> I wonder what will happen in SF/NYC when more of the office leases have expired and the corporate property tax base erodes? Large metropolises will manage po

> I wonder what will happen in SF/NYC when more of the office leases have expired and the corporate property tax base erodes? Large metropolises will manage potential budget shortfalls how they will. More importantly, after large commercial leases expire, commercial property owners and their management companies will adjust their commercial rents until companies and institutions find value. While some concerns go remote-only, others will implement hybrid or even full RTO. The price and associated tax revenue on these commercial leases will stabilize and, more than likely, increase as the economy increases. The expiration of corporate leases will not usher municipal financial apocalypse as many observers seem to speculate. Rental market corrections unavoidably will lag pandemic economic contraction (leases take time to expire) and such contractions hardly signal the end of commercial and corporate interests in renting urban real estate.