Status of the Office Glut in Houston, San Francisco, Manhattan, Los Angeles, Chicago, Washington DC, Seattle by Wolf Richter • Jan 3, 2022 • 64 Comments Companies adjust their office footprint to working from home.
Trying to Make Sense of Economic Madness: Wolf Richter on Construction Disruption by Wolf Richter • Dec 21, 2021 • 106 Comments Many office buildings may become irrelevant, many malls already have. What does the future hold for once-flourishing buildings? Housing is a pain point for many people. Now we face higher interest rates and high inflation.
CVS to Close 900 Stores, Convert Others from Retail to Services, as Ecommerce Competitors Gobble up Pharmacy Revenues by Wolf Richter • Nov 19, 2021 • 103 Comments Brick & Mortar Meltdown Continues.
How Can an 11-Year Old Company Lose $844 Million on $661 Million in Revenues? WeWork Shows How, Having Lost $13.3 Billion on $10.6 Billion in Revenues in Less Than 4 Years by Wolf Richter • Nov 15, 2021 • 153 Comments It just doesn’t let up with this outfit.
House Flipper Zillow Seeks to Dump 7,000 Houses to Big Investors after Reports it Overpaid: Buy High, Sell Low, Take “One-Time Noncash Charge?” by Wolf Richter • Nov 1, 2021 • 187 Comments How Zillow helped whip house prices higher and got caught with its pants down (AI = artificial idiocy?).
The Mess of China’s Over-Leveraged Property Developers Spills into California by Wolf Richter • Oct 31, 2021 • 114 Comments Stiffed creditors in China and Singapore seized the halted construction mega-ulcer in San Francisco, the Oceanwide Center.
Why Walgreens is in Trouble in San Francisco and is Closing Some Stores: It’s Not Shoplifting, that’s an Artful Distraction from the Real Reasons by Wolf Richter • Oct 23, 2021 • 234 Comments Caught up in the brick-and-mortar meltdown, it faces its own botched decisions and a market that has horribly turned against its pharmacies.
Apartment Conversions from Old Office Buildings, Hotels, Factories: The Numbers by Wolf Richter • Oct 11, 2021 • 84 Comments A costly slow process that gives some buildings a second life.
Office Slump Gets Even Uglier in Q3: Houston, San Francisco, Los Angeles, Chicago, Washington DC, Seattle, Manhattan by Wolf Richter • Oct 4, 2021 • 77 Comments But tenants have choices and negotiating power.
Red-Hot Rents to Fire Up CPI Inflation Just When “Temporary” Is Supposed to Unwind It by Wolf Richter • Sep 27, 2021 • 142 Comments Asking rents spiked 10%-25% in half the cities. Rents fell in only a few, incl. -25% in San Francisco from 2019 peak.
