Posted on 12/05/2022 9:11:44 PM PST by SeekAndFind
“City officials are now looking for ways to bring customers back...”
Start by making the streets safe.
That’s the company I work for. Company is based in Los Angeles. No office, just a warehouse I guess….never been there. I’m in Vegas, my closest co worker is in Vermont and our department head lives somewhere by San Francisco. The main gal that helps run the company lives in Bakersfield. No limits to where you can live.
Low level employees are replaceable. Senior employees/contractors are not.
Most employees cannot handle remote work. Unless you are a senior employee.
It will be interesting to have a study to see how productive remote workers are.
Most of the loans on office and retail buildings are non-recourse, meaning that if the borrower doesn’t pay it simply turns the keys over to the lender. Most of the lenders are pension funds and insurance companies, but some are banks. I very much believe a commercial real estate crash, especially in big cities, is coming and it’s going to have a devastating effect on commercial real estate lenders, their investors, and local governments that depend on high real estate valuations for tax revenue.
Cities are not friendly places for families with children. The exodus from cities has been ongoing for decades.
Filling cities with head-bangers and drug dealers has turned them into sewers.
Exurbia and rural living is the future.
Major implications for our cities inflation
Inflation is the price we pay for all the government programs we thought were free.
Ronald Reagan
Cities will appoint commissions and hold numerous meetings with marginalized groups, and resoundingly conclude that the no-bail, no-fault crime policy is the best way forward! F business! We don’t need no stinkin tax base! It was invented by (fill in the blank) to oppress the BIPOCLGBTQ communities!
“Even 4 years ago, my image of Minneapolis was favorable and safe.”
When I visited Minneapolis several years ago (pre riots) there were several things about it that shocked me.
It has one of the coldest climates of any major city and the subway downtown has stops above ground in un-sheltered areas.
What was that about?
Meanwhile most of the downtown was connected by above ground climate controlled covered walkways which did address the issue.
But—they had terrible signage and apparently were a makeshift effort by local businesses.
It was obvious to this outsider that the civic leaders are seriously stupid—so it did not surprise me when the riots led to an insanely idiotic non-response by local leaders.
The city had amazing potential—destroyed by some of the dumbest humans on the planet.
Years ago, I read somewhere that an employee spends 70% of their paycheck within 10 miles of where they work.
Cars-—Cleaners—Banking—Meals—entertainment-—LOTS of things.
YOU CAN NEVER find enough good employees when they have to work/live in a crime ridden area.
And who can blame them?
IF his deductions for property taxes are overstated-—that is the fault of the TAXING Authorities-—NOT Trump.
IF I PAY MY PROPERTY taxes & that is a legally deductible expense-—I HAVE NOT BROKEN ANY LAWS.
The pandemic forced companies to look at remote workers. The readily available software on laptops and tablets made remote work technically feasible from anywhere and businesses were quick to grasp that they could abandon expensive leased spaces in downtown in favor of smaller and cheaper space elsewhere. Downtown areas are also becoming less desirable with rising crime that deters both workers and their clients from wanting to go downtown. The long accepted idea of workers commuting from suburbs to work downtown is rapidly becoming obsolete and those shiny glass boxes downtown may soon be just empty space.
You are of course correct. We both understand that. But there are millions of voters, mostly D voters, that will only hear the accusation and (willfully) ignore the logical explanation.
You sir are correct, and you win a fine Cuban cigar.
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