Multipolarity
Chinese Wobbles, BRICS' New World Order, San Fran Down The Pan
Aug 24, 2023
The podcast debunks predictions of a Chinese economic plummet, analyzes the lack of evidence supporting these claims, and explores potential issues in the housing sector. It also discusses how macroeconomists' expectations can influence market expectations, examines China's low inflation rate and its impact on economic growth, and highlights the recent scares in the Chinese housing market. Additionally, the podcast explores the BRICS summit and the agenda to reduce dependence on the US dollar, as well as troubling trends in the US housing market such as the decline in real estate activity in San Francisco and the exodus of investment firms from New York City.
49:14
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Quick takeaways
- San Francisco's real estate market is suffering from low footfall and occupancy rates, prompting efforts to revitalize the city center.
- The departure of investment firms from New York City raises concerns about its real estate market and agglomeration effects.
Deep dives
San Francisco's Struggling Real Estate Market
San Francisco, once a booming real estate market, is now experiencing a significant decline. The city center, once bustling, is now nearly empty with a lack of footfall and occupancy. Landlords are offering free space to charities in an attempt to generate some activity. The mayor has introduced a 10-year plan to revitalize the city center, but the current state of San Francisco's real estate market is concerning.
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