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I recall being at a talk by an urbanist doing an analysis ~2018 showing heat signature of a global subprime real estate boom by hedge funds/PE/oligarchs etc. If they’re left holding the bag here a) they deserve it b) should not be bailed out c) are using small biz for cover
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Replying to @vgr
Have noticed this as well. It’s weirdly hard to find vacancy data and everything I find seems to point to steady and continued rise in vacancies. Also liquidity for these office buildings seems to be unavailable
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I’m not doing a bit here. I’m normally very anti-conspiratorial and suspect conspiracy types of crediting their boogeymen with way too much power and intelligence. But this is a special case. Commercial real estate is highly concentrated and financialized. Smells like a rat here.
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You don’t need secret sex parties by Eyes Wide Shut elites for thus. You just need an investor nudging an editor here, an editor commissioning a Gladwell there, an op-ed section that’s a crony club. A politician with a board seat somewhere and a pro-small-biz campaign…
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Older Gen X and Boomers managers have also gotten lazy managing for decades a certain way and don’t want to change or give up corner offices, holding court, etc. Even without a hard financial stake in real estate, it’s more convenient to side with them than learn new skills
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Damn. Maybe I should try to buy an office property instead of a house. Though I doubt my mortgage approval will carry over 😬
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Exhibit C. Notable that the keynoter set is at the forefront. They don’t have much of a career without speaker circuit economy on top of office economy. What do you want to bet the headliner keynote crowd is 95% against WFH? Hard to command $$$ speaking fees for virtual keynotes.
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Replying to @vgr
I feel this is becoming a real movement now amp-cnn-com.cdn.ampproject.org/c/s/amp.cnn.co
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