Office landlords struggling for tenants are facing an even scarier predicament — zombie properties

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[–]risistill me 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (4 children)

Let's see. The buildings are zombies because "the rent's too damn high."

I simply can't imagine what the solution might be.

[–]NetweaselContinuing the struggle 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (3 children)

Something something invisible hand of the marketplace?

[–]risistill me 1 insightful - 2 fun1 insightful - 1 fun2 insightful - 2 fun -  (2 children)

That invisible hand often slaps me in the face, but did you have anything more specific in mind?

[–]NetweaselContinuing the struggle 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

Just that the invisible hand should be slapping the Landlords in Question in the face about now....

[–]risistill me 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (0 children)

Zombie buildings is close to a slap in the face of a landlord. Seems they could duck it by lowering the rent, but I suppose it's more complicated than that.

[–]burritapal 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Ha! They can go fck themselves. Heaven forbid they give the unhoused a place to live.

[–]sdl5 4 insightful - 1 fun4 insightful - 0 fun5 insightful - 1 fun -  (0 children)

Now THIS class of landlords deserve every drop of pain and derision and financial destruction.

Not a ONE of them have any purpose beyond trying to squeeze small businesses and leverage larger ones to take as much of their operating funds and profits as possible right off the top, leaving nothing for employees, benefits, improvements, or even business owners.

[–]unagisongsBurn down Reddit! 4 insightful - 2 fun4 insightful - 1 fun5 insightful - 2 fun -  (0 children)

Gasp! How horrible they may have to meet demand at the price the customers are willing to pay! Parasite class don't what to do when they can't use capitalism to bludgeon customers into submission. Blaming this on CoVID is bullshit. Louis Rossmann extensively documented the zombie real estate situation in New York long before CoVID. These landlords had the money to let these buildings sit vacant and now they don't? Please.

[–]kingsmegLiberté, égalité, fraternité 5 insightful - 2 fun5 insightful - 1 fun6 insightful - 2 fun -  (1 child)

Good thing nobody was stupid enough to pay a record $1B for a NYC office building just a few years ago. Cause if someone did, they would be looking at a financial catastrophe.

[–]unagisongsBurn down Reddit! 5 insightful - 1 fun5 insightful - 0 fun6 insightful - 1 fun -  (0 children)

It's almost as if capitalism relies on fear, desperation and ignorance to function. Where the parasite class shift rugged individualism onto the majority while they comfortably amass wealth by privatizing the profits and socializing the losses. I thoroughly expect a TARP style bailout to save commercial real estate from their own medicine.

[–]RandomCollection[S] 7 insightful - 1 fun7 insightful - 0 fun8 insightful - 1 fun -  (0 children)

After being screwed over by landlords in the past, I don't have sympathy for the property management industry.