5 points
But, they would save billions of dollars by selling it back. This is textbook sunken cost fallacy.
7 points
I’ve been saying CEOs should be making real estate donations to the cities theyve pillaged, for the expressed purpose of affordable housing/low income housing. Huge tax write-off. Turn this negative into a positive real easy.
It’s almost like these are the kind of decisions CEOs get paid 1000x more than I do to make.
5 points
*
Except nobody wants to buy it… that’s the problem. Many of them have long term leases that they can’t break without significant penalties.
1 point
2 points
I’m with you, but it’s harder for more modern buildings.
https://www.nytimes.com/interactive/2023/03/11/upshot/office-conversions.html
The link is behind a paywall, but its a good piece.
