It’s also related to financing reality. Commercial real estate is refinances every 10 years or so based on the expected rent. The math works out such that it’s

It’s also related to financing reality. Commercial real estate is refinances every 10 years or so based on the expected rent. The math works out such that it’s far more reasonable to leave a unit empty with a higher rent than occupied with a lower rent, since the refinancing terms dominate the amount of lost rent.