Lyude🌹#BLMJun 10
Normally I don't like when I predict the future correctly but this time it actually ended up being good for once.
https://www.cnn.com/2023/07/13/investing/remote-work-impact-real-estate
Basically exactly what I said is happening - remote working trends are making it look like that rent might FINALLY start actually going down. And good.
Anything that gets lost in the cities from this is frankly nothing of value. In Boston, we've had so many actually important places in Boston close down due to rent costs, only to be replaced by bougie soulless copy-pasted restaurants and luxury apartments. We've had numerous queer venues close down (not all of them because of the rent, mind you) and dozens of actually beloved restaurants close from how high the rent has been
Working from home could wipe $800 billion from office values globally

Remote work risks wiping $800 billion from the value of office buildings in major cities worldwide by 2030 as the post-pandemic trend pushes up office vacancy rates and drives down rents, according to a new report.

CNN
Demi Marie Obenour3d ago
Show threadLyude🌹#BLM
The economy of a city should not be reliant on businesses with office buildings. It should be reliant on the actual people who are living in the actual city. Living in the city shouldn't be some magic privilege only afforded by the wealthy. All an economy like that does is destroy anything unique in your city in a desperate attempt to appeal to people with too much money whose only reason for being in the area is to go into the office five days a week and do something that doesn't require them to actually be there.
Meanwhile literally everyone around gets fucked over by infinitely rising rent costs.
I'm glad money is being lost from this, I'm excited for what's going to be left because it'll be a hell of a lot better then this
Jun 10 at 10:03pmWeb