...Karen also talked a lot about cities. Today’s urban areas are basically an old technology developed for the Industrial Revolution. Producers needed large numbers of workers in close proximity to factories. That is no longer the case as automation takes over, so cities are less important. Adding to that trend, the coronavirus scare is also making affluent people flee cities. This will affect commercial real estate and housing.
Saturday, May 23, 2020
cities - Rewinding the Tape | Mauldin Economics
Rewinding the Tape | Mauldin Economics
...Karen also talked a lot about cities. Today’s urban areas are basically an old technology developed for the Industrial Revolution. Producers needed large numbers of workers in close proximity to factories. That is no longer the case as automation takes over, so cities are less important. Adding to that trend, the coronavirus scare is also making affluent people flee cities. This will affect commercial real estate and housing.
...Karen also talked a lot about cities. Today’s urban areas are basically an old technology developed for the Industrial Revolution. Producers needed large numbers of workers in close proximity to factories. That is no longer the case as automation takes over, so cities are less important. Adding to that trend, the coronavirus scare is also making affluent people flee cities. This will affect commercial real estate and housing.
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