A blast of cold is going to return to the Great Lakes and much of the Northeast, and some areas are going to challenge or break record lows. @StormOfCorn has the details. https://t.co/lUgMKwiNpz
So basically what will happen is this:
>Owners of $5 million+ properties who don't live in NYC full time will immediately look to sell before the tax kicks in... flooding the top end of the market with inventory all at once.
>But buyers will factor the new annual fee into what they're willing to pay, meaning sellers can't get what the property was worth before the tax existed, so values at the high end drop.
>Some owners won't sell and won't pay...they'll just stop using the property, let it sit, and fight the bill in court for years, which is exactly what wealthy people with expensive lawyers do.
>Others will convert their ownership into an LLC or trust structure designed to obscure primary residency status, and the city won't have the staff or resources to unwind thousands of complex real estate holding structures.
>Foreign owners, yhe ones the politicians are actually talking about, will simply ignore the bill, because the city has no mechanism to force collection from someone with no US income, no US bank accounts, and ownership held offshore.
>The city will collect far less than $500 million because the pool of people who just comply and pay is much smaller than projected, leaving a budget gap that still needs to be filled.
>Meanwhile the high end of the real estate market has been spooked, construction financing for luxury developments dries up, and the trickle-down effect hits construction jobs, broker commissions, and the city's existing property tax base.
>Albany will eventually water down enforcement to keep the real estate lobby quiet, and what's left is a tax that raises a fraction of what was promised and costs more to administer than anyone budgeted for.
Bookmark this for 2 years from now.
Every other week we get a crazy Javy highlight.
Sometimes it’s a slide, steal, catch, tag and sometimes it’s him swinging at a pitch 3ft outside the box
That’s the Javy experience.
The Death Valley superbloom is underway! 🌸🌼
Colorful flowers are blanketing parts of the hottest place in North America. Park officials say it's the best superbloom since 2016.
Metallica released Master Of Puppets, March 3, 1986. Did you or do you have this album? Favorite track?
Battery
Master of Puppets
The Thing That Should Not Be
Welcome Home (Sanitarium)
Disposable Heroes
Leper Messiah
Orion (Instrumental)
Damage, Inc.
The I-80 in California has been turned into a 6 mile long snow covered parking lot near Emigrant Gap.
Gavin Newsom is having pallets of his new book parachuted in to help those stranded pass the time. Probably.
Alot of people trash talking Northwest Indiana today.
I’m from Hammond. And there’s a lot you don’t know about The Region.
Working class union families. Chicago time, media, sports, and food. But not “Chicagoland”. It’s culturally eschewed from the rest of Indiana. Steel mills amidst cat tails and hundred foot sand dunes. Shift work traffic. The “tamale guy” that sells them out a cooler at the bar. Gyros and lemon rice soup. Made the steel that won WWII. Commuter rail.
There is something poetic, even romantic about the place. It’s extremely polluted. But there’s more under the covers. Stop by and have a pierogi sometime.
But don’t be a dick to get likes.
Below-average snowfall has made for a tough winter across the West, including Park City, Utah.
EJ Poplawski shared this video from a south-facing run and says crews have done a great job with snowmaking, keeping skiing in decent shape despite limited natural snow. 🎿
Thomas Massie is going NUCLEAR on Trump’s regime change war in Venezuela.
“How did it work out in Cuba, Libya, Iraq, or Syria?”
“Do we want another Afghanistan in the Western Hemisphere?”
“This is about oil and regime change.”
“Previous presidents told us to go to war over WMDs, weapons of mass destruction, that did not exist.”
“Now it’s the same playbook, except we’re told that drugs are the WMDs.”
“James Madison warned us that in no part of the Constitution is more wisdom to be found than in the clause which confides the question of war and peace to the legislature—not the executive.”
“The framers understood a simple truth: to the extent that war-making power devolves to one person, liberty dissolves.”
“By escalating toward war, we would predictably create countless refugees.”
“Are we prepared to receive swarms of the 25 million Venezuelans who will likely become refugees?”
@RepThomasMassie@MassieforKY
Intense lake effect snow is piling up across the Oswego, New York area, burying cars, stranding vehicles, and leaving even a plow truck stuck as rescues efforts continue.
@AccuRayno 🐻⬇️ Amazing what can happen when a franchise gets the right coaches. You have heard me complain for the last 5 years and I was ready to give up last season.