301–310 of 527 posts
This will (proportionately)happen to downtown Palo Alto when Palantir moves out, though that will probably be good for downtown. They had too large a percentage of the available real estate. The city council ought to find a way to stop this kind of monoculture though I’m not sure how it could reasonably be done.
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Developers in Chicago are building as fast as they can right now. It's counterintuitive to people on the outside, but from what I read, it's because labor, material, and capital are dirt cheap. So the developers are putting up new skyscrapers and other mega-developments so they're in a good position to take advantage of the recovery. A new 57-story office tower opened just last week: https://www.chicagoarchitecture.o…
I was under the impression that building materials are very expensive right now.
A close relative of mine is a top real estate appraiser based in San Francisco, and she's terrified about what happens in Q2 2021, when leases will start terminating en masse. She's had a call with the St. Louis Fed, as they're trying to get an idea of what this will look like. She thinks it will be a bloodbath, and deal a death blow to corporate real estate (and other capital markets by extension).
At risk of extreme naivety, why do failed real estate investments merit Fed support and attention? I thought they were just for maintaining a sound dollar and liquidity and the financial system, not charity for real estate kings.
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Thankfully you can do sound isolation without concrete. If they do that or want to save money is a different topic I guess.
> Concrete separation also acts as fire barriers, which is very important in areas where people will be cooking stuff Sheetrock (gypsum) can solve this problem if you use enough of it. But that can get expensive.
A close relative of mine is a top real estate appraiser based in San Francisco, and she's terrified about what happens in Q2 2021, when leases will start terminating en masse. She's had a call with the St. Louis Fed, as they're trying to get an idea of what this will look like. She thinks it will be a bloodbath, and deal a death blow to corporate real estate (and other capital markets by extension).
At risk of extreme naivety, why do failed real estate investments merit Fed support and attention? I thought they were just for maintaining a sound dollar and liquidity and the financial system, not charity for real estate kings.
Probably the worst consequence from a failed commercial real estate market will be the collapse of the economy that services and depends on these spaces. Restaurants, trasport, maintenance workers and so on will inevitably fail. This will lead to loan defaults, bankruptcies and eventually this trickles down to every citizen in the community if not the country.
For a historical view of this type of collapse, look into any resource based boom to bust city or town. The sad part is those that can leave, get out long before the SHTF and it's only the middle class to poor left holding the bag. Then when the Fed steps up with a bailout the parasitic rich start showing up again to ride the recovery, lining their pockets once again.
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Personally I don’t think “low taxes” are “reasonable”. We live in a complicated society and we all benefit when we collectively pay people to do a huge variety of important jobs which are hard to fit into a pure-profit system. Cutting funding for those exposes us to a wide variety of risks and eliminates many future opportunities, in the long term harming us all. The Covid pandemic is a perfect case study in the way…
There are really two axes that everyone seems to conflate into one. There is funding, as in whether or not there is sufficient funding to achieve certain outcomes. Then there is competence, as in managing the resources to achieve certain outcomes. Both are necessary but neither sufficient by themselves, only together. The U.S. seems to be stuck in a loop wherein the available funds are argued about endlessly, and eve…
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It depends, and whilst San Francisco can’t be compared to Harlow there can be some tragic ramifications: https://www.bbc.co.uk/news/uk-england-essex-47720887
I mean, Terminus House was essentially turned into a large project where people were dumped, an approach that has shown similarly disastrous results in the US for decades. That's quite different from turning office space into desirable apartments.
It all seems very similar to me. I'm sure at the start they also thought they were turning defunct office space into desirable apartments too.
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At risk of extreme naivety, why do failed real estate investments merit Fed support and attention? I thought they were just for maintaining a sound dollar and liquidity and the financial system, not charity for real estate kings.
The central component of the American Dream is that, once you're rich, the government will do everything in its power to make sure you remain rich.
A close relative of mine is a top real estate appraiser based in San Francisco, and she's terrified about what happens in Q2 2021, when leases will start terminating en masse. She's had a call with the St. Louis Fed, as they're trying to get an idea of what this will look like. She thinks it will be a bloodbath, and deal a death blow to corporate real estate (and other capital markets by extension).
I’d she’s based in SF why didn’t she contact the SF Fed?
I live in a state where we are suddenly inundated with California’s refugees, fleeing the state now that they don’t have to physically live there. Reasonable taxes, a much less stressful work-life balance, bigger homes all make it very appealing to ditch the once0golden state. Our company has decided not to reopen a majority of it’s office space. Ironically, the Bay Area office is remaining open while other offices a…
I can't help but think this take is projecting a bit too much. Inundated? How so? What are you seeing? Tax benefits, work-life balance and bigger homes? Really, you can see these changes in the last 6 months of a pandemic? I could be wrong but I don't think the majority of employers are letting employees change states (and state taxes). WFH does not mean work from anywhere, especially tax-wise. This all sounds plausi…