yeppers. I expect the housing market will take a dive as well.
Big banks are are the movers and shakers of wokeism. Big banks going under would hurt but might be a blessing in the long term
But, the heat in Texas is oppressive and I heard there was flooding in Vermont. And something about a submarine.
Why would anyone talk about it? Lots of extra office space is not a “looming economic crisis.” Rents will come down, and a few high-rises will revert to their respective lenders who can then dump them for a good price or become landlords. Not a “crisis” unless everything is always a crisis.
“ Poleg gives a detailed breakdown of how everything is interconnected and what it could take to reverse course. It will take years of government spending and a bailout to ensure everything doesn’t go to hell.”
Well, yeah, ‘cause that’s always worked out so well.
Imagining the effect on retirement funds in Commercial real estate
The slim margins companies operate on are vanishing with higher interest rates.
Westfield collapsed due to impossible crime rates
Don’t bother with air-conditioned trucks for the Teamsters. President Butt-Head’s EPA is further restricting HFCs.
The money is moving.
Large tax cities are being hit.
I still do many service calls way up in Charlotte.
They are becoming a benefactor, esp. from NY.
Bttt.
5.56mm
If you held UPS stock and you’re already underwater, would you go ahead and sell for the loss before they go on strike?
Maybe the rat plan to corral us all into cities isn’t going to work after all.
It will take years of government spending and a bailout to ensure everything doesn't go to hell.All it took was a couple years of insane Government lockdowns to demolish the economy combined with a couple decades of insane Government zero interest rates to create the recipe for Government bailouts combined with trillions more Government spending to cure what the Government caused in the first place.
There seems to be a constant thread throughout the successive messes.
This author proposes that the government do fiscal things that are simply not sustainable, even though the same government is obsessed with "sustainability."
Sorry matt; They are neither willfully ignorant or blissfully unaware; They are counting on it.
Is everything a crisis or pending crisis?
How much of this is simply headline grabbing?
Sure, people are not using offices as much. They will be reconfigured for immigrants and other miscreants. Fort Apache the Bronx coming to a downtown near you. Wait for it.
Ever been downtown in the business district on a weekend back in the day? Eerie is all that it is. Outside the theater or museum district there was no vibrant night life. The no-go zone was something like 30 to 40 square blocks. A few workmen doing things that can only be done when traffic is absent, security guards, indigents and panhandlers who get a little more bold when nobody is around. Never, never, never go there at night when the zombies invade from the adjacent ghetto. That was Houston on the weekend when I worked overtime or had weekend duty. Can’t imagine now.
once online innovation became established, you could be productive anywhere, and people didn’t need to move to cities as long as there was internet access
The exact reason that liberals are destroying small town America
TPTB will run the property values in downtown as low as they can, then buy them up, followed by a crackdown on crime which will cause them the values to go up.
AKA “Let Blackrock own everything on the cheap”
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Ok, I’ll be the optimist here. “Return to office” will grow, because the companies who recognized “the benefits of not having an office, leading to cost-saving decisions to cut overhead costs” are making decisions that yield short-term gain, with the illusion of long-term benefits due to the elimination of the expense of offices.
In fact, work from home productivity will continue to decline, albeit slowly, and companies with office presences will MAKE MORE MONEY. As a result, those companies will attract better people because they can pay them more, and they’ll have better access to capital because they are financially more attractive.