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- cross-posted to:
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Microsoft tries to dump S.F. office space amid tech industry cost-cutting::px-captcha
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Now all companies should cut their office costs because I sure as shit ain’t going back to office. It’ll also help bankrupt some landlords (I hope)
A collapse of commercial real estate will do far more than bankrupt some landlords.
Yeah, it will also lead to more vacant space in highly desired downtown cores that can be turned into residential units.
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.
Which will collapse the residential market with a supply glut. Which in SF might be a good thing.
Inb4 “BuT tHaT’s ToO eXpEnSiVe”.
It’s not a valid excuse, to be sure, it’s just the most common one I see.
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.
You’re right, there’s more to it than hanging extra doors. It’s going to cost money, which was my original statement, owners won’t do the renovations because it’s “too expensive” and keeping the status quo is cheaper.
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bim/CAD manager
My condolences.
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.
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I know! Can’t wait.
Things I couldn’t give a fuck about
More companies should do this. The whole trend of companies building big campuses is so stupid and a waste of money and real estate.
These places are beautiful. They should be opened to the public. Or maybe we should fund the parks system to create something similar.
I think there are upsides and downsides to them, and I’d much rather work at and have to look at those, rather than miles and miles of soulless business parks or high rises, especially in areas where real estate isn’t at a premium.
Finally dumping something worth dumping.
Such a weird interplay of land vs human capital. Like a company can afford either to fuck around with one cost, say expenses aligned toward real estate and all the trappings of a fancy office, or people…
Both together just seems too much…
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Dump it and build public housing to accommodate their labor demand instead of useless and wasteful structures, the office needs to die.
