[fwdude]

I’m in Ft Worth and the central business district construction rate is insane. Most of the new construction is residential high-rise and medium-rise apartments. I know that the demand is not THAT high for residential units, considering the rent for one is insanely high. People have cars and don’t need to walk to work. I’m predicting 50% occupancy tops.

Yeah, it’s completely unsustainable.

[Envisioning]

During Covid, I spent a year working remotely (as others did as well) for my previous employer in Fort Worth, due to my wife's health condition.

I realized I could do my job better and more efficiently working remote, which I believe many people could. What did my previous employer learn from this? Nothing. They added office square footage, bought new furniture cramming people closer to gether, which made no sense after Covid.

I now work REMOTELY for another firm in another state and we both couldn't be happier. There is no reason for people to have to work in an office if they could accomplish their job remotely.

Coorporate offices are on their way out, they just don't know it yet.

[T.B. Yoits]

The demand behind such new construction isn't for those units to sell or rent out, but it's how the wealthy run a debt economy.

If they take salary, they pay tax. If they buy property and then take loans against it, no taxes. Add in money laundering from overseas accounts (many held by Americans) and the market is no longer connected to occupancy.

One would be shocked at how many owners of high-end properties have never visited those properties.