It’s possible the pandemic will fizzle, someone will snap their fingers, and everything will revert to the precovid economy. But indications are that commercial real estate will take lumps, some that will be fatal.
The new covid relief bill signals that whatever restraint on public spending existed before 2020 is now all but gone. And the bill represents the beginning of a new era: an era that can be likened to that of the New Deal.
Local politicians have pretended the Lemp killing never happened and the media let them get away with it—the same way that most of the New York media covered Governor Andrew Cuomo’s nursing home catastrophe last year.