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Denver's DOOM LOOP: $400M Buildings Sell for 90% LESS Thanks to Progressive Policies
Manage episode 519214384 series 2792715
Welcome to the commercial real estate apocalypse, where Denver office buildings are selling for literal pennies on the dollar! We're talking 85-90% haircuts on properties that were worth hundreds of millions just four years ago. Brookfield just took a $342 million bath on their Denver office complex, selling for $57.5 million what they paid $400 million for in 2020. Meanwhile, Seattle politicians are so incompetent they're closing city parks rather than addressing the rampant criminal activity destroying them.This isn't just a pandemic hangover – it's the predictable result of progressive leadership letting downtown cores become open-air drug markets while telling businesses "work from home forever." From Denver's twin towers selling for $6 million (down 90%) to Wells Fargo Center losing 76% of its value, we're witnessing the greatest commercial real estate collapse in modern history.Is anyone surprised that companies don't want their employees walking through zombie-infested streets? What did these progressive mayors think would happen when they chose criminals over taxpayers? The doom loop continues, and it's only getting worse.
3138 episodes
Manage episode 519214384 series 2792715
Welcome to the commercial real estate apocalypse, where Denver office buildings are selling for literal pennies on the dollar! We're talking 85-90% haircuts on properties that were worth hundreds of millions just four years ago. Brookfield just took a $342 million bath on their Denver office complex, selling for $57.5 million what they paid $400 million for in 2020. Meanwhile, Seattle politicians are so incompetent they're closing city parks rather than addressing the rampant criminal activity destroying them.This isn't just a pandemic hangover – it's the predictable result of progressive leadership letting downtown cores become open-air drug markets while telling businesses "work from home forever." From Denver's twin towers selling for $6 million (down 90%) to Wells Fargo Center losing 76% of its value, we're witnessing the greatest commercial real estate collapse in modern history.Is anyone surprised that companies don't want their employees walking through zombie-infested streets? What did these progressive mayors think would happen when they chose criminals over taxpayers? The doom loop continues, and it's only getting worse.
3138 episodes
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