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15: The largest real estate developer in the world, Steve Ross

Onward, a Fundrise Production

CHAPTER

How Does Scale Change the Way You Make Decisions?

There's no way you can build in New York today. You get large projects because there's to be union and the cost is so great. And today, who's going to pay those rents that it takes? Now with increased interest rates, great wind interest rates were really low. But now with interest rates to where they are, the fact is the real estate tax loss and the incentives don't exist. The old American way of doing things in one age is succeed ran inside me. It still does, but not everybody feels that way today.

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