Posted on 05/13/2023 8:20:53 AM PDT by Kaiser8408a
Living in Biden Country! Where big American cities are becoming like Lori Lightfoot’s Chicago.
And the sad headline of the day (other than pure chaos on the Mexican border) is that NO RENT IS BEING PAID ON 20% OF ALL US OFFICE SPACE! And small banks hold 70% of commercial real estate loans!
As The Fed momentarily pauses rate hikes, office vacancy rate just hit an all-time high. Another Biden first!! And the NCREIF office property index falling as The Fed tightens.
(Excerpt) Read more at confoundedinterest.net ...
“The economy is wasting away in Bidenville.”
However, access to abortions is what Democrat voters, (and some independents), really care about.
This kind of delusion doesn’t win any votes.
This is a result of work from home. It’s not a result of anything from Biden. Tradespeople can’t work from home because they are out doing repairs. But they also were never sitting in an office.
Largely, this is a result of the internet, which predates Biden.
Yes, and all those businesses that moved out of the Magnificent Mile in Chicago, and out of NYC, and out of San Francisco moved out because of the internet.. Nothing to do with democrat policies and the decline of urban society.
Do you have executive apartments in this office building?
Why, yes, they are simply amazing, would you like me to show you the one I still have vacant?
Yes.
I like both the apartment and the office space....
“Nothing to do with democrat policies and the decline of urban society.”
Have I moved up in the housing voucher queue?
We have you down as living in a tent in a location that the local government can’t displace you from as per the Boise court order. You are considered to have permanent housing and you have been removed from the queue.
The economy was sailing along right nicely with President Trump in office, so the Deep State & the Uniparty fixed it.
“This is a result of work from home” I agree with you. On the other hand, work from home wasn’t really happening on any scale until the government forced shutdowns. People and companies realized there was no need to have expensive office space in cities. Their workers liked sitting on the back porch with a laptop and they weren’t going back to the two-hour commute through dangerous neighborhoods. The shutdown accelerated the trend away from needing office space. Without the shutdown the need for office space might have declined more gradually and had less of an impact on retail space. There would have been more time for the market to adjust.
Predictable effect from ruining the country.
I asked my broker what if anything I should be buying into this market,
He said “Go long on canned food and ammunition.”
What’s the difference between working from home in Atlanta GA and Merida, Venezuela?
Local radio station had a spot about hiring in Venezuela for about $5.19/hr.
And you’re further right insofar as the state of emergency and lockdowns were of course originally implemented under Trump, not Biden, with the Operation Warpspeed jabs making it all worse.
(From the news source): “ And the sad headline of the day (other than pure chaos on the Mexican border) is that NO RENT IS BEING PAID ON 20% OF ALL US OFFICE SPACE!
And small banks hold 70% of commercial real estate loans “
"As The Fed momentarily pauses rate hikes, office vacancy rate just hit an all-time high. Another Biden first!!
And the NCREIF office property index falling as The Fed tightens.
news source:
https://confoundedinterest.net/2023/05/13/biden-country-no-rent-being-paid-on-20-of-us-office-space-as-office-property-values-fall-office-vacancy-hit-an-all-time-high-as-fed-shrinks-balance-sheet/
No, but inflationary pressures and unbounded money supply will run up costs so even more high rise clients will abandon space. More abandoned space equals mortgage problems, defaults and messed up bank portfolios, reserve issues and collapses. Cores of cities will in fact be cored out.
A HUGE adjustment is coming due to bidenville and it AINT going to be pretty.
The obamanites have one goal, the destruction of America.
The people are waking up to it.
Especially with the weaponization of government agencies against President Trump. That’s turd world operations here in the US.
That’s when the Feds took over the operation?
it was democrats response to covid that proved working from home was a viable option.
Good post.
Before I retired—pre Covid—my commuter bus was filled with people working on their computers on the bus.
They all agreed that commuting to the office was a total waste of their time and that all of their work—mostly insurance industry number crunching—could be done at home.
It was just a matter of time before their big bosses figured it out as well and could save money on office space.
The crime in Shitcago is the reason many like me refuse to go in to the office. Pre CHINA VIRUS I used to like going in. My office overlooked Buckingham Fountain and Millenium Park.
After getting accosted last week by the latest group of illegals to arrive because of Shitcago’s stupid sanctuary city status I refuse to step foot in that shithole. I’m far from the only one at the bank I work for. Less than 50% bother going in at all.
That’s when it was handed over to the US military, which actually did all the contracting with Big Pharma, etc.—complete with shell companies and liability waivers.
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