3 ms·

This explains the RTW push.

• theandrewbailey 3y ago
  Every time I've heard someone say "we need to go back to offices", I wonder how much money they have in commercial real estate. Businesses always want to cut costs (shareholder returns and whatnot), and office space is a large cost that has proven to be largely unneeded. But an executive telling the public at large to go back to offices is overreach.
• dehrmann 3y ago
  Not really. If you rent, letting you lease expire is cheaper. If you own it outright, you'll pay less in upkeep for an unused building and less in property taxes. If you borrowed money and are under water, you can walk away and save money. The only companies who care are ones who were already thinking about selling the real estate. And commercial real estate companies. Spotify leases floors in 4 WTC until the end of the decade, so it's a sunk cost. They're paying regardless, but it's cheaper if it's vacant since there's less janitorial work, electric, etc.