As a lifelong obsessive reader I have mixed feelings about “books r hot” ! My generous take is: it’s good to read! And libraries are underrated safe places of hope
These federal funds freezes are batshit. Guidance from advocacy organizations has basically been them forwarding White House memos, which isn’t exactly helpful.
It’s easy to read the EOs and think “okay, my programs have nothing to do with DEI or the green new deal”, but the way federal funding works is so fucked up and I’m worried my org could lose something like congressionally directed spending for an urgent care center because it was tacked onto something that’s getting frozen. Whoever is trying to do this has no idea how government works- I see plenty of wasteful spending but you have to be a real rube to think that a bill called AMERICAN INFRASTRUCTURE only has funding for bridges or something like that.
I’m really surprised Trump didn’t just campaign on cutting costs but then not actually go this hard from the jump- anyone with half a brain knows you can’t just start pulling a thread on the federal sweater without it getting incredibly messy, and it’s going to end up hurting a lot of poor white Republicans who put him in. If they start losing services he’s going to have a lot of angry folks- whether or not they realize the person they voted for is hurting them while he says he’s helping is left to be seen.
100000% now that it's easier to be hot if you have the money, it's no longer enough. The marker of status is moving to something even more elusive: intellectualism, and books are increasingly being commodified as a kind of status symbol.
The Macroeconomic trends here are still pretty shocking - national averages for multi family commercial real estate vacancy rates project at like 5% for the end of the year yet commercial office at like 20% as you state. The banks and financing behind commercial office assets still panic and would be in even worse shape if not for the multi family assets offsetting. That inventory is catching up and the dynamic is changing in some oversaturated markets.
As for DC, yes the current focus is on DOGE and forecasting of federal employee numbers but the DC economy is bolstered by the private industry consultants and contractors being fed by the government (Deloitte, Accenture, Booz Allen, EY, Amazon, etc) - and the largest share of those people are in the greater metro area, not downtown. Pretty sure you can see tumbleweeds blow down K Street at 10PM on a Tuesday night.
Lots of refinance risk coming too as we start seeing deals that were priced with swaps in 2020 / 2021 roll off. That property that u/w at 2.50% looks a lot different at 6.50%. Will be interesting to see who is stepping in to curtail these loans especially if it is sponsor backed and the sponsor is on a different fund.
I had a "Reading is Sexy" shirt in high school after seeing Rory Gilmore in one (https://images.app.goo.gl/tvE2zUjPT1qGMeeT6). Looking back I find it extremely cringe so I find the comeback of the shirt hilarious
As a lifelong obsessive reader I have mixed feelings about “books r hot” ! My generous take is: it’s good to read! And libraries are underrated safe places of hope
Libraries and book stores rock. They're quiet, they smell like paper and dust.
Books are hot is sooooooo funny
I love parks and libraries for their “all are welcome” approach
Bible Study is such a good name. And the branding!!!
I think it’s fun she has a vision
These federal funds freezes are batshit. Guidance from advocacy organizations has basically been them forwarding White House memos, which isn’t exactly helpful.
It’s easy to read the EOs and think “okay, my programs have nothing to do with DEI or the green new deal”, but the way federal funding works is so fucked up and I’m worried my org could lose something like congressionally directed spending for an urgent care center because it was tacked onto something that’s getting frozen. Whoever is trying to do this has no idea how government works- I see plenty of wasteful spending but you have to be a real rube to think that a bill called AMERICAN INFRASTRUCTURE only has funding for bridges or something like that.
I’m really surprised Trump didn’t just campaign on cutting costs but then not actually go this hard from the jump- anyone with half a brain knows you can’t just start pulling a thread on the federal sweater without it getting incredibly messy, and it’s going to end up hurting a lot of poor white Republicans who put him in. If they start losing services he’s going to have a lot of angry folks- whether or not they realize the person they voted for is hurting them while he says he’s helping is left to be seen.
100000% now that it's easier to be hot if you have the money, it's no longer enough. The marker of status is moving to something even more elusive: intellectualism, and books are increasingly being commodified as a kind of status symbol.
(I wrote about whether it's even possible to democratize literature without commodifying it at length here: https://theexistentialist.substack.com/p/2-intermezzo-and-the-sally-rooney)
Wow the more you know
Books are hot feels similar to the Running is hot of last year; I wonder if Williamsburg Book Club(s) will start popping up?
Babe they've already popped up
I’ll believe it when I see the “anti book book club” tshirt on someone who doesn’t know better
RE: The Commute Not Taken...
The Macroeconomic trends here are still pretty shocking - national averages for multi family commercial real estate vacancy rates project at like 5% for the end of the year yet commercial office at like 20% as you state. The banks and financing behind commercial office assets still panic and would be in even worse shape if not for the multi family assets offsetting. That inventory is catching up and the dynamic is changing in some oversaturated markets.
As for DC, yes the current focus is on DOGE and forecasting of federal employee numbers but the DC economy is bolstered by the private industry consultants and contractors being fed by the government (Deloitte, Accenture, Booz Allen, EY, Amazon, etc) - and the largest share of those people are in the greater metro area, not downtown. Pretty sure you can see tumbleweeds blow down K Street at 10PM on a Tuesday night.
Lots of refinance risk coming too as we start seeing deals that were priced with swaps in 2020 / 2021 roll off. That property that u/w at 2.50% looks a lot different at 6.50%. Will be interesting to see who is stepping in to curtail these loans especially if it is sponsor backed and the sponsor is on a different fund.
if any of these hot hot book clubs would like my book for their clubs i will quite literally bartend or whatever y'all are doing myself.....
whats your book
Cocktail bars should have a free lending library in the corner.
Free idea, I guess?
Anais has that I think
Orient Express (aka the best bar in the city) should def have it
I had a "Reading is Sexy" shirt in high school after seeing Rory Gilmore in one (https://images.app.goo.gl/tvE2zUjPT1qGMeeT6). Looking back I find it extremely cringe so I find the comeback of the shirt hilarious
Books Are Magic (as the storefront says)
I want to open a store across the street with scary books called Books are Tragic