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If California voters approve the exemption of corporate real estate from Prop 13, I think we'll be okay.Mostly yes. But the commercial real estate market has been securitized similar to the mortgage backed securities fiasco. Luckily, it's only about a tenth the size. But it's collapse will probably have some negative macroeconomic consequences. And if those properties get their values written down, their property taxes will be reduced, which will reduce revenues to the state, cities, and schools, which will make it even more likely that they layoff more employees and reduce economic activity.
Given that SF is not an island (despite what we might think and our elected reps assume), my fear is that reopening is the quickest way to get back into the red.
I hope it holdsThe low infection rate has held steady for several weeks now, I’m pleasantly surprised to say.
It would be interesting to see this heat map by countyI don't know if this is recent but yeah, I recalled CA was yellow a week ago or so..
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