What happens to property values in areas like SF and NYC with work going virtual? (capitalism, money)

[redguard57]

Originally Posted by ohio_peasant

At the risk of defaming my beleaguered countrymen, whose talent indeed bears plenty of room for improvement, I say that rare is the truly irreplaceable person, who can name his price and purpose, and thrive under any duress. Most people, however well-educated or experienced, are of a middling sort. If one is so good and costly, he can be replaced by two, each at half of the price.

More on topic.... the top-level luminaries, given the 'rona and the other barbs of modernity, might actually consider decamping to some place like Ohio.... not because they wish to trade the symphony-orchestra for dueling banjos, but because the value proposition of a truly great city - the energy, the richness, the amenities and feel - is rather moot, when we're masked and distanced.

Cities around the country were willing to give up their virginity for free if only Amazon would locate it's HQ2 there. Including Columbus, OH. Amazon wasn't interested at any price. When they couldn't get the site in NYC they wanted because a little girl congresswoman said a few mean things, they just chose just not to build the 2nd new HQ.

Sucks to not even be attractive enough to be the 2nd choice when you throw yourself at someone, because they're so picky they'd rather be celibate than not have the one they want.

[Phil P]

Originally Posted by redguard57

Cities around the country were willing to give up their virginity for free if only Amazon would locate it's HQ2 there. Including Columbus, OH. Amazon wasn't interested at any price. When they couldn't get the site in NYC they wanted because a little girl congresswoman said a few mean things, they just chose just not to build the 2nd new HQ.

Sucks to not even be attractive enough to be the 2nd choice when you throw yourself at someone, because they're so picky they'd rather be celibate than not have the one they want.

Hahahaha, you're assuming Amazon actually considered an HQ2. The whole thing was a publicity stunt to disguise a tax exemption harvesting mechanism to blugeon Seattle and lower rates in NoVa, where they were headed regardless of anything else. One reason that whole company sucks; Walmart is a much better, ethical company.

An example related to the OP is Equinix, who recently announced they would transition to a work from home policy for all employees, as long as they are based in a market with an Equinix data center. Job salaries are still really high, but you no longer have to be in the pit of the Bay Area to work there.

[roadwarrior101]

Originally Posted by silverkris

And why is behavior under the pandemic so politicized in this country? In France, Germany, Japan, Hong Kong, South Korea, Taiwan, Canada, it isn't.

Blame our esteemed president for propagating an issue out of nothing to stoke his base.

Well, also blame his base for following him like sheep at the expense of the health of themselves and others around them. Really proves the theories of darwinism.....until now, I had thought that neanderthals were long extinct.

[redguard57]

Originally Posted by Phil P

Hahahaha, you're assuming Amazon actually considered an HQ2. The whole thing was a publicity stunt to disguise a tax exemption harvesting mechanism to blugeon Seattle and lower rates in NoVa, where they were headed regardless of anything else. One reason that whole company sucks; Walmart is a much better, ethical company.

An example related to the OP is Equinix, who recently announced they would transition to a work from home policy for all employees, as long as they are based in a market with an Equinix data center. Job salaries are still really high, but you no longer have to be in the pit of the Bay Area to work there.

Indeed, I root for Walmart these days as the last man standing against Amazon.

If they truly did not intend the 2nd branch of HQ2, wow they played Cuomo and De Blasio for fools.

[gentlearts]

It all remains to be seen, but all of we regular people In flyover country, with very nice houses under $300k will be laughing our heads off.

[ddeemo]

Originally Posted by redguard57

Cities around the country were willing to give up their virginity for free if only Amazon would locate it's HQ2 there. Including Columbus, OH. Amazon wasn't interested at any price. When they couldn't get the site in NYC they wanted because a little girl congresswoman said a few mean things, they just chose just not to build the 2nd new HQ.

Sucks to not even be attractive enough to be the 2nd choice when you throw yourself at someone, because they're so picky they'd rather be celibate than not have the one they want.

Except AOC didn't just say a few mean things - she killed the plans for 25,000 new jobs.

FYI - they are going ahead with Arlington VA as 2nd HQ and a new operations center in Nashville - sucks to be wrong.

[mizzourah2006]

Originally Posted by Phil P

Hahahaha, you're assuming Amazon actually considered an HQ2. The whole thing was a publicity stunt to disguise a tax exemption harvesting mechanism to blugeon Seattle and lower rates in NoVa, where they were headed regardless of anything else. One reason that whole company sucks; Walmart is a much better, ethical company.

Isn't that funny. All these years later, Walmart looks a little bit more like the "good guy". They employ over a million people and pay ~2% of all corporate income taxes in the US and Amazon...well you know how that goes.

[Malloric]

Originally Posted by ddeemo

Except AOC didn't just say a few mean things - she killed the plans for 25,000 new jobs.

FYI - they are going ahead with Arlington VA as 2nd HQ and a new operations center in Nashville - sucks to be wrong.

AOC was a figurehead that saved the taxpayer $60,000 per job in welfare that would have gone to Amazon. The figure was part of the problem. Virginia taxpayers only got suckered to the tune of around $20,000 per job in welfare bennies. Had the pig trough been a bit less overfilled, it might have been more palatable. AOC would have probably still opposed it on principal but it wouldn't have gotten the broad traction it did but for the price tag of filling up the pig trough.

The other problem of course was the timing. The China, Wisconsin, was still in too recent memory. That and Amazons bidding process was not palatable. Basically they just told cities to bend over and whoever would pay the most for the privilege of bending over would get privileges. Then they did it again for round two. And then again for round three.

[ddeemo]

Originally Posted by Malloric

AOC was a figurehead that saved the taxpayer $60,000 per job in welfare that would have gone to Amazon. The figure was part of the problem. Virginia taxpayers only got suckered to the tune of around $20,000 per job in welfare bennies. Had the pig trough been a bit less overfilled, it might have been more palatable. AOC would have probably still opposed it on principal but it wouldn't have gotten the broad traction it did but for the price tag of filling up the pig trough.

The other problem of course was the timing. The China, Wisconsin, was still in too recent memory. That and Amazons bidding process was not palatable. Basically they just told cities to bend over and whoever would pay the most for the privilege of bending over would get privileges. Then they did it again for round two. And then again for round three.

AOC was a figurehead for who? - the governor and mayor were both pushing the deal. She saved the taxpayers nothing, 2/3 of those across the city and the state of NY approved of the deal and estimates were that they would get back 10x what the incentives were in taxes. Also it was really a reduction in the high taxes NY city has to make the bid more competitive. https://www.nydailynews.com/opinion/...6km-story.html

We know from the polling conducted both during and after the Amazon fight that most New York City residents strongly supported the deal. A HarrisX poll found that 80% of registered voters in Queens and 77% of voters living in Gianaris’ Senate district wanted the Amazon deal to happen. A Siena College poll taken after Amazon’s withdrawal showed that the vast majority of New Yorkers were upset by the decision. Sixty-seven percent of those polled said that Amazon’s withdrawal was a blow to New York and only 21% said that Amazon’s retreat was positive.

A study commissioned by Gov. Andrew Cuomo's office found that Amazon's presence in New York City would generate $27.5 billion in tax revenue for the state and the city — much more than the incentives. Cuomo said the Amazon investment would bring in $9 in tax revenue for every $1 of revenue forgone because of the incentives.

I don't know what you think is happening, Amazon does not force anyone to submit a bid - no one has to bend over or give any incentives, it is up to the cities. This is the same process all of these businesses use to make location decisions.

[redguard57]

Originally Posted by ddeemo

Except AOC didn't just say a few mean things - she killed the plans for 25,000 new jobs.

FYI - they are going ahead with Arlington VA as 2nd HQ and a new operations center in Nashville - sucks to be wrong.

She doesn't even represent the district in question, and federal legislators had no power over the deal.

The NoVA site was already chosen, the NYC was site was something extra. It would have been good for the likes of Cuomo getting bragging rights and his kids getting lobbyist jobs. Not so good for the residents in the area who they are supposed to represent.

If Nashville wants to become unaffordable like Seattle they can be my guest. I would similarly oppose Amazon moving to my community with all I've got. Because once they did, I might was well start planning to move once the valuations skyrocketed.