New York City's Mayor Says It's "Distressing" That Russian Oligarchs Are Buying Up All The Apartments

New York City Mayor Bill de Blasio said it was “distressing” that the extremely rich around the world, especially from Russia, are buying up the city's real estate with “ill-gotten gains.”

De Blasio's comments, on BuzzFeed News's morning show AM to DM, came as the city faces a crisis of affordable housing.

The mayor campaigned for his first term on closing the income gap between rich and poor in New York City.

This is a developing story. Check back for updates and follow BuzzFeed News on Twitter.

Source: https://www.buzzfeed.com/usnews.xml

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