this post was submitted on 26 Feb 2024

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Troubled Commercial Real Estate Loans Outstrip Reserves at Top US Banks (www.businessinsider.com)

submitted 7 months ago by naturalgasbad@lemmy.ca to c/worldnews@lemmy.ml

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[–] czardestructo@lemmy.world 3 points 7 months ago* (last edited 7 months ago) (1 children)

Bingo. My company sub-leased some downtown office space to get out of it and will bail on it completely in about 5 years when the lease expires.

[–] Ghostalmedia@lemmy.world 2 points 7 months ago

Yeah, same story for my company and just about all of my friends with white collar jobs. Most offices that lease property are downsizing and consolidating their spaces. Most of the people trying to use their offices are the big tech giants who actually built and own their campuses outright. Everyone else just sees a giant waste of money for very little productivity gains.