-- Connecting the dots between our economy, government and business --
Five years after the start of the Covid-19 pandemic, U.S. cities are still struggling to avoid commercial real-estate doom loops that have claimed areas such as downtown St. Louis. Fights like the one involving the River North building’s creditors are making it much harder for communities to rebound.
With $162 billion more from taxpayers, couldn’t you deliver a few bond upgrades, too
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.
Everybody needs a side hustle these days, and mine is Ukraine, where I am now.
Summary and audio linked here.
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Audio and summary
Downtown is now Dead town. Not safe so people leave the area, never to come back. Many of the businesses have left the state for greener pastures.
Democrats did this. They have finally killed the business climate in Chicago but are too stupid to realize it. Fools like PPF never thought that the Golden Goose would die. Its not dead but living well in Texas and has flown from Illinois. Hopefully the Public Sector Union scum got a nice fat dropping in their gaping moronic mouth as the goose flew over them while vacating the state.
Not a very good article. Blackstone ‘defaulted’ to get the loser property off it’s books, not because they financially had to. Says a lot about the ‘doom loop’ and it’s spread out to the nice suburbs.
“Build it and they will come” no longer applies. That’s why you have so many abandoned strip malls. They’d build them w/o tenants, figuring they’d rent them out once finished. This story is why I never invested in REIT’s. And if properties are worth less they’ll get a property tax reduction so homeowners have to make up the difference.