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Why big cities like New York are at risk of turning into Detroit

Por: New York Post Opinion May 12, 2023

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Might big cities like New York soon undergo Detroitification? Credit standards are tightening. That means it is becoming harder to get a loan. Whether you to buy a home or take out a loan for your small business, banks are becoming less and less willing to hand over the cash. At the same time, borrowers are becoming less willing to take on any debt. This is what the Federal Reserve’s latest senior-loan-officer-opinion survey shows. You don’t... + full article



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