Another Angry WomanMay 18, 2023

We are now three years into the shift from office working to hybrid/home-based and the only strategy commercial property developers have is paying for advertorials bleating about how everyone should work in offices rather than idk pivoting their model.

Capitalism is not a driver of innovation, or they'd have fucking innovated.

Show threadAnother Angry WomanMay 18, 2023
During the @vagina_museum property search, we saw the sheer *quantity* of developers who owned completely empty office buildings with no chance of it ever being an office choose to have no money rather than a cultural organisation, because they are holding out this wild hope that some day everyone will magically adopt primary office work again, which just isn't going to happen.
Show threadEniko (moved ➡ gamedev.place)
@stavvers @vagina_museum ah so they've chosen bankruptcy? Idk I feel like that's the best outcome for landlords
May 18, 2023 at 10:52amWeb
Show threadAmo Bishop RodentMay 18, 2023
@eniko @stavvers @vagina_museum I mean, it's the best outcome that doesn't involve guillotines
Show threadEniko (moved ➡ gamedev.place)May 18, 2023
@pikesley @stavvers @vagina_museum 🤔​ fair
Show threadTerryBMay 18, 2023
@stavvers @eniko @vagina_museum In the crazy world of corporate finance, as I understand it, book value is more important than real value if they tried to realise it. Schrodinger's Investment. It's value only collapses when you measure it.
Show threadwb x64Jun 13, 2023

@terryb @stavvers @eniko @vagina_museum this is precisely what happened to many downtowns during the '08 crash. They'll write off your entire city for a decade if they have to, it's better than taking an actual loss, they're a multinational firm with lobbyists they don't care.

The way to combat this is with a vacancy tax. Vacancy is blight. Even if it's a pittance, city taxes are so annoying that they become incentivized to rent it out for less.