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I think a lot of the impetus to return to offices is the corporate real estate market. If corporate real estate tanks, then companies that own offices will take
by foxyv 3y ago
I think a lot of the impetus to return to offices is the corporate real estate market. If corporate real estate tanks, then companies that own offices will take a huge hit on their valuation and possibly affect the secured credit based on those offices. In addition to all the other investors who've paid these billion dollar atrocities of beige and concrete.
- voisin 3y agoA lot of public and private pension plans are also invested in real estate. It isn’t just rich investors - a lot of regular folk too. I am all for progress but I think a gradual change allows for the economy to shift without destroying people. These major sudden changes cause unnecessary pain.
- foxyv 3y agoTo be honest, I don't see why these workers should have to sacrifice themselves at the alter of the stock market or private investment. Why do they have to subsidize someone else's pension plans?
- voisin 3y agoI think for the same reason unemployment benefits and other social programs exist for which we pay taxes and otherwise contribute to and benefit from. Society is better off when things happen thoughtfully and somewhat gradually and no one group is made to bear the brunt of a sudden, impossible to forecast negative event.
- foxyv 3y agoIf the pension plan is public for everyone, then everyone should contribute to it. If the pension plan is private, then the people who benefit from that plan should contribute to it. Asking someone else to contribute to a pension plan that only benefits my cohort isn't right. Especially when they themselves do not have such a plan that I pay into. This isn't some public good. This is another example of privatizing the upside and socializing the downside.