The research firm’s top property economist likens the decline in office demand to what malls have experienced over the last six years—and sees a similar outcome.

    • Kichae@kbin.social
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      1 year ago

      While coverting offices to living spaces would be good for cities, there’s no lack of living spaces.

      There’s just a glut of dragons hoarding them.

      • QHC@kbin.social
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        1 year ago

        No idea if this is a common turn of phrase or your invention, but I love the “dragon” reference. People get so upset when I tell them we should “eat the rich”, but not even Gaston is against killing dragons that are hoarding the village’s wealth and killing our children!

        • argv_minus_one@beehaw.org
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          1 year ago

          People get so upset when I tell them we should “eat the rich”

          And then they vote for genocidal fascists without feeling the slightest pang of conscience. Honest libertarian pacifists, they ain’t.

          • Turkey_Titty_city@kbin.social
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            1 year ago

            that’s because murdering and killing the poor and dark skinned is completely morally acceptable.

            but killing one white billionaire is a unacceptable tragedy.

    • sadreality@kbin.social
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      1 year ago

      It is possible to retrofit but as u/dismalnow points out zoning is a big issue but there is also issue of economics. These building need to be sold at a steep discount for redevelopment to be economically viable. This requires that current owners book their losses and sell but they won’t until they can’t refinance, first wave is due 2024-2025. Many bagholders will have to face the music, let’s see what they will do. I am sure smart developers are already stacking cash for deep value shopping. With that being said many Class B/C office towers are utter trash to a point where it is more economical to just level them. I don’t know why local governments allowed them to be built…