38 sats \ 2 replies \ @hodlpleb 6 Feb \ on: What Will Happen to Empty Office Space? econ
Wild guess...
- Eventually see a lot of defaults on those buildings
- Then they get re-purchased at low prices
- Probably drives down real estate prices overall
Then maybe they get rehabbed into low-income housing?
(I don't see why rational suburbanites would want to move into the cities en-mass, combined with population decline over the next several decades)
Probably drives down real estate prices overall
i think this is probably correct, but is there a possible outcome where commercial property drops and residential property goes up?
since most commercial space isn’t designed for residents, i wonder how large of an investment would be needed to actually convert these units into a new use case… might not be worth the cost unless losses on commercial get really extreme.
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I agree, repurposing/retrofitting will cost a fortune. It's a major pain.
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