Impact on city revenue?

[Anonymous]

https://www.washingtonpost.com/politics/federal-employees-working-from-home/2021/05/23/73c34304-b8db-11eb-a6b1-81296da0339b_story.html

I’m a fed so this is kind of cool, but I also own commercial real estate in dc. I am wondering what this will do to the local economy and how the city will fill the budget shortfall. Tax the rich? Get money from upcoming legal weed sales? Are all the woke city council going to tax productive citizens into wanting to move away? I mean half the city is poor af and the government basically is the prime driver of the economy. If feds out in Leesburg aren’t commuting in to work anymore the traffic will be great but our local property values will get crushed and all the other ramifications.

[Anonymous]

Hasn't the right been asking for the "power in DC" to be diluted for years?

DC will be just fine, thank you.

[Anonymous]

Anonymous wrote:https://www.washingtonpost.com/politics/federal-employees-working-from-home/2021/05/23/73c34304-b8db-11eb-a6b1-81296da0339b_story.html

I’m a fed so this is kind of cool, but I also own commercial real estate in dc. I am wondering what this will do to the local economy and how the city will fill the budget shortfall. Tax the rich? Get money from upcoming legal weed sales? Are all the woke city council going to tax productive citizens into wanting to move away? I mean half the city is poor af and the government basically is the prime driver of the economy. If feds out in Leesburg aren’t commuting in to work anymore the traffic will be great but our local property values will get crushed and all the other ramifications.

You seem to be all over the place because you are panicked about losing value in your CRE investment.

Residential real estate will be fine, particularly SFH in communities with quality amenities. You could even see an increase in interest in further out areas, like Harpers Ferry, Annapolis/Kent Island, Warrenton, etc.

The downtown retail/restaurant scene is going to get hit hard though. Fewer amenities may make downtown living less interesting.

Great time for the suburbs.

[Anonymous]

Anonymous wrote:

Anonymous wrote:https://www.washingtonpost.com/politics/federal-employees-working-from-home/2021/05/23/73c34304-b8db-11eb-a6b1-81296da0339b_story.html

I’m a fed so this is kind of cool, but I also own commercial real estate in dc. I am wondering what this will do to the local economy and how the city will fill the budget shortfall. Tax the rich? Get money from upcoming legal weed sales? Are all the woke city council going to tax productive citizens into wanting to move away? I mean half the city is poor af and the government basically is the prime driver of the economy. If feds out in Leesburg aren’t commuting in to work anymore the traffic will be great but our local property values will get crushed and all the other ramifications.

You seem to be all over the place because you are panicked about losing value in your CRE investment.

Residential real estate will be fine, particularly SFH in communities with quality amenities. You could even see an increase in interest in further out areas, like Harpers Ferry, Annapolis/Kent Island, Warrenton, etc.

The downtown retail/restaurant scene is going to get hit hard though. Fewer amenities may make downtown living less interesting.

Great time for the suburbs.

I’m sorry, but no one cares about the suburbs and this thread was not about them. This was about the impact of maximum telework on city revenue and on predictions for the city itself. I don’t give a fck about Harpers Ferry. Sure, I like white water rafting and the views, but really stop side tracking the thread with conjecture.

Does anyone have any valid insight or good links into future projections for Washington DC?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:https://www.washingtonpost.com/politics/federal-employees-working-from-home/2021/05/23/73c34304-b8db-11eb-a6b1-81296da0339b_story.html

I’m a fed so this is kind of cool, but I also own commercial real estate in dc. I am wondering what this will do to the local economy and how the city will fill the budget shortfall. Tax the rich? Get money from upcoming legal weed sales? Are all the woke city council going to tax productive citizens into wanting to move away? I mean half the city is poor af and the government basically is the prime driver of the economy. If feds out in Leesburg aren’t commuting in to work anymore the traffic will be great but our local property values will get crushed and all the other ramifications.

You seem to be all over the place because you are panicked about losing value in your CRE investment.

Residential real estate will be fine, particularly SFH in communities with quality amenities. You could even see an increase in interest in further out areas, like Harpers Ferry, Annapolis/Kent Island, Warrenton, etc.

The downtown retail/restaurant scene is going to get hit hard though. Fewer amenities may make downtown living less interesting.

Great time for the suburbs.

I’m sorry, but no one cares about the suburbs and this thread was not about them. This was about the impact of maximum telework on city revenue and on predictions for the city itself. I don’t give a fck about Harpers Ferry. Sure, I like white water rafting and the views, but really stop side tracking the thread with conjecture.

Does anyone have any valid insight or good links into future projections for Washington DC?

You’re screwed. LOL

[Anonymous]

Feds have been leaving downtown for years now, this just accelerates things. DC will be fine- most feds aren't taxed by DC because they don't actually live in DC.

[Anonymous]

Anonymous wrote:Feds have been leaving downtown for years now, this just accelerates things. DC will be fine- most feds aren't taxed by DC because they don't actually live in DC.

GSA leases a ton of commercial space downtown. This will have a significant downward impact on office rents. Second, significant reduction in Federal workers means a significant reduction in consumer spending which will likely lead to restaurant and retail closures. Less active street scene in certain areas will make those areas less desirable for residents and now you can see the knock-on effects.

Worst case scenario is that certain sections of downtown, primarily between Farragut Square and Franklin Park on K and down to Constitution will lose a lot of businesses and become deserted and dangerous in the evenings.

[Anonymous]

Weed isn’t a magic money tree. The only place that has made money off of it is Colorado, and even then it is jurisdiction dependent.

If you look at California, and revenue is well below expectations and declining, because unsurprisingly, when you tax and regulate a previously untaxed and unregulated market, it declines. Just like any other commodity.

If we remove what the product is for a second, you’re basically suggesting a type of retail small business, in an environment that is hostile yo retail small business. Unless you’re suggesting it’s addictive, which I assume you aren’t, marijuana isn’t some magical drug (you can’t have it both ways).

Moreover it should be telling that the places talking about the promises of pot, all have financial issues and are looking for a get out of jail free card. It doesn’t matter how much money you give them, they’ll eventually waste it, and ask for more.