Hard to imagine not being able to sell housing and space in San Francisco.
The Next Crisis Will Start With Empty Office Buildings
Commercial real estate is losing value fast.www.theatlantic.com
Office vacancy rates in SF are as high as 25% right now. And that's just unleased space. As leases come up for renewal it likely will get worse. Pretty hard to be an investor in office space in that environment other than at cut rate prices.
The Next Crisis Will Start With Empty Office Buildings
Commercial real estate is losing value fast.www.theatlantic.com
Office vacancy rates in SF are as high as 25% right now. And that's just unleased space. As leases come up for renewal it likely will get worse. Pretty hard to be an investor in office space in that environment other than at cut rate prices.
Our company built out two floor office in seven story building a couple of years before Covid. I'd guess most days we might have 20-30% of our workers in the office. Hard to justify maintaining all that space when so many people work from home part of the week. And the Twin Cities are not a horribe metro in terms of drive times.My building in Atlanta has essentially given up. Deloitte just left for Midtown. They’ve shuttered the cafe and coffee shop and are relying on food truck pop ups.
I think you should be worried about what this type of thing can do more generally to the economy.I feel so bad for the investors.
I think you should be worried about what this type of thing can do more generally to the economy.
What could this type of thing do that would materially affect my lifeI think you should be worried about what this type of thing can do more generally to the economy.
1-2 trillion in debt with collateral values that are cut in half would be a credit crisis impacting small to medium sized banks. That's not good for anyone.What could this type of thing do that would materially affect my life
How would that materially affect my life1-2 trillion in debt with collateral values that are cut in half would be a credit crisis impacting small to medium sized banks. That's not good for anyone.
Given you're a beach bum, no impacts.How would that materially affect my life
Because our economy is based on maximizing gains and minimizing losses for whatever shit wealthy people get themselves into and making the rest of us suffer for it.1-2 trillion in debt with collateral values that are cut in half would be a credit crisis impacting small to medium sized banks. That's not good for anyone.
Because our economy is based on maximizing gains and minimizing losses for whatever shit wealthy people get themselves into and making the rest of us suffer for it.