https://fortune.com/2023/08/03/michael-bloomberg-billionaire-return-to-office-federal-agencies/
Empty offices are a problem that could result in another run on the banks, some economists have warned, with swaths of new office buildings financed on short-term loans with no leases taken out to pay for it. Morgan Stanley estimates that $1.5 trillion in commercial real estate loans are due to be repaid by 2025.
With 176 offices across the world—some of which cost more than $1 billion to build—it’s perhaps not a surprise that Bloomberg is keen to get his own staff back through the doors, a sentiment echoed by JPMorgan CEO Jamie Dimon.
There is none, it’s being astroturfed by commercial real estate interests.
The non-financial “intangibles” are what these ghouls actually claim but it’s purely ego, they like strolling through an office full of people and thinking “I have control over all of them”