this post was submitted on 10 Sep 2023
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Antiwork
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We're trying to reduce the numbers of hours a person has to work.
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We talk about the end of paid work being mandatory for survival.
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Apparently people who own companies and people who own commercial real estate are the same people.
People love to live around those things. If lower office space is affecting landlords, they could always convert their properties into affordable housing
Sewage is significant hurdle to convert Office to Residence.
Yes, but the building codes differ massively between commercial and residential. In most cases the entire building would need to be torn down and rebuilt.
Plus the financial models are very different. Commercial properties like office towers are bought on the basis of their lease values, whereas residential buildings are based off of individual sale values. This can mean commercial property can diminish massively in the face of reduced demand.
The best demonstration is the St Louis AT&T Tower story