So what happened to Pennsylvania 6-5000?
Numbers I’ve got by the dozen
Everyone’s uncle and cousin
But I can’t live without buzzin’
Pennsylvania Six, Five Thousand
I’ve got a sweety I know there
Someone who sets me aglow there
Gives me the sweetest “hello there”
Pennsylvania Six, Five Thousand
We don’t say “how are you”
And very seldom ask “what’s new?”
Instead we start and end each call with
“Baby confidentially I love you”
Sad. Glad for my few nights there. Room was tiny. History was huge. Set foot on the stage in memory of the Miller song.
Covid showed employers that working from home saves a ton of money.
1. Rent. Super expensive in NYC and other places.
2. Commute time. Lost time.
3. Productivity. You know who does what when they work from home.
4. Avoid litigation. No sex harassment or racism claims if on zoom and at home (u less it’s the New York Times).
So there will be a pivot from commercial rental to residential. Many of these empty commercial buildings will be converted into condominiums. This will flood the market and drive down residential values.
Likely looking at a 2009 style banking crisis soon.