The former is an organic workplace diversification; the latter is the breakdown of the commercial real estate marketplace with unfathomable consequences for the American economy.
At the larger level, while office-based businesses may save money, turning downtowns into ghost towns can destroy the entire human infrastructure supporting all the offices and their workers.
The result of all this is that commercial real estate is empty.
Commercial real estate has become a debt timebomb, experts have warned, as office towers remain empty in once-bustling cities.
According to building security company Kastle Systems, only about half of office workers in the Big Apple are back at their desks.
A joint study from researchers at New York University and Columbia University found that offices in the city will lose 44 percent of their pre-pandemic value by 2029 because of the impact of remote work.
In 2008, with the home real estate collapse, the American economy still had some resilience.
https://www.americanthinker.com/blog/2023/06/the_coming_collapse_of_commercial_real_estate.html
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