https://fortune.com/2023/05/25/office-space-crash-harder-than-expected-remote-work-economy-cre-crash/
“The key takeaway from our analysis is that remote work is shaping up to massively disrupt the value of commercial office real estate in the short and medium term,” the authors wrote.
:sicko-hexbear:
The authors found that higher quality buildings, a.k.a. buildings with higher rents that were built more recently, “appear to be faring better,” which they claim is consistent with the notion that companies have to improve office quality for workers to want to come back.
:porky-scared-flipped:
They aren’t built in a way that that works. Refitting the plumbing is nearly as expensive as building a whole new building. And that’s if you can solve the “apartments need to have windows” problem
Let people do a lot of that work on their own time and dime and it will be done. Plenty of squats converted office buildings.