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This. There will be massive consequences for those holding commercial real estate if companies stop paying those insane rents. Also, cities will suffer (at lea
by tnel77 5y ago
This.
There will be massive consequences for those holding commercial real estate if companies stop paying those insane rents. Also, cities will suffer (at least in the short-term) if property taxes drop from those properties losing value. They are definitely afraid of remote work and the changes it will bring.
- BlargMcLarg 5y agoI doubt cities will suffer that much. Yes, companies and company rents are a huge part, but we don't exactly have a lack of people who want to live in the city as is. It also depends on the location and site: most offices I see available here cost far less than the equivalent room/apartment. Also creates a lot of jobs for builders and the likes to modify these offices.