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The office real estate crash will be so sharp and deep that Capital Economics thinks office values are unlikely to recover by 2040 (fortune.com)

submitted 1 year ago by Girlparts@kbin.social to c/news@kbin.social

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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.

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[–] kestrel7@kbin.social 17 points 1 year ago

Some countries have actually legalized squatting in certain situations (like if a building is long term empty) to put some fire under the landlord’s ass to either find a paying tenant or sell. And honestly I think it’s an inelegant but effective solution.

It’s not productive to have real estate units sitting empty in the middle of the city and we simply shouldn’t allow it.