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Sarah asked in Social ScienceEconomics · 5 years ago

What are the reasons for NEW YORK CITIES rapid economic growth?

2 Answers

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  • Mikel
    Lv 6
    5 years ago

    From a real estate perspective the agents are bringing in foreign buyers with untold wealth. The Russian Oligarchs and newly wealthy Chinese investors are the primary target audience, but basically any overseas investor they can attract is fair game.

    So what happens is, the demand for high end real estate escalates and therefore the prices skyrocket.

    Once the wealthiest people move into a city then the high end stores, car dealerships and restaurants must cater to their needs. It has a flow on effect.

  • Anonymous
    5 years ago

    free but not fair.

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