Money talks...but sometimes it also begins to walk and then run

[Packard27]

Memo

To: Minneapolis, NYC, LA, Washington DC, St. Louis, San Francisco, Portland, Seattle, Detroit, Atlanta, and Baltimore

“Capital will always go where it’s welcome and stay where it’s well treated. Capital is not just money. It’s also talent and ideas. They, too, will go where they’re welcome and stay where they are well treated.” Walter Wriston (former CEO of Citi Bank).

Never say that you were not warned.

[sdholloway56]

Hmmm.

Probably why blue states make a positive contribution to the federal budget while red states are on the dole.

I doubt 3M and General Mills are moving their HQs to Ottumwa.

Only slightly related- a big problem for people heavily invested in urban real estate.

Expect the two NY crime families to loot as much as they can before the inauguration.

[sdholloway56]

To elaborate- that is about the real black swan that a massive public health debacle plus emerging tech delivered.

[sdholloway56]

Office, retail space already massively overbuilt.

[Packard27]

Imagine what happens when all of that overbuilt real estate meets an army of panicky buyers and sellers who cannot get away from dysfunctional cities like Minneapolis, LA, Chicago, and NYC fast enough.

Wait! Did I just post the word, “imagine?”

[sdholloway56]

You're watching too much FOX.

But yes, I think primarily driven by 1) what will be a brutal recession that won't spare people in high priced cities and 2) the black swan event that put the nail in the coffin of bricks and mortar retail and the office paradigm.

As I said elsewhere, an opportunity for rural communities that have had the forethought to build high speed internet networks. 

Although my experience is that a lot of The Base types complain a lot but don't actually welcome additions to the gene pool.

[sdholloway56]

In a lot of Red America, the ideal development is just a foreign company building a plant with so-so wages so that life can go on for the people there.

[BA Deere]

Covid19  working at home shown that a brick & mortar headquarters aren`t as necessary as once thought (look what`s currently going on in banking) now you add riots in the mix, things will look differently. 

A city like Minneapolis drew yuppies because of the culture which begat job opportunities.  If the yuppy can work from the lake house, why in the world would go to the mall and possibly have one of his toehead kids hit with a flying brick when he can point & click on Amazon? 

Minneapolis has sports and shopping the opera, the Wild, the Timberwolves and the Vikings...so, spent $500 all said and told for the family going to a Vikings game, possibly being in a riot, why???   This Iowegian is going to spend his $$$ locally.  And maybe the Twin Cities say "don`t let the door hit you in the butt!" maybe they won`t miss me.  However the Twin Cities could easily become a ghost town depending how their antifa city council handle this ...another Detroit in the making. 

[sdholloway56]

I'd say more toward the suburbs and exurbs.

Better get back on the "farmland preservation" bandwagon.

[BA Deere]

I have 40 acres inside the city limits of a sleepy small town with many amenities and high speed internet and a river runs through it.  I figure I could sell (40) 1 acre lots for $500,000/acre to those looking for a safe workplace...of course they have to be screened to not bring their liberal ideas with them that caused them to get out of their mess in the first place, I want to see that they are registered Republicans before I sell   🙂