All across the country, downtowns, office spaces and shopping centers are at risk of becoming ground zero for a new economic hazard: the urban doom loop. The fear is that a commercial real estate apocalypse could spiral out and slowcommerce, wreckinglocal tax revenue in the process. Crucially, wonky tax rules mean certain places are more exposed than others: Chicago and Boston, for example, have large office footprints and rely heavily on property tax revenue.
The “urban doom loop” should more precisely be called “historically Democratic party governed large cities.”
There I fixed it.
Fullbladder
2 years ago
The cosmopolitans laughed dismissively as rural cities and towns were decimated by the very policies that they, the cosmopolitans, advocated and voted for. Now the liberals, who never thought it could happen to THEIR CITY, are looking to the very same reprobates to “do something”. The renaissance is going to be small towns and rural communities that are filling up with Conservative, self-sustaining Patriots. As the history of Rust-Belt cities has shown, there’s no written-in-stone rule that cities can’t fail…even Big City’s.
Big Cities are mostly failures outside of the prestigious downtown and yuppie neighborhoods, and have been so since the 70’s. The political leaders who like to say that the big cities are the GDP generators really fail to mention that many, if not most, of those individual employees generating that GDP are suburbanites. Just like cities are split between nice areas and bad areas, rural areas and small towns are a mixed bag too. Tourist areas and areas with industry tend to be nicer, but for every nice rural/small town, there’s another small town full of meth heads, tweakers, crank… Read more »
Giddyap
2 years ago
BJ’s tax grabs will drive away business and kill property tax revenue
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
The “urban doom loop” should more precisely be called “historically Democratic party governed large cities.”
There I fixed it.
The cosmopolitans laughed dismissively as rural cities and towns were decimated by the very policies that they, the cosmopolitans, advocated and voted for. Now the liberals, who never thought it could happen to THEIR CITY, are looking to the very same reprobates to “do something”. The renaissance is going to be small towns and rural communities that are filling up with Conservative, self-sustaining Patriots. As the history of Rust-Belt cities has shown, there’s no written-in-stone rule that cities can’t fail…even Big City’s.
Big Cities are mostly failures outside of the prestigious downtown and yuppie neighborhoods, and have been so since the 70’s. The political leaders who like to say that the big cities are the GDP generators really fail to mention that many, if not most, of those individual employees generating that GDP are suburbanites. Just like cities are split between nice areas and bad areas, rural areas and small towns are a mixed bag too. Tourist areas and areas with industry tend to be nicer, but for every nice rural/small town, there’s another small town full of meth heads, tweakers, crank… Read more »
BJ’s tax grabs will drive away business and kill property tax revenue