Tag

Urban Centers

All articles tagged with #urban centers

business2 years ago•1 min saved

"Commercial Real Estate: The Varied Impact on Office Markets"

The pandemic's impact on commercial real estate is leading to significant price markdowns on office buildings across the United States, as remote and hybrid work trends continue to hollow out urban centers. This decline in property values is causing cities to face budget shortfalls, as they rely on taxes associated with valuable commercial properties. San Francisco, for example, is anticipating a $1 billion budget shortfall over the next few years due in part to lost commercial real estate tax revenue.

via The New York Times|

#budget-cutbacks #business #commercial-real-estate

business3 years ago•10 min saved

Rising Theft and Violence Forces Major Retailers to Close Stores in US Cities.

Giant Food, a regional grocery chain with 165 supermarkets across D.C., Delaware, Maryland, and Virginia, is taking steps to cut costs and deter shoplifting, including closing entrances to create more obstacles for thieves and hiring armed security guards. The move comes as retailers across the country face rampant and pervasive theft, decreased foot traffic in urban centers, and inflation-related issues such as higher labor and real estate costs. While some companies are closing stores in underperforming markets, Giant Food is trying to stay and run its stores safely and profitably.

via The Washington Post|

#business #cost-cutting #giant-food

real-estate3 years ago•9 min saved

The Impact of Roommate Departures on Skyrocketing Rent Costs and Small Businesses in NYC.

The reason why rents are still high despite the pandemic exodus is that people got sick of living with each other and decided to move out of their cramped quarters for places of their own, creating thousands of home hunters, all jostling for a relatively fixed number of units. This surge in household formation caused an increase in the "extensive margin of demand" and the "intensive margin," leading to an increase in the number of people wanting not only places of their own but also bigger homes. The rental market is now in the middle of another shift as higher interest rates squeeze consumers at every turn.

via Business Insider|

#household-formation #housing-market #real-estate