Real Estate in New York State and the Impact of Companies Migrating Away!

By | December 7, 2020

The Three Wise Monkeys and New York Politicians: See no evil, hear no evil, speak no evil!

Summary: The potential migration away from New York by Goldman Sachs Asset Management is yet another example of tax-unfriendly states losing businesses to tax-friendly states like Florida!

(Note: For those wondering, the following migration situation out of NYS has much to do with the real estate market)

Yet another shot has been fired across-the-bow of New York politicians who are unfortunately either too blind, too incapable of leadership, too in love with spending that requires a heavy tax burden or, maybe, who are simply doing their best three wise monkeys imitation, and are unable to acknowledge the crisis sitting in front of their collective faces!

Goldman Sachs Asset Management , on top of all of the other companies considering an exodus to more business-friendly pastures, is reportedly taking a look at Florida as a future destination for its asset management business.

After all if this woman actually were an employee of that division, coronavirus and remote working has shown business leaders that a centralized NYC location may not be necessary.

Hopefully New York legislative leaders ‘Get Smart’ and make New York more friendly for business but, if past is prologue, this hope is a fools errand!

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