The 'Urban Doom Loop' for Commercial Real Estate w/ Stijn Van Nieuwerburgh
Real Vision: Finance & Investing
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The Urban Doom Loop and Tax Revenue Inequality
Tax revenues are very concentrated. New York City gets about half of its income tax revenue from the top 0.4% of taxpayers. That's literally a few thousand rich individuals. And if a substantial fraction of those leave, that creates a real hole in the budget of even a large city like New York City. We're living in a new world where because of remote work, we are able to separate our location of residents from our location of work," he says.
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