Hmm. This is the exact opposite of what the Deep State elites want.
"Step right up - get randomly beaten and win a prize"
This is why you see the big banks as some of the biggest cheerleaders for forcing employees back to the office. Who do you think holds all these commercial real estate loans and what happens when the property used as collateral for these loans is suddenly worth much, much less than these banks valued it at when they made the loans?
No mention of the possibility of “peaceful” demonstrations that add so much [sarc] to urban centers...Apparently not a concern worth mentioning...
Other cities like San Francisco is so woke that they refuse to arrest criminals. Separate issue. I bet Atlanta and Charlotte are both back to normal but will have to check the vacancy tree rate of their office buildings. Texas and Florida are thriving as we know.
“Much of their revenue comes from these areas so if they aren’t being utilized the city’s tax base is shrinking and that means fewer resources to deal with problems (homelessness, crime) that are also plaguing cities.”
They have it backwards.
This sounds an awful lot like what they used to call “white flight”.
“More on the ‘urban doom loop’”
Doom loop?? So now folks should feel guilty about working from home and otherwise economizing? Hell with that. I thought Hot Air was better than that, but it’s become just another yellow journalism blog.
They completely miss the fact of the deep state, soft on crime, coddle the criminals policies and that nobody wants to be the next target.
Buyers with deep pockets who can swoop up NYC’s commercial properties and convert them into luxury residential housing will do very well.
There is no mention in the article on the savings employees get in time, fuel, and child care working from home.
St. George of Fentanyl a.k.a. “Mr. Hooper”, didn’t help matters.
‘Normal isn’t coming back. But Jesus is.’
The Office isn’t dead but it is dying. You simply do not need to go into the office for many white collar jobs. Companies are trying to lean on employees to at least accept a hybrid 2 days per week in the office arrangement. They know 5 days a week like before is out of the question. Experienced employees and those who have in-demand skills can and are refusing to accept anything less than 100% remote. Companies have had no choice but to accept.
Big, expensive (and invariably Leftist) cities are in big trouble. Why waste hours of your day not to mention the expense of commuting into a dirty, dangerous city when you don’t have to? Once you realize that is not necessary, the next step is why even live there at all? Many have already connected the dots and left. More will keep leaving. Their standards of living will rise significantly. Those cities will see their wealthy and power crash as this goes on.
Over time some of the more Left leaning voters who move out of the big cities may....just MAY...learn to do more for themselves and be more independent and less reliant on nanny government for everything.
Definitely agree here. Good reading. Minneapolis used to be a shining-civilized city. The decline started when Somailains started moving there.... Must be 150,000 of them by now. Few are gainfully employed and if they are it is by government or a government funded NGO.
Wracked by Floyd riots for days. Even 4 years ago, my image of Minneapolis was favorable and safe.
This analysis seems plausible....time will tell.
The remote workers are far more skilled and experienced than the local workers. The biggest reason the local employees have fewer skills is that most of them are hired above their pay grade because the companies couldn't hire talent at those salaries and instead had to hire inexperienced staff.
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