‘Zombie Offices’ Spell Trouble for Some Banks - The New York Times
This is the real reason for companies wanting people back to the office. All this talk about collaboration and team spirit is just the publicly given reason for wanting people back to the office. The real reason is that now the owners of the buildings are losing money. Cry me a river.
Let those banks burn. I could not care less. Let the corporate real estate market burn with em.
We don’t need them.
Didn’t you and I already debate this?
Your argument is no different than saying the stone chipping business will collapse because pesky bronze smelters are making swords.
A broad portfolio doesn’t have a particularly heavy real estate position. Maybe some state pension schemes are - I think you mentioned the Canadian one last one - but it’s not like the office buildings become worthless from one day to then other. Some will remain occupied offices, some will convert into residential accommodation. Others will get torn down and redeveloped. The economy will adapt.
1984
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leaskovski
phillaholic