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> Our largest cities will implode, fiscally, as a result. Corrective action could be taken, but would require the Oligarchs give consent to actions against thei
by Kon-Peki 5y ago
> Our largest cities will implode, fiscally, as a result. Corrective action could be taken, but would require the Oligarchs give consent to actions against their self interests. Thus, it is essentially inevitable.
Are you talking about the USA?
San Francisco is an outlier - there was a Bloomberg piece about it just a few days ago - their "recovery" from pre-pandemic office utilization is worst among large cities.
So remove San Francisco from the list and look at the rest of the large cities. Residential population in the "downtown" have been growing for decades, "class c" office space has been torn down or converted and companies move to new "class a" office towers, etc. Office vacancies are going to accelerate this trend and open up opportunities for more affordable urban living - especially in converted buildings.
Beautiful lobbies, 12 foot ceilings, massive windows, fiber internet already present, etc. The large cities that survive the next 3-4 years are going to be blossoming.
- mikewarot 5y agoYou make an interesting case. Yes, I was talking about the USA. If you filter out the empty housing that is owned as a "investment", is that still true? I would like it to be true, that gives me hope.