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They’re going to try. A lot of tech “benefits” revolve around quirky office space. When you remove that you have something missing. Furthermore if they didn’t p
by yepthatsreality 6y ago
They’re going to try. A lot of tech “benefits” revolve around quirky office space. When you remove that you have something missing. Furthermore if they didn’t press it, there would probably be an even greater collapse to the real estate market.
- thinkingkong 6y agoThere is no collapse in any real estate markets, at all.
- outside1234 6y agoI think he is talking about commercial real estate -- which very well might collapse.
- toomuchtodo 6y agoMidtown Manhattan RE is definitely seeing a contraction, as is retail across most of NYC. Can’t speak to California real estate, although my understanding is that several tech companies have paid large amounts (8 figures) to terminate leases early. “Collapse” I’d agree is too strong of a word, but there is clearly distress in some RE asset classes.
- deleted 6y ago[deleted]
- thaumasiotes 6y ago> A lot of tech “benefits” revolve around quirky office space. When you remove that you have something missing. Trading one benefit for a different benefit is a pretty normal thing to do. If you can offer "work remotely", why would you need to offer "we have a quirky office"? > Furthermore if they didn’t press it, there would probably be an even greater collapse to the real estate market. ...so what? Why would the companies care? To the extent they rent offices, that's just a huge, unalloyed benefit. To the extent they own extra offices and rent them out to other companies, sure, that's bad for the landlord, but that business model crucially depends on a bunch of other companies renting.