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As they should, propping up commercial real estate (and by extension housing) isn't in anyone's interests besides the investment class who pushed out the small
by Melting_Harps 4y ago
As they should, propping up commercial real estate (and by extension housing) isn't in anyone's interests besides the investment class who pushed out the small businesses during COVID closures for failure to make payments. They saw massive spikes in value on their holdings and overall portfolio but now that the interest rate hikes have cooled the housing and real estate market a bit they want to justify these inflated costs by forcing people back into the office instead of seeing sensible price corrections.
Personally speaking, and with Adam Neumann's new move and VC funded warchest, I'm convinced the real estate market will sooner self-cannibalize itself instead of correcting to a pre-2008 bubble mania and they are throwing anything they can to prop it back up by forcing back in office and making them re-inflate all the surrounding housing options. The truth is that after the layoffs they cannot spare losing more talent, so calling their bluff is really more a calculated risk and the worst case scenario is taking a few more offers via Linkden more serious this time around.
If they and the entire tech Industry stand their ground then we might have a chance at making it a norm because right now it's still incredibly shaky, and the truth is that it's foolish to even explore given how much unnecessary GHG is produced from commuting.