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re: Next ten years are going to be very dark.
Posted on 5/17/20 at 6:09 pm to bluedragon
Posted on 5/17/20 at 6:09 pm to bluedragon
quote:I just wonder how fast retail gets replaced... retail was already suffering from online. Restaurants are hard enough to run. Going to need far lower rent and expenses, wages if they can't cram people together. Also doubt many large office leases will renew when the time comes as HR managers/execs shift towards a combination of WFH and flex/coworking for much less $. Landlords can't cover mortgages/expenses - then the banks get involved (or get help from Govt)? I don't know man, I see a of vacancies ahead.
The news media makes it a point of emphasis that 100,000 small businesses closed permanently. No they didn't. Temporarily. If someone doesn't reopen ...someone else will step in their place.
1
Posted on 5/17/20 at 6:38 pm to Nephropidae
Places more likely to get hit with vacancies are large office buildings, typically in high rent areas.
Think Manhattan, LA, Chicago, etc.
Restaurants may take a hit but not the level of hit that office space will take of companies decide that telecommuting is a feasible option.
Doesn’t mean there won’t be downstream effects as well. Lots of restaurants thrive on the lunch rush from large office buildings. If those go away, they better hope that either their delivery business picks up or that they are considered a desirable dinner spot.
Think Manhattan, LA, Chicago, etc.
Restaurants may take a hit but not the level of hit that office space will take of companies decide that telecommuting is a feasible option.
Doesn’t mean there won’t be downstream effects as well. Lots of restaurants thrive on the lunch rush from large office buildings. If those go away, they better hope that either their delivery business picks up or that they are considered a desirable dinner spot.
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