Philadelphia Mayor Cherelle Parker Says You All Need to Go Back to the Office. Now.

[Belize King]

The issue is the urban death spiral. She and other cities are trying to prevent it. I get it. I understand. It makes sense.

We as a society have antiquated urban centers now. Offices are obsolete. All these commercial loans are going to default if businesses are moving out of the structures. But guess what, you will file bankruptcy and somebody will get the building for pennies on the dollar and convert it something else. Let it happen right?

Guess who owns the loans for all these buildings that may default because of lack of tenants? Small to midsized banks. 30% of their portfolio is commercial buildings.

You don’t want to return to your office downtown? Okay. Your company gives up its lease. Nobody moves in. Building owner can’t pay their loan. City can’t collect taxes and provide services. Loan defaults. Bank goes under. Less banks are loaning out commercial loans. Unemployment rate raises due to businesses closing in the city. Crime raises. People move out the city. Less taxes are being collected.

The urban spiral.

 

[ORDER_66]

The issue is the urban death spiral. She and other cities are trying to prevent it. I get it. I understand. It makes sense.

We as a society have antiquated urban centers now. Offices are obsolete. All these commercial loans are going to default if businesses are moving out of the structures. But guess what, you will file bankruptcy and somebody will get the building for pennies on the dollar and convert it something else. Let it happen right?

Guess who owns the loans for all these buildings that may default because of lack of tenants? Small to midsized banks. 30% of their portfolio is commercial buildings.

You don’t want to return to your office downtown? Okay. Your company gives up its lease. Nobody moves in. Building owner can’t pay their loan. City can’t collect taxes and provide services. Loan defaults. Bank goes under. Less banks are loaning out commercial loans. Unemployment rate raises due to businesses closing in the city. Crime raises. People move out the city. Less taxes are being collected.

The urban spiral.

OR they can allow these buildings to be retrofitted or torn down and rebuilt for mixed use...

 

[At30wecashout]

Companies will eventually find a way to simply outsource or use AI and the only thing that will be in the office is servers and terminals.

You #workfromhome nikkas are fast tracking your own demise and don't even know it. And yes companies are doing whatever to save a buck, but you all will force them to re-evaluate their entire business model depending on the industry.

Not the worst thing in the world. Honestly, people get threatened that they will lose their livelihood for anything and everything.

Ask for too much money, Jinder will be doing my work.
Work from home? AI and Jinder will be on my shyt.
Successful product launch? Cool, time to release you guys and hit higher quarterly earnings.

This is like people getting mad at fast food workers wanting more cash and saying food prices will go up. THEY GO UP ANYWAY!
If this accelerates the bullshyt, fine. Honestly, the comfort of white collar work is 99% why white collar workers don't go in the streets with blue collar workers when there is a labor dispute. There is record labor organization happening and honestly it would be somewhat refreshing for things to go dumb so these multinationals can lay it on the line. IF WFH is the straw to break the back, they were bout to do that shyt anyway.

 

[BaileyPark31]

Companies will eventually find a way to simply outsource or use AI and the only thing that will be in the office is servers and terminals.

You #workfromhome nikkas are fast tracking your own demise and don't even know it. And yes companies are doing whatever to save a buck, but you all will force them to re-evaluate their entire business model depending on the industry.

That was gonna happen regardless

Everybody loves capitalism when the big guys win.... but wanna whine when the workers get an occasional W.

Biz owners and some workers are gonna have to adapt.

Maybe the milkman can make a comeback since everybody in the house

 

[Wild self]

Yall do realize that people who don’t go to the office affect the people who do, directly and/or indirectly.

Do you expect half the population to stay at home and the other half simply “serve” them?

All of the businesses that surround offices make money off the traffic.

There has to be a balance. Jobs are finite. During the pandemic when people were forced to work from home, a lot of other businesses closed.


It seems like everyone wants to be shut off from the world and only come out to eat, party and socialize online.

First malls, then movie theaters, now office buildings.

What’s going to end up happening is foreign companies are going to swoop in, but up all that real estate and extract more wealth from this country.

Its the 21st century. Adjust or die. Tired of humanity being slaves to a handful of businesses and corporations.

 

[ReturnOfJudah]

Never trust a hat haired hooligan

 

[The_Sheff]

It’s easy to paint mayors and governors as out of touch but reality is they are privy to a lot more data than you are and people around them understand what will happen if all those buildings stay empty.

You think public transportation is bad now, wait to see what happens when large amounts of people are no longer paying to use it to get to and around the city.

All those diverse restaurant options that people love to brag about, you think they survive on weekend date nights?

And yall sound silly talking about turn the buildings into homeless shelters and low cost housing. Couple huge issues, how is the tax revenue from those businesses going to be made up? Homeless people and people with low paying jobs footing the bill? How are those property taxes being paid? If those building are filled with government jobs, is the government going to pay out the 10-20 year lease agreement to terminate with the owner? They got that money? Or is the government just going to default on everything? Once the tenants mass default, what happens to the banks, they just fold and go bankrupt? It won’t be Chase, Wells Fargo, or Citi, that are hurt by that. It’s the regional banks that are actually in your neighborhood that are going to crash. Oh and if you are an investor you probably have a portion of your portfolio tied to real estate holdings, you prepared to eat those loses?

Next issue is, those building are smack dab next to lots of cultural centers. Do you really want to wade past streets of homeless people when trying to go to the museum or theater? You want to see drug abuse outside the window of your favorite steakhouse? After taking your kid to see a game you ready to wade through pan handle city?

This is not an “ok boomer” issue. This is legit. It’s a monumental shift in where people congregate and their spending habits. You can’t untangle 100 years urban and cultural design in 5 years and think everything will go smoothly.

 

[concise]

Didnt the NYC mayor eric adams say that and then begrudgingly walk his comments back a year later?

Companies have figured out WFH is the one non-money related competitive advantage for recruiting employees

The similarities between this woman and Adams are crazy so far.

 

[Wild self]

p? Homeless people and people with low paying jobs footing the bill? How are those property taxes being paid? If those building are filled with government jobs, is the government going to pay out the 10-20 year lease agreement to terminate with the owner? They got that money? Or is the government just going to default on everything? Once the tenants mass default, what happens to the banks, they just fold and go bankrupt? It won’t be Chase, Wells Fargo, or Citi, that are hurt by that. It’s the regional banks that are actually in your neighborhood that are going to crash. Oh and if you are an investor you probably have a portion of your portfolio tied to real estate holdings, you prepared to eat those loses?

Next issue is, those building are smack dab next to lots of cultural centers. Do you really want to wade past streets of homeless people when trying to go to the museum or theater? You want to see drug abuse outside the window of your favorite steakhouse? After taking your kid to see a game you ready to wade through pan handle city?

This is not an “ok boomer” issue. This is legit. It’s a monumental shift in where people congregate and their spending habits. You can’t untangle 100 years urban and cultural design in 5 years and think everything will go smoothly.

Well, blame gentrification for ARTIFICIALLY jacking up the Cost of Living. It's a long-deserved RETRIBUTION that these greedy owners deserve

 

[Tribal Outkast]

I just think they see people going to fun events and stuff around the city… those folks can’t work from home. They just want to fill those buildings again, I get it. WFH gang ain’t going for it though and it’s going to be hard to convince people that were given the pass to WFH for years that being in the office is better.

 

[Leasy]

It’s easy to paint mayors and governors as out of touch but reality is they are privy to a lot more data than you are and people around them understand what will happen if all those buildings stay empty.

You think public transportation is bad now, wait to see what happens when large amounts of people are no longer paying to use it to get to and around the city.

All those diverse restaurant options that people love to brag about, you think they survive on weekend date nights?

And yall sound silly talking about turn the buildings into homeless shelters and low cost housing. Couple huge issues, how is the tax revenue from those businesses going to be made up? Homeless people and people with low paying jobs footing the bill? How are those property taxes being paid? If those building are filled with government jobs, is the government going to pay out the 10-20 year lease agreement to terminate with the owner? They got that money? Or is the government just going to default on everything? Once the tenants mass default, what happens to the banks, they just fold and go bankrupt? It won’t be Chase, Wells Fargo, or Citi, that are hurt by that. It’s the regional banks that are actually in your neighborhood that are going to crash. Oh and if you are an investor you probably have a portion of your portfolio tied to real estate holdings, you prepared to eat those loses?

Next issue is, those building are smack dab next to lots of cultural centers. Do you really want to wade past streets of homeless people when trying to go to the museum or theater? You want to see drug abuse outside the window of your favorite steakhouse? After taking your kid to see a game you ready to wade through pan handle city?

This is not an “ok boomer” issue. This is legit. It’s a monumental shift in where people congregate and their spending habits. You can’t untangle 100 years urban and cultural design in 5 years and think everything will go smoothly.

This would be correct if it was other cities but have you visited Philly??? People taxes are not at work. The roads are terrible you have some of the worse neighborhoods in America… Public transportation is terrible… the City of Philadelphia has been so corrupted and poorly ran for decades going back to the 60s it is time for the shyt to fail and rebuild.

America in general has to adapt to the changes. Epic center cities are no longer needed. That shyt only works in overcrowded areas in Japan and China. The old way of living is over.

 

[Hoshi_Toshi]

Let the free market decide. Capitalism and all that. If the businesses fail due to not have lunch traffic to extort then change with the times. Society progresses.

 

[Godless Socialist CEO]

Some of you reading this who worked in an office as of March 19, 2020, probably haven’t been back to that office, at least not full-time, since March 19, 2020. That was the day when then-Pennsylvania Governor Tom Wolf (remember him?) ordered all non-essential businesses to close. But that was 2020. COVID is, of course, still a thing. But it’s now a thing sort of like the flu and RSV are things. And Philadelphia Mayor Cherelle Parker says enough is enough.

Last week, Parker told many city officials in Philadelphia to get off their couches and back to the office full-time. She fully expects the 25,000 or so other city employees to eventually do the same. And now, Parker has expanded her call, telling all Philly businesses to get their workers back to the office.

She said so at a Wednesday meeting of the Chamber of Commerce of Greater Philadelphia, telling the business owners and executives in attendance that she’ll do everything she can to make sure their employees have a clean and safe Center City to come back to. But, Parker insisted, a bright new future for Center City is “only sustainable” if all those workers head back to the office.

Thanks to COVID, pedestrian traffic in Center City went way, way down, as any Center City store, café, restaurant or bar will attest. But things haveimproved. Pedestrian activity is now up to about 85 percent of what it was before COVID knocked us out. Parker is hoping her back-to-the-office agenda will bring that stat up to 100 percent or even higher.

You can read Parker’s remarks here. One thing’s for sure: She knows how to give a speech.

If ur business fails because people aren’t going into the office that’s not anyone else’s problem

 

[Godless Socialist CEO]

Yall do realize that people who don’t go to the office affect the people who do, directly and/or indirectly.

Do you expect half the population to stay at home and the other half simply “serve” them?

All of the businesses that surround offices make money off the traffic.

There has to be a balance. Jobs are finite. During the pandemic when people were forced to work from home, a lot of other businesses closed.


It seems like everyone wants to be shut off from the world and only come out to eat, party and socialize online.

First malls, then movie theaters, now office buildings.

What’s going to end up happening is foreign companies are going to swoop in, but up all that real estate and extract more wealth from this country.

We don’t give a fukk that’s not our issue nor should we be expected to subsidize their failing businesses. They wanted to be entrepreneurs so better figure it the fukk out or fail. fukk them

 

[AAKing23]

In other words, "These rich white muhfukkas on my ass, commercial real estate is dying"