The CEO is selling that $20 billion valuation to a lot of smart, rich guys. But WeWork’s entities are known as SPE’s (“Screwing Probably Expected”), and landlords will be the first to go down.
To quote Ringo Starr, “I’m certain that it happens all the time.”
The lowest hanging fruit of them all: Airbnb and its ilk.
Insider view on how to deal with the Housing Crisis in California.
“We are faced with weekly tenant bankruptcies, defaults, and requests for rent or space reductions.”
As long as local officials strangle housing starts, the mirage of affordability will be pushed further toward the distant horizon.
“The Only Free Cheese is in a Mouse Trap.”
That retail is overbuilt is obvious to anyone who has driven 20 miles in America. Less obvious is the why of over-building.