@drahardja I hear this so much, and I don't really doubt it, but I'm not sure I understand the mechanism. Why does my employer want to bail out their landlord?
@abarker If you work for a large company, your employer has real estate investments too! I bet they have some investment that will be negatively affected by a collapsing CRE market, directly or indirectly.
Heck, I bet my stock portfolio will take a dive somehow. It’s all connected.
@drahardja I can’t be the only one who’s noticed we’re in the midst of an extreme housing crisis. Why the hell aren’t they being converted to residential properties? My last condo was a retrofit and it was amazing - freight elevator, good soundproofing, emergency generator, four passenger elevators, industrial-grade HVAC…. They’re twits for not planning this during the pandemic, and governments are missing the boat by not requiring family-sized affordable housing in retrofits.
@JustinDerrick Aside from the zoning rules (which should be adjusted ASAP) some office buildings are more easily converted than others. Older buildings, ironically, are more easily adapted. Newer buildings made after air conditioning and elevators are prevalent are harder to convert because they tend to have large interior volumes without access to windows. Blocking off the core of a tower (like the transcript mentions) is one way to get around that problem.
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