this post was submitted on 27 Feb 2024
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traingang

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LANDLORDS COWER IN FEAR OF MAOTRAIN

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https://fortune.com/2024/02/25/office-commercial-real-estate-crisis-doom-loop-conversion-housing-subsidies-demolition/

“At the end of the day, I think the problem is that we have too much office relative to our future needs, and a lot of places have too little housing. So I think one way or another, we’re going to have to turn some of that office space into apartments,” said Van Nieuwerburgh. “That might have to partially happen through demolition. But it would be nice if we could have at least some of it through conversion. It’s sort of the environmentally friendly way to go.”

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[–] FumpyAer@hexbear.net 33 points 8 months ago

Holy fuck these people are dense. Communists and urban planners have been screaming this from the rooftops for 30 years.