Often they are highly leveraged and funded with no recourse debt. If they can't pay the mortgage without low vacancy at high rents, there's no point to lowering

Often they are highly leveraged and funded with no recourse debt. If they can't pay the mortgage without low vacancy at high rents, there's no point to lowering rents. Low vacancy and low rents still ends up with the landlord losing their entire investment and the bank owning the building.