What a very odd article to come from a think tank, it's titled and reads like something from the NY Post. At any rate, reading the article shows that a specific buildings value fell 75%. Anyone have better data? And how it compares to other cities?
And the homeless population keeps going up.
Example a $10m building, you put $1m down on. You go to refinance the loan and they are only willing to float you $7m now because you arent able to charge as much rent to tenants. Thus requiring you to come up with $2m or lose your $1m investment and the building.
Do you actually reason about the world this way? Kinda odd.
But what about things that are factual? If they don't fit your standards do you discard them?
Example: It was a fact that Germany was left in an impossible political and economic situation after WWI, and it was a fact that the leftist government at the time accepted the agreements that led to that impossible situation. But simply saying that leaves out context about who was truly to blame, something that a young war veteran took advantage of in short order. So to avoid being tricked by people telling easy truths, it’s important to be critical of all sources of truths, especially ones with an ideological bent. And during that process it is acceptable to discard partial truths in favor of a search for the complete story.