Too many damn companies lease. I would agree that the bulk of tech office space in a place like San Francisco is leased. Hell, even Salesforce is a tenant in Saleforce tower.
Sure, a handful of giants own their properties, but I would argue that a lot of the people asking to “return to the office” wouldn’t benefit from increased real estate prices. It drive up their leases when / if they renew.
Primarily0617@kbin.social 7 months ago
But the giants are the ones who set the culture for everybody else.
Also, a company might still have holdings/shares/whatever in funds that have invested in commercial real estate.
Ghostalmedia@lemmy.world 7 months ago
Sunk cost comes into play because we’re locked into a lease agreement for a predefined period of time, and we bought a bunch of shit to make the office work for us.