[CTartist]

Moody’s: CT poised to be 1 of just 7 fiscally safe states
https://www.ctpost.com/news/coronavi...s-15270355.php



That's AWESOME!

What an unlikely turn of events in all of this mess.

"The reason for the state’s relatively strong position is the type of taxes the state has — perhaps less likely to rise and fall than other states’ taxes — and the mix of industries in Connecticut. Notably, the defense sector would be considered very stable, and insurance is somewhat stable."

Above is the point I was saying about CT jobs in past posts. Told ya.

"mix of industries in Connecticut"...........and all of those guys and gals on Wall Street who know how to make money throughout most downturns and catastrophes.

Randolph and Mortimer explain what they do to Billy Ray...."it sound to me like you guys are a couple of bookies"


https://www.youtube.com/watch?v=g4Uv4ftekaI

[BobNJ1960]

Originally Posted by CTartist

Moody’s: CT poised to be 1 of just 7 fiscally safe states
https://www.ctpost.com/news/coronavi...s-15270355.php



That's AWESOME!

What an unlikely turn of events in all of this mess.

"The reason for the state’s relatively strong position is the type of taxes the state has — perhaps less likely to rise and fall than other states’ taxes — and the mix of industries in Connecticut. Notably, the defense sector would be considered very stable, and insurance is somewhat stable."

Above is the point I was saying about CT jobs in past posts. Told ya.

"mix of industries in Connecticut"...........and all of those guys and gals on Wall Street who know how to make money throughout most downturns and catastrophes.

Randolph and Mortimer explain what they do to Billy Ray...."it sound to me like you guys are a couple of bookies"


https://www.youtube.com/watch?v=g4Uv4ftekaI

That is good news.

But I hate to say, I think NY metro region is in for extended awful period economically.

[Stylo]

Originally Posted by BobNJ1960

That is good news.

But I hate to say, I think NY metro region is in for extended awful period economically.

As opposed to the rest of the country? C'mon now...

[CTartist]

Originally Posted by BobNJ1960

That is good news.

But I hate to say, I think NY metro region is in for extended awful period economically.

I think we will feel pain in this area for sure but if we are in the 10 ten to have the least affected budget shortfalls that sure is a good thing.

[BPt111]

CBRE: Q1 Fairfield County office leasing down 44%

Leasing activity during the first quarter in Fairfield County’s office market was down by 44% from the fourth quarter of 2019, according to new data released by CBRE.

The first three months of the year generated 272,093 square feet in leasing activity, with most of the major transactions occurring in the suburbs rather than the central business district (CBD) zones. The median deal size in Fairfield County was 3,016 square feet, down 33% quarter over quarter and down 17% year over year.

https://westfaironline.com/124299/cb...asing-down-44/

[BPt111]

No Rush On Buying But Right-Priced Homes In Desirable Areas Still Sell In Fairfield County


About half the home buyers in Fairfield County are on hold, "said Jeff Woda, a real estate broker with Coldwell Banker, but the full picture, he continued, is not yet known. That will come in the second and third quarters to compare. Ridgefield, for example, had 25 sales in April, down 32.4 percent from 37 sales in April of 2019. The figure is 21.9 percent lower than the 32 sales in March.

"Buyers are starting to come back out and inventories are still low. Many are afraid of the virus and want to wait," added Woda. "Some want to do only virtual showings, so it depends if you can wait if you want to buy another house, (or) are you afraid of the virus (with showings)? There's not one good answer. If you're ready, willing and able, then just do it."

A new interest he's seen, moreover, is New Yorkers seeking work/home apartments. "People are realizing that working from home may be the new normal. Physical office visits may be a thing of the past. It is more important than ever to have a home office in your apartment and a space designed for the work environment."

[BobNJ1960]

Originally Posted by Stylo

As opposed to the rest of the country? C'mon now...

Yes, NYC will be harmed economically far worse than the nation. A city built around an immense amount of high density nightlife and covid are not friends. JP Morgan Chase is rethinking how much NYC real estate it wants, as it considers wfh on a permanent basis. For point of reference what that means to NY real estate, plus people at JP usually there to spend on restauranst, delis, bars, JP Morgan NY leased the square footage in NYC pre covid equal to all of downtown Nashville. JP's NY headcount pre covid, I have read, was close to 200k.

NY Times ran great column (paywall unfortunately) about many similar corps reconsidering work in NYC, as in NOT remote, from now on.

Covid is bad nationally in many areas. For NYC, it's a permanent game changer. Southwestern Ct being dependent on NYC is not good at this point.

[BobNJ1960]

Originally Posted by CTartist

I think we will feel pain in this area for sure but if we are in the 10 ten to have the least affected budget shortfalls that sure is a good thing.

It certainly helps offset some public sector issues, but will not help with private sector issues.

[Mike 75]

Originally Posted by BobNJ1960

Yes, NYC will be harmed economically far worse than the nation. A city built around an immense amount of high density nightlife and covid are not friends. JP Morgan Chase is rethinking how much NYC real estate it wants, as it considers wfh on a permanent basis. For point of reference what that means to NY real estate, plus people at JP usually there to spend on restauranst, delis, bars, JP Morgan NY leased the square footage in NYC pre covid equal to all of downtown Nashville. JP's NY headcount pre covid, I have read, was close to 200k.

NY Times ran great column (paywall unfortunately) about many similar corps reconsidering work in NYC, as in NOT remote, from now on.

Covid is bad nationally in many areas. For NYC, it's a permanent game changer. Southwestern Ct being dependent on NYC is not good at this point.

Its gonna be bad for NYC no doubt for the reasons you listed. But I think SW CT (and CT overall) benefits from an exodus from the city to the suburbs and the shift to work from home.

[BobNJ1960]

Originally Posted by Mike 75

Its gonna be bad for NYC no doubt for the reasons you listed. But I think SW CT (and CT overall) benefits from an exodus from the city to the suburbs and the shift to work from home.

possibly. To the extent we wfh, Southwest Ct benefits some. I spend between $30 and $50 week more, on lunch at a deli in Milford, vs when I work in NYC.

I'd be surprised to be in the office before q3, at the earliest, and even then, it will likely be part of each month, at most.