A commercial real estate apocalypse notably in midsize cities could spiral into the broader economy.
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 slowlocal tax revenue in the process. Ever since the pandemic drove a boom in remote work, hubs such as New York and San Francisco have drawnfor their empty offices in previously bustling skyscrapers.
at Columbia University’s Graduate School of Business who is one of the authors of a paper that coined American Rescue Plan, and those funds may not run out for another year or two. A large share of the outstanding business and mortgage loans are also not due for a few more years. Plus, the economy
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