Drunk with Easy Money, companies were hogging office space and workers for a future that did not come.
What this means going into the slowdown.
BART was already “facing a fiscal cliff” after working from home and driving to work caused revenues to collapse.
What? Old-school offices work better than WeWork playpens? Reinstalling private offices in the growing legions of ghost buildings may be worth a try.
“Expect more distress from some owners as loan defaults and relinquishing of assets could increase going forward.”
Office construction wobbles along at much lower levels, amid a glut of vacant offices.
The giant’s footprint reduction to cut costs sinks Commercial Real Estate.
Last time it tried to sell the building was in 2019. Now the office market is an entirely different ballgame.
Starts: Single-family houses: -18.8% year-over-year; larger multifamily buildings: +15.9%. Here are the long-term trends.
“There’s almost no liquidity in the office market. No one knows where pricing will be when one of these towers finally sells.”