Interim Dean Merriman’s Co-Authored Study Cited in Wall Street Journal
In the Wall Street Journal’s “The Future of Everything / Cities and Real Estate column,” Peter Grant writes about the pandemic effects to business and travel revenues on urban areas. Grant cites Interim Dean David Merriman’s co-authored study for the Institute on Taxation and Economic Policy:
"Though magnitudes vary somewhat across cities, all face significant fiscal risks,” the Institute on Taxation and Economic Policy, a Washington, D.C., think tank, said in a November report that looked at the impact of remote working on property tax collections in eight cities. The report projected that prices for commercial real estate on average will fall between 12% and 25% in the medium to long term, according to its lead author Howard Chernick, an Institute board member and City University of New York economist."