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Maybe I'm insulated here in Boston, but has the economy fallen out of big cities?
Maybe I'm insulated here in Boston, but has the economy fallen out of big cities?
Los Angeles unemployment is near or above 20% so it really depends on the industry. Safe to say, some cities are getting hit much harder than others.Maybe I'm insulated here in Boston, but has the economy fallen out of big cities?
Economy gets worse, you'd expect higher crime, no?
Once the Govt checks run out--- what do you think is going to happen in the inner cities?
Did Congress pass a second stimulus I'm unaware of? Stimulus checks were deposited/cashed months ago.
Also... stay away from the "welfare queen" adjacent signaling por favor.
Not yet.
The problem is the so called Boston economy is built on nothing more than a pile of sand. If it wasn't for the Fed buying tens of trillions in worthless bonds the Seaport would have already sunk into the ocean of leveraged debt.
Boston landlords will have to adjust to lower rents in the future to reshape Boston.
The new buildings and the developers that are leveraged that need $80 a square foot are in trouble.
Last I checked our economy is built on being the hub of the world in bio tech, the 2nd/3rd strongest startup/tech market in the market, the top hospitals in the world, the best higher education market, etc. We are the 25th top financial centre (GFCI) in the world, 6th in the US. I guess having a mixed economy built on biotech, education, medicine/heath care, banking, and tech is nothing but a pile of sand
Last I checked our economy is built on being the hub of the world in bio tech, the 2nd/3rd strongest startup/tech market in the market, the top hospitals in the world, the best higher education market, etc. We are the 25th top financial centre (GFCI) in the world, 6th in the US. I guess having a mixed economy built on biotech, education, medicine/heath care, banking, and tech is nothing but a pile of sand
I will update my post with two developments announced on Monday that will transform health care.The first two COVID vaccines that will be approved in the United States are based on a heretofore unproven technology based on messenger RNA. The success of those two vaccines is likely to lead to a veritable explosion of pharmaceutical research that will use messenger RNA to treat other illnesses and medical conditions.
.mRNA drug therapy: Instructing the body to make its own cancer drugs
Imagine that we could instruct our bodies to make the drugs they need themselves. The gene technology that makes this possible is called mRNA therapy, which may become a major tool in the treatment of multiple diseases. Norwegian researchers are currently helping to develop a drug of this kind...medicalxpress.com
It is very likely that Boston-Cambridge will become a world center for this research. The messenger RNA COVID vaccines are being produced in Andover and Norwood.
Andover, Massachusetts | Pfizer
Andover, MA Site Statistics 70-acre site that combines state-of-the-art R&D facilities with flexible, multi-product manufacturing capabilities.www.pfizer.com
It's hard to see why these stores with strong online presences would bother to continue paying high rents in areas with declining foot traffic and changing tastes. This can't all be pinned on the likes of Amazon, people just don't wander and browse the way they used to.
Exactly. Not everyone wants to buy the specific products off Amazon, but they certainly changed the way people approach shopping in general. Convenience is king now.Probably because they don't need to wander and browse anymore now that they can just order things from Amazon.
Probably because they don't need to wander and browse anymore now that they can just order things from Amazon.
Yeah, showrooms will forever be a thing, especially for more upscale / premium goods. Plenty of more "convenience" goods can just be bought blind on Amazon or whatever online platform, but for other goods there is absolutely value in seeing / feeling / trying on the product before buying. In addition to Allbirds and Warby Parker (multiple locations), other "e-commerce first" retailers with showrooms in Boston that I can think of off the top of my head include Tesla, Peloton, Everlane, Away, Bonobos, and Indochino (mulitple locations).One type of retail that was thriving pre-pandemic was showroom stores in downtowns for companies that do most of their business online. This is nothing new for furniture, which always had a strong remote ordering component, but there's a reason we now have physical Allbirds and Warby Parker stores.
Yeah, showrooms will forever be a thing, especially for more upscale / premium goods. Plenty of more "convenience" goods can just be bought blind on Amazon or whatever online platform, but for other goods there is absolutely value in seeing / feeling / trying on the product before buying. In addition to Allbirds and Warby Parker (multiple locations), other "e-commerce first" retailers with showrooms in Boston that I can think of off the top of my head include Tesla, Peloton, Everlane, Away, Bonobos, and Indochino (mulitple locations).
Also, the types of goods that are traditionally sold in fancy shops in high-rent districts are exactly the type of goods that call for "showrooming" the most. Generally, the type of person who is now perfectly happy buying homeware or furniture online isn't the type of person who was shopping for that stuff along Newbury St or in the Back Bay previously.