this post was submitted on 16 Nov 2023
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McKinsey said cities could adapt to the declining demand for office space by “taking a hybrid approach themselves,” developing multi-use office and retail space and constructing buildings that can be easily adapted to serve different purposes.

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[–] [email protected] 15 points 9 months ago (1 children)

Too bad it's not doing the same to Residential Real Estate. Seems like every country around the world is getting absolutely fucked by old people.

[–] [email protected] -3 points 9 months ago (3 children)

No they're not. It's a complex and multi-facetted answer that people don't like hearing.

  • Immigration
  • Poor zoning
  • AirBNB
  • Speculative real estate

Could go on and on

It's all poor planning coupled with abject greed and on those points we are all guilty.

But of course everyone wants to point a finger at one simple person.

[–] Jax 11 points 9 months ago

Millenials own around 4% of the wealth in the U.S.

The younger generations have less.

Dunno what you see that as, but I see it as older generations having too much money. That means they're a problem.

[–] [email protected] 4 points 9 months ago

Airbnb and Speculative Real Estate, sure, but in the US, Canada, and the Central EU countries, all the existing real estate is largely owned by the older Baby Boomer generation and their kids. Millennials have zero chance to buy any of that due to their lower ownership of total wealth in these areas, and the speculative pricing BS that is overvaluing the entire market BECAUSE of bullshit like Airbnb potential being factoring. It's a losing proposition.

[–] [email protected] -3 points 9 months ago (1 children)
[–] [email protected] 1 points 9 months ago (1 children)

What do you mean by this? I think they're correct, partially because what they said is so broad.

[–] [email protected] 2 points 9 months ago (1 children)

Just making a joke lol is really not that deep.

[–] [email protected] -1 points 9 months ago (1 children)
[–] [email protected] 3 points 9 months ago (1 children)

One guy blaming "the old people" and the one coming to their "defence" being one of them. Idk man is really not that deep

[–] [email protected] -1 points 9 months ago (1 children)

What makes you think the person you responded to is old? How old do you think they are? How old are you?

[–] [email protected] 1 points 9 months ago (1 children)

I hope you're gonna be better :)

[–] [email protected] 0 points 9 months ago (1 children)
[–] [email protected] 2 points 9 months ago

It's a joke, not an academic paper. You do not have to like it.