this post was submitted on 15 Aug 2023
355 points (97.1% liked)
Asklemmy
43856 readers
2232 users here now
A loosely moderated place to ask open-ended questions
Search asklemmy ๐
If your post meets the following criteria, it's welcome here!
- Open-ended question
- Not offensive: at this point, we do not have the bandwidth to moderate overtly political discussions. Assume best intent and be excellent to each other.
- Not regarding using or support for Lemmy: context, see the list of support communities and tools for finding communities below
- Not ad nauseam inducing: please make sure it is a question that would be new to most members
- An actual topic of discussion
Looking for support?
Looking for a community?
- Lemmyverse: community search
- sub.rehab: maps old subreddits to fediverse options, marks official as such
- !lemmy411@lemmy.ca: a community for finding communities
~Icon~ ~by~ ~@Double_A@discuss.tchncs.de~
founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
I think you're attributing far more coordination to these guys than they're actually capable of.
There doesn't have to be coordination if there's incentives.
It's like how so many people who drive cars act in ways that benefit cars and is counterproductive for those who don't drive. They want plentiful free parking, lots of lanes, and cheap gasoline. They're not particularly coordinated. They're just incentivized because of their position. They benefit from those kinda things, so gravitate towards them (and also don't oppose them).
I don't think there's some shadowy Illuminati organisation behind it. They are pretty blatent when they manipulate things.
That said, I do think there are a lot of investors and analysts that have come to the same conclusion and are talking to each other and passing info to their clients.
Well, maybe you know something I don't, but I'd expect most rich guys would be happy to save on office costs for themselves while still collecting rent from other rich guys, if they were personally okay going remote.
Sure, but if everyone who can goes remote, all that rent money dries up. Most also don't directly own buildings to rent, but rather have investments in companies that do. If those other companies go under then they lose money on investments. I don't have any inside knowledge though, this is just the conclusion I've been able to come to. Other than just being control freaks.
What I've learned from following cryptocurrencies is that people don't need intentional coordination to be affected by the reality-distorting bias of their investments. If someone has bought a narrative about why the thing they invested in has value, when faced with evidence that this narrative may actually be wrong, most of them aren't going to be sophisticated enough to think "Well that's a strong argument, I guess it would be in my interest to pretend that it's false while privately defecting". Instead they are going to want to dismiss it outright, shit-talk everyone disagreeing, and throw more money/time/effort in the hole. Being financially invested in something messes with your emotions like that.
Basically I think that being invested in commercial real estate is likely to make someone actually believe any ideas that imply that commercial real estate has value, even if they are bullshit.