Happy Friday, Here’s some stuff you might like.
Business: It’s easy sometimes to forget the remarkable size and shear wealth generated by the U.S. economy, until you run into something like this: there are now more millionaires in the U.S. than there are people in Sweden or Portugal. And for those of you who, like me, thought, “Oh that’s a bunch of people who’ve owned a home since 1980 in San Francisco that’s now worth $2.5 million,” the calculation actually excludes the value of primary residences.
Law: Sometimes lawyers like to use words that the general population doesn’t know to make ourselves seem smart and to keep ourselves in business. One such word, often found in commercial leases, is “attornment.” That’s just a fancy way of saying that the tenant agrees to abide by the lease even if the landlord sells the property to a new owner. There, now you too can charge people by the hour to explain that word to them*. You’re welcome!
Politics: If you really want to have more affordable housing in Bend and make more employment land available for jobs that pay enough allow people to live here, you need two things right off the bat. The first is available land, which Oregon makes unnecessarily difficult and Bend has some but not much control over. The other is infrastructure, primarily streets and sewer, to serve what land is available. That’s why it’s important when the City Council sets transportation spending priorities with the $32 million it thinks it will have available in the next few years. The Council is likely to seek a property tax-funded bond in 2020 which would allow for more transportation improvements, which would make more money available for more projects.
Et cetera: You’ve probably heard that Bend is home to Earth’s last Blockbuster Video. That’s cool, but I’m here to verify something else related to at-home movie viewing on the high desert. Back when my family first moved to Bend in the late 80s, I remember hearing that Bend had the highest rate of VCR ownership in the U.S. Some internet sleuthing just now did not confirm or deny what I’d heard. Any of you old timers, let me know if you know anything about this. If you’re young, FYI: a VCR was like a cassette tape player but for . . . oh, well, never mind. Your friends can sign up to receive the Bend Business Roundup here. No sales, no spam. Just the weekly email you’ve come to know and love.
*Except you can’t legally charge people for legal advice unless you’re a lawyer because, well, lawyers.
Have a great weekend!