Comment on Microsoft tries to dump S.F. office space amid tech industry cost-cutting

qooqie@lemmy.world ⁨1⁩ ⁨year⁩ ago

• SinningStromgald@lemmy.world ⁨1⁩ ⁨year⁩ ago

  A collapse of commercial real estate will do far more than bankrupt some landlords.

  source

  • masterspace@lemmy.ca ⁨1⁩ ⁨year⁩ ago

    Yeah, it will also lead to more vacant space in highly desired downtown cores that can be turned into residential units.

    source

    • ramble81@lemm.ee ⁨1⁩ ⁨year⁩ ago

      Honestly that’s always been a core problem of American cities vs other countries and part of what increases our car dependency. Other countries have mixed use urban areas that are resilient if one type is doing bad, whereas American cities have large divisions (housing, business, commercial) all separate, when there is a seismic change it leaves large sections of the city hurting.

      source
    • Not_mikey@lemmy.world ⁨1⁩ ⁨year⁩ ago

      Which will collapse the residential market with a supply glut. Which in SF might be a good thing.

      source
    • CADmonkey@lemmy.world ⁨1⁩ ⁨year⁩ ago

      Inb4 “BuT tHaT’s ToO eXpEnSiVe”.

      It’s not a valid excuse, to be sure, it’s just the most common one I see.

      source

      • Ashyr@sh.itjust.works ⁨1⁩ ⁨year⁩ ago

        It is a non-trivial process. Commercial offices and residential apartments have very different code requirements.

        I’m all for doing it. I work from home myself and don’t know that I’ll ever take a job that requires a commute if I can help it.

        We should be realistic about it, however, and acknowledge that it’s not as simple as throwing up a few walls and doors and calling it a day.

        source

        • -> View More Comments
    • SinningStromgald@lemmy.world ⁨1⁩ ⁨year⁩ ago

      Oh, I know there can be some good from it, I doubt it but it’s possible (the NIMBY is strong), but a collapsed commercial real estate market will have knock on economic effects elsewhere. Think housing bubble bad but maybe worse. Remember, before COVID, commercial real estate was essentially a “sure thing” investment wise. Everyone needed a job and every job needed a place for said job to be done. Now…now we all know for sure what we all suspected for years previously: we didn’t need to go to an office to do our jobs.

      I am in no way supporting landlords or anything. In fact I’m firmly in the “no one gets two until everyone has one” camp for housing along with removing the ability for companies to own single family housing. Just being a realist is all. And a pessimist.

      source
  • Exusia@lemmy.world ⁨1⁩ ⁨year⁩ ago

    I know! Can’t wait.

    source
  • Squizzy@lemmy.world ⁨1⁩ ⁨year⁩ ago

    Things I couldn’t give a fuck about

    source