I'm still fearful for NYC given that commercial real estate paid so much in property taxes, and the bourgeois talk of just converting it all to residential is silly given that the buildings aren't designed for that purpose, and residential generally pays less in property tax in comparison. NYC will have to raise taxes to paper over this, and while there's something to give in a NYC, places like Baltimore have even less runway for something like that.

It's as if a whole generation of growth and future promise was wiped away in 2020.