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![]() Since cities physically consist of real estate, you would expect a pandemic that has severely disrupted life in cities to disrupt real-estate markets. And it has. There are disruptions on two time horizons. In the short term: Unpaid rents and vacant spaces mean financial losses for building owners as the crisis continues; in the long term, if the crisis changes certain real-estate usage patterns for good, it could lead to permanent reductions in the value of certain kinds of real estate, especially commercial real estate, even after society gets back to normal.... ...more RSK: I still do not think municipalities understand this....what will they do? Cut programs...probably not, de-fund police...big mistake...cut education ...don`t touch that one...so they will shift the burden somehow to homeowners and just raise the mill rates.....can of worms here people. | ||
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