Three things I get out of this trend: (1) A lot of the talk is over commercial real estate (office buildings). I would imagine in 2024...several more hotels will shutdown, with tourism lessening every quarter (even international tourism will lessen). (2) Going into early 2025, after they let go of 10-percent of city staff in 2024...there’s probably a rough 20-percent additional cut to come. (3) Finally, you would have mandate people go to a enclosed/fenced facility and ration out real drugs (freely) to get them off the streets of the city (Democratic logic) to bring real change or fix this mess.
Civilized chaos, such as at our southern borders right now.
What shocks me is that 64% of the office space remains filled!
Unless much of this is contracts leases that have not yet run out.