3 ms·
I hate the framing of this. It's so click bait and sensational. Remote work isn't wiping it out. Decreased demand for office space, with a ton of supply on mark
by revlolz 3y ago
I hate the framing of this. It's so click bait and sensational. Remote work isn't wiping it out. Decreased demand for office space, with a ton of supply on market, and owners wanting to make antiquated leasing agreements are ignoring the market/reality. They are refusing to adapt to modern needs are seeing easily anticipatable economic outcomes as the consequence. It's not simply "remote did this" when the problem is greedy investors can't cope and refactor. Their target market's core consumer (employees of their renters) have unequivocally made it clear they do not want to go into offices or be bound to failing cities just to please a company that will lay them off or not take care of them (use any of the dozens of reasons employees don't want to rto or be forcibly relocated anywhere). I don't feel a shred of pity for impacted businesses or investors if these offices just as I wouldn't feel sorry for an investment group pouring millions into horse infrastructure in the early days of the automobile.