.jpg?resize=160, 107&#038;quality=75&#038;strip=all 160w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/fifth-ave-01.jpg?resize=144, 96&#038;quality=75&#038;strip=all 144w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/fifth-ave-01.jpg?resize=140, 93&#038;quality=75&#038;strip=all 140w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/fifth-ave-01.jpg?resize=107, 71&#038;quality=75&#038;strip=all 107w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/fifth-ave-01.jpg?resize=93, 62&#038;quality=75&#038;strip=all 93w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/fifth-ave-01.jpg?resize=84, 56&#038;quality=75&#038;strip=all 84w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/fifth-ave-01.jpg?resize=200, 133&#038;quality=75&#038;strip=all 200w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/fifth-ave-01.jpg?resize=231, 154&#038;quality=75&#038;strip=all 231w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/fifth-ave-01.jpg?resize=322, 215&#038;quality=75&#038;strip=all 322w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/fifth-ave-01.jpg?resize=87, 58&#038;quality=75&#038;strip=all 87w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/fifth-ave-01.jpg?resize=150, 100&#038;quality=75&#038;strip=all 150w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2023\/01\/fifth-ave-01.jpg?resize=50, 33&#038;quality=75&#038;strip=all 50w\" \/><\/a><figcaption>New York saw a net decease of $350 million in foreign investment of commercial real estate during the last quarter of 2022, a worrying sign for what is typically the city\u2019s busiest investment period. <\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<p>I resent when foreign oligarchs, rubber magnates and tech moguls buy into those posh half-empty towers \u2013 collecting them as toys, while legions of homeless New Yorkers suffer in the cold.<\/p>\n<p>I regret the incompetence and casual indifference of the Chinese insurance firms that have fled the \u201creimagined\u201d After six years of hard work, Waldorf+Astoria is a mess.<\/p>\n<p>Whenever I\u2019m tempted to howl over \u201calien\u201d encroachment, I\u2019m reminded, too, that without a near half-billion-dollar investment by Belgium-based DTH Capital and a loan from a Chinese bank, local developer Rose Associates couldn\u2019t have turned vacant office landmark 70 Pine Street into 600 rental apartments. The Barclays Center might not exist without Mikhail Prokhorov from Russia, a Russian billionaire who invested $200 millions in the Brooklyn Nets.<\/p>\n<p>We all need them. DeSantis, Justin Trudeau, and DeSantis are trading in economic xenophobia. Let foreign money bags purchase as many homes here as they wish. And let\u2019s get our own house in order before we shut its doors to world.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Canada recently banned non-Canadians investing in residential properties for two years. The move was made to cool an overheated market that saw Canada&#8217;s average home price rise. 2021: 20% increase \u00a0Meanwhile, Florida Gov. Ron DeSantis would like to prohibit companies from China from selling homes or farmland in Florida. \u201chostile\u201d nation. These measures are possible &hellip;<\/p>\n","protected":false},"author":1,"featured_media":1827967,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[10018,5179,10752,7332,5022],"class_list":["post-1827964","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report","tag-cuozzo","tag-global","tag-markets","tag-nyc","tag-steve"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1827964","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1827964"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1827964\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1827967"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1827964"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1827964"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1827964"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}