Commercial Crashes in Blue Cities

[Terrel L. Shields]

 

[Airstream]

I just read an article that Chicago's commercial is so bad, they are losing tax revenue. So they have to raise property taxes on residential and people are burning their tax bills in protest. One of the worst run cities in the U.S. The mayor is a complete nut job.

 

[Mark K]

So they have to raise property taxes on residential and people are burning their tax bills in protest.

No sympathy. They got exactly what they voted for. Hell, most of them probably think that Trump's to blame.

 

[Fernando]

This guy talks too much for so long.
I'll consider if I should appeal my assessed value.
I'd been complaining about city's lack of support for business over past years. I wondered how commercial appraisers dealt with the falling and continue falling prices.
Other metros would be devasted with such vacancies.
Fortunately, Bay Area is diversified. SF and Oakland driven many businesses away but other cities especially in Silicon Valley to the South are doing well.
Still my restaurant tenants been saying with food cost going up less people going out to eat. Tenants don't see business doing well until next year.

 

[DTB]

I just read an article that Chicago's commercial is so bad, they are losing tax revenue. So they have to raise property taxes on residential and people are burning their tax bills in protest. One of the worst run cities in the U.S. The mayor is a complete nut job.

 

[Fernando]

SF mayor is more "conservative" than prior mayor and is being more proactive in making changes.
There was a progressive supervisor who was recalled recently and mayor appointed this young inexperienced lady as replacement.
Within a week after word got out she was not of good character, she resigned.
Made me wonder how the mayor did his vetting process and his judgement. Same like Trump, not too smart.

 

[Fernando]

MSN

San Francisco Hotels That Echoed City’s Decline Sell for 75% Off​

A pair of San Francisco hotels whose travails exemplified a fallen commercial real estate market are changing hands, marking a milestone in the city’s comeback story as it attracts some of the world’s largest investors.

Newbond Holdings and Conversant Capital are partnering to acquire the Hilton San Francisco Union Square and Parc 55 San Francisco for $408 million, according to a statement Friday. The price represents a roughly 75% discount to the hotels’ appraised value in a 2016 financing.

 

[Terrel L. Shields]

Same like Trump, not too smart.

Trump has nothing to do with California's problems. They are all created internally by progressive liberal democrats who seem to think money grows on trees.