Johnnyrocket891
Active Member
- Joined
- Jul 1, 2019
- Messages
- 228
- Reaction score
- 134
I don't know what happened to the COVID-19 thread for urban impact in general (link doesn't redirect me to that thread) but in Manhattan, several major companies are considering reducing their commercial footprint after finding out WFH doesn't appear to have too much of a negative impact on productivity and would save money on their bottom line
Manhattan faces a reckoning if working from home becomes the norm
NEW YORK — Before the coronavirus crisis, three of New York City’s largest commercial tenants — Barclays, JPMorgan Chase and Morgan Stanley — had tens of thousands of workers in towers across Manhattan. Now, as the city wrestles with when and how to reopen, executives at all three firms have...www.boston.com
Looking forward, my guess is if this trend continues, a sizable portion of these soon to be less than fully occupied commercial buildings will be converted into residential which may actually contribute to the fall in housing prices and potentially solve our housing crisis.
Frankly I'm all for this. Increasing housing supply by converting commercial supply and the flexibility to work anywhere in the country is incredibly valuable and would level the playing field (in terms of reducing the cost of living) for all major cities across the nation as well as surrounding cities/towns of major urban centers.
I'm just curious what is the 30+ million unemployed Americans going to pay for rent in these high rise buildings since their are no jobs and Washington DC sold off all all American Manufacturing to a communist regime?
This economic contraction is going to hurt many Americans. Maybe China can buy up the rest of America for peanuts.
Last edited: