The Doom Loop

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Three years into COVID pandemic, people still aren't going back to their offices at anything near the rate they were before it broke out. The idea of the doom loop is that as remote work pushes down property values, eventually the tax is collected from those offices and urban retail will also fall. Stan Van Neuverberg: "It's sort of a death spiral for cities"

Pandemic restrictions are mostly over, but cities are still struggling to recover. Empty offices threaten to set off a downward spiral of falling tax revenue and declining services. Today, Explained’s Miles Bryan tries to stop the doom loop before it starts.

This episode was reported and produced by Miles Bryan with help from Amanda Lewellyn. It was edited by Matt Collette with help from Jolie Myers, fact-checked by Laura Bullard, engineered by Paul Robert Mounsey, and hosted by Sean Rameswaram.

Transcript at vox.com/todayexplained

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