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> Their reasoning is that CBD-based businesses are somehow entitled to pre-COVID customer levels It's more like downtown property prices are based on those lev
by onlyrealcuzzo 2y ago
> Their reasoning is that CBD-based businesses are somehow entitled to pre-COVID customer levels
It's more like downtown property prices are based on those levels, and property is leveraged, and if banks collapse do to commercial property prices plummeting, you're in for a bad time.
Also, although downtown is a very small part of the city - in many cities, downtown property taxes make up a relatively large chunk of total property tax revenues.
You either death spiral downtown property prices by keeping taxes steady while values decline, or you increase tax everywhere else to make up the difference.
Either of those options leads to a bad time for politicians.
- GenerocUsername 2y agoPoor politicians. "Government for the people by the people, unless the people don't want what they want"
- DiggyJohnson 2y agoI thought you were referencing this: https://youtu.be/QFgcqB8-AxE?si=mtt3UMDlNe41mnS- https://youtu.be/QFgcqB8-AxE?si=mtt3UMDlNe41mnS- > people don’t want what they want Which makes the opposite point, funny enough. Who is the “they”
- BeFlatXIII 2y agoThen I hope the workers don't patronize the CBD businesses and cause the collapse anyway.
- whimsicalism 2y agoI’m not in for a bad time, the banks are in for a bad time.