Author Topic: Investor: Safety Driving Hundreds of Thousands of People from U.S. Cities to Suburbs  (Read 426 times)

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Offline mystery-ak

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Penny Starr 26 Aug 2020

Barry Sternlicht, a global investor, said on Tuesday that he believes there will be a mass exodus from U.S. cities to suburban neighborhoods and that fleeing from violent protests is a more motivating factor than the fear of the coronavirus.

“There’s hundreds of thousands of people looking for suburban homes, and I would say it’s not as driven by the Covid situation as it is safety and law and order, and that is now pervasive across the big cities of the United States, sadly,” Sternlicht told CBNC’s Squawk Box.

Sternlicht, who is the CEO of Starwood Capitol, said tax policy is another factor in the shift from urban to suburban neighborhoods, including New York City.

“If you tax the wealthy even more in New York City … and they leave, then the social net has to be absorbed by the remaining residents and you can force them to leave,” Sternlicht said.

Sternlicht also criticized former Vice President and presidential candidate Joe Biden’s tax increase plan.

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Online IsailedawayfromFR

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The trickle is becoming a creek is becoming a river is becoming a torrent.

And it will not look pretty, as those leaving are for the most part the better citizens of the city, those with wealth and stability.  What will be left is the grifters and those picking up crumbs.
“no punishment, in my opinion, is too great, for the man who can build his greatness upon his country's ruin” ~  George Washington

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