There have been a lot of recent articles/reports warning about gloom and doom in commercial real estate, and its consequences on the economy. I wonder if the recent RTO mandates (first Meta, now Google, among the largest companies) are reaction to it. Maybe they were encouraged by the govt / various investment firms / etc?
It's not just office real estate either. Businesses and restaurants operating in these spaces are probably struggling too. Downtown Denver used to be somewhat nice but now it's all homeless and tourists since so many people are staying home
Denver looks so blah that I can't imagine looking nice ever.
I thought big employers like Meta and Google own most of the campuses and buildings. I can see how RTO might affect leases. Unless they are getting something in return why would these companies care if remote work saves them money and is equally effective?
If they own property and it’s only used to 10% capacity they need to sell it or lease the remaining space, it doesn’t make sense to own giant empty buildings
For sure some large blackrock type firms are forcing Google activist investors to put pressure on Alphabet to get butts in seats so fix the declining commercial real estate market. I would not be surprised if Biden and White House themselves were pressuring big companies. Biden mentions how we need to get people back in cities. All part of the plan
Tech Industry
8h
2041
Asians - what are your thoughts on asian female white male ?
World Conflicts
Yesterday
507
American police seem to work only when Israel is challenged
India
2h
203
Voted for dictatorship. Voted for modi. F*CK Congress.
Tech Industry
Yesterday
2816
I am starting to think Chinese interviewers currently fail non-Chinese candidates on purpose.
Tech Industry
Yesterday
3732
Crossed a line with my boss
London breed, major of sf came to a sf happy hour and spent the majority of the time trying to sell us to come into the city and spend more. It was cringy and desperate.