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Thames Water Bills to Rise 48% to Fix Pipes and Leaks Around London - Bloomberg

The company said Bloomberg Terminal Monday its proposed investment — running from 2025 to 2030 — would help fund a 28% reduction in storm overflows and a 30% decline in the number of pollution incidents. The average monthly bill may rise by £14.55, which amounts to an increase of about 48%, according to Bloomberg calculations.

#cities #inflation #london #doom-loop #infrastructure - bloomberg.com

The Real Cost of New York City Office Real Estate

In separate research, Van Nieuwerburgh has extrapolated the economic consequences of this collapse in value for the health of cities, forecasting that a decline in property-tax revenue would create budget deficits for municipal governments that would lead to cuts in services like policing and trash collection, causing a deterioration in the quality of life. He calls this dynamic an “urban doom loop,” a phrase that has caught on. Van Nieuwerburgh told me that the city comptroller’s office had recently cited his analysis as a “doomsday” scenario. But even in the case of a 40 percent decline in values, the comptroller’s report found, the revenue decline would be modest in the short term — only around $1 billion by 2027. With a hint of amusement, Van Nieuwerburgh questioned that conclusion. “They call it sort of the worst-case scenario,” he said, “which I think is a misinterpretation of our paper. Our paper is not a worst-case scenario; it’s the median scenario.” If remote work persists at the current rate, he has projected a much larger tax hit to the city: around $6 billion a year.

#cities #real-estate #interst-rates #wfh #doom-loop - curbed.com

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