Queens real estate agents are bemoaning Amazon’s decision to pull out of Long Island City: “We just literally threw out the baby with the bathwater,” one said, confusingly. This all reaffirms our instinct that most real estate agents are kind of dumb, have an easy job, and shouldn’t exist.
Financial giant Blackstone, led by Trump-whisperer Steve Schwarzman, is raising a $20 billion real estate fund that will give it a buying power “more than the total value of all the commercial property purchased New York, Chicago and San Francisco in the first 11 months of 2018.” Oh... good.
“Oakland is effectively becoming the Brooklyn Heights of San Francisco,” Anthony Scaramucci told potential investors in his new real estate project. “We think we’re going to be building a swank, boutique hotel there that’s going to create excessive economic rents.” Cool.