3 ms·
>It's insane how many employers are forcing employees back to the office because they refuse to let go of their pre-covid building leases. There's so much mone
by vlan0 4y ago
>It's insane how many employers are forcing employees back to the office because they refuse to let go of their pre-covid building leases.
There's so much money tied up in commercial real estate. It feels like a complimented mess. Just look at NYC. Building owners will let units sit vacant for years rather than lower rent costs. Which then lowers building value, etc.
- smith7018 4y agoTo be fair, that's because NYC's laws are extremely favorable to building owners. A less owner-focused city would presumably tax businesses that are left vacant after X amount of months or years to push the owners to lower rents or sell.