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For landlords it is a massive shift, many of these office jobs are simply not coming back. I know companies who have downsized office space after the pandemic,
by llampx 4y ago
For landlords it is a massive shift, many of these office jobs are simply not coming back. I know companies who have downsized office space after the pandemic, and others who wish they would have done that since they have a ~10-20% occupancy rate on a weekly basis.
It is really too bad that zoning and the construction of the towers prevents them from being transformed into housing, be it affordable/subsidized or not.
- SQueeeeeL 4y ago> It is really too bad that zoning and the construction of the towers prevents them from being transformed into housing, be it affordable/subsidized or not. Yeah, America is actually crazy with it's zoning. It's interesting to think how different and more healthily laid out the country would be if zoning didn't constrain every single building. But pretty soon all real estate will be owned by BlackRock and Berkshire Hathaway, so who knows what the future of land use and ownership is going to be like.
- bamboozled 4y agoBut pretty soon all real estate will be owned by BlackRock and Berkshire Hathaway, so who knows what the future of land use and ownership is going to be like. What ?
- SQueeeeeL 4y agoA lot of land in America is slowly being concentrated into the portfolios of large multinational corporations. And unlike more traditional entities, these corporations have no reason to sell except total bankruptcy.
- alpineidyll3 4y agoIt's actually the tax write offs for vacancy which have shelled out American cities. I wouldn't expect them to go away anytime soon though.
- bamboozled 4y agoWhat would be pretty cool if having housing and office space in one building. So I could go to level 2 for work and live on level 14 for the views and hit the gym in the basement. The office on level 2 might be my be my own personal office but yeah :)
- picsao 4y ago