https://archive.is/2022.02.14-202112/https://www.economist.com/finance-and-economics/the-true-cost-of-empty-offices/21807703

Rather than lowering rents, landlords are offering more freebies than ever to retain tenants or attract new ones. In Manhattan, cash gifts for tenants—typically used for kitting out new office space—have more than doubled since 2016. Across America, the average number of rent-free months has risen to its highest since 2013. Some property developers remain optimistic, betting that demand for office space will eventually bounce back. But with each new variant of covid-19, plans for a wide-scale return to the office have been delayed, and delayed again. And changing patterns of attendance look set to reduce the overall demand for space.

  • Koa_lala [he/him]
    ·
    3 years ago

    We actually have a problem here that there are way too many giant vacant offices just occupying space where people could live. To the point where office space is dirt cheap, but housing is insanely expensive. But this has even been a problem before covid.

    • invalidusernamelol [he/him]
      ·
      3 years ago

      There are a dozen huge homes (like 4+ bedrooms) going for $1200/month in my area while a studio apartment starts at $1600 because they're zoned commercial and the landlord took out some of the bathrooms.

    • CopsDyingIsGood [he/him]
      ·
      3 years ago

      office space is dirt cheap, but housing is insanely expensive

      E F F I C I E N C Y

    • SacredExcrement [any, comrade/them]
      ·
      3 years ago

      Watching homeless people camped out in front of a derelict building in the winter (rather than inside of it) :honk-enraged: