Posted on 12/04/2024 12:36:08 AM PST by blueplum
What is the shelf life of a freshly baked donut? Two days, tops. But when it comes to an entirely different kind of donut—one that Stanford economist Nicholas Bloom described early in the pandemic when he measured the exodus of people from city centers to city suburbs—there appears to be no expiration date....
Since the pandemic, the country's 12 largest cities have cumulatively lost 8% of their downtown dwellers. Three-fifths of the households that left moved to nearby suburbs...
What does this mean, then, for the country's biggest cities? Painful choices that will likely involve cutting spending, raising taxes and restructuring their downtowns, Bloom says....
(Excerpt) Read more at phys.org ...
They prattle about doughnuts but do they even know what they cost?
I have better headline and it doesn’t involves doughnuts AND it sums up the problem. “Truth shines in Big City, Rats Flee”.
Detroit was way ahead of the curve on this one- they started in the late 1950’s. Now those suburbs are losing people to even further out areas like Brighton as the businesses themselves move to the suburbs.
CC
Does anyone want an honest conversation on the racial component to this?
Yeah, I didn’t think so.
Remember—it is culture not race.
That is why Africa is the wealthiest continent in the world.
Culture.
:-)
The only way for cities to survive is to so drastically cut welfare, that the underclass move out, or at least cease having dysfunctional children for the next generation taxpayers to support.
Clean up the crime and menacing presence from the homeless/addicted and illegals and that would turn around.
Boston broke up its big Mass & Cass homeless encampment, so the problem has been spread throughout the city, including on its iconic Boston Common. In response, the city bureaucrats are claiming this was all part of a clever strategy.
“ That is why Africa is the wealthiest continent in the world.”
South Africa and Rhodesia used to be very functional…
Note to urbanites: Want great cities back?
SECURE YOUR DAMNED ELECTIONS.
And in NYC’s case get rid of RCV along with those bloody RCV-enabled electronic voting machines.
U.S. cities have needed to be dismantled for almost a century.
Superficially, the issue is race, but the true components are crime and disorder.
Article left out the effect of crime and DA who allow violent criminals to roam the streets as a factor. Of course these criminals where possible donut out and sanctuary in as the population exits. Selling my house very soon but should have done it earlier.
Any racial component is a symptom, not a cause. These cities were already dead before the politicians moved newcomers in.
I’m not talking about newcomers, but illegals are a problem, too.
Most cities already had declining population by the 1930s. WW2 staved off some of the decline but by the 1950s, entire swaths of cities were abandoned.
The current illegal alien invasion is a whole other level of failure.
Anonymous sources = made up
Think of all the “help” Blacks receive from Democrats. Welfare programs that incentivize fathers to leave home. Inner-city schools that indoctrinate more than they teach. Tolerance of crime means lots of crime victims. Rioting and looting are tolerated, which means that work and shopping opportunities disappear. With friends like this, who needs enemies? It almost sounds like systemic racism:
Family busting welfare
Poor schools
Lax or non-existent law enforcement
Systemic racism is policy with Democrats: Indian removal (Trail of Tears), slavery, segregation, internment camps, affirmative action. At one time or another, every race has suffered at the hand of the Democrats.
Commercial real estate vacancy rates, as they persist, weigh on the owners who must pay the mortgage debt they have. Even if they can limp along with lower revenues, sooner or later the markets for commercial space will have some bargains, either with lower lease rates or owners trying to sell and willing to take losses at sale instead of losses for years.
However, some markets I just do not understand.
Although only directly during the pandemic was the reduced human traffic in Manhattan noticeable, yet, for Manhattan commercial real estate:
Q3 2024: The vacancy rate was 18.7%, the first time it’s been below 19% since Q1 2021.
Q2 2024: The vacancy rate was 17.9%, a slight decrease from the previous quarter.
April 2024: The vacancy rate was at a record high, more than double the rate at the start of the pandemic.
March 2020: The vacancy rate was 10%
And:
Asking rents have dropped by 8% since the pandemic, which is a relatively mild drop compared to other recessions.
Available supply: The total available supply has grown by 79.5% since March 2020.
Sublet availability: Sublet inventory is still 71.7% higher than in March 2020.
But in spite of all that, construction and major renvotions of large commercial buildings in Manhattan never ceased and, in my view, is as busy today as it has ever been. In spite of the commercial space downturn some people with money to burn continue to pour money into Manhattan, like crazy.
The article goes on and on and on. But there is no mention of high crime and Democrat Party rule. The pandemic just gave a lot of people the chance to move to safer areas, areas coincidentally not ruled by corrupt commies.
“There’s a black civil war going on, and there’s two sides.....” - Chris Rock
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