Most office properties as per the article has always been referred to as “class a” in the business. It was most expensive, with lower returns, but was the most solid, stable type of property to own. Gold standard for long investors who want less headaches.
Now it’s like a owning doom. I have no idea what will happen to all of this property if everyone just stops using it.
Lots of creepy pictures online of nice old public buildings in cities like Detroit or Baltimore. Train stations, libraries, churches, shopping malls. All sorts of places, abandoned for decades.
“I have no idea what will happen to all of this property if everyone just stops using it.”
Boarded up burned to the ground downtowns AND suburbs nationwide(world wide?). Historic bank names disappeared.
See Detroit.
The tiny town of Trona CA, where I grew up, was turned into a ghost town overnight by one move from Kerr McGee Chemical Corp. I don’t see why that can’t happen to most of the major cities as well.
Money makes the world go ‘round.