Matthew Yglesias

@mattyglesias ↗

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Last Checked Sept. 28, 2022

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Thu Jul 21 16:33:18 +0000 2022

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Matthew Yglesias @mattyglesias

Chicago has thus far avoided that fate because it’s biggest and most amenity/rich Midwestern city. But *all* central cities are facing a negative shock to their tax base and residential demand thanks to remote work and they all have a problem on their hands as a result. — PolitiTweet.org

Posted July 21, 2022 Hibernated

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Matthew Yglesias @mattyglesias

These aren’t cities without significant assets either — that’s precisely the tragedy of it, when cities enter spirals of decline tremendous amounts of physical capital along with cultural amenities and social institutions end up wasting away. — PolitiTweet.org

Posted July 21, 2022 Hibernated

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Matthew Yglesias @mattyglesias

The difference is that lots of cities were either in decline already pre-pandemic or else were so expensive pre-pandemic that even after a hit to demand, market prices are still way above replacement costs. Chicago is unusual in that it may have slipped below the horizon. — PolitiTweet.org

Posted July 21, 2022 Hibernated