Tonight the Greensboro City Council considers a $1.9 Million Dollar grant to build a Wyndham Hotel in downtown Greensboro-- a real estate development deal.
Until the Greensboro City Council takes the lead and reins in the real estate developers nothing will change as the developers can only think short term profits. They've cut their own throats and are too dumb to know they're bleeding us all to death-- themselves included.
Real estate development is and always will be an economic indicator, not the economic driver our "leaders" and economic development "gurus" make it out to be. It never brings the returns they claim and it never will. Take for example:
"Imagine an airplane landing at an airport and everyone gets out and gives each other a million bucks, then gets back on the plane. That's $200 million in economic activity, but it's not any benefit to the local economy."
Yes, the reference is to the Superbowl but the numbers game works the same way.
