What a $1 deal says about America's office market

https://www.bbc.co.uk/news/business-68472143

by bananapear • 2 years ago

11 4 2 years ago

bbc.co.uk

I may be misinterpreting the general tone of these sorts of articles, but I usually get this impression: "selfish people who now work from home should go back to the office to keep sandwich shops open".

Setting aside all the environmental benefits of no longer needing to travel to and from the office every day, I also don't understand why these business pages don't see a changed situation as an opportunity rather than always viewing it as a loss. These delis were catering to a system that's disappeared, but in time there'll be new needs in the neighborhood, or new ways to use the premises, and create other jobs.

The people who were eating at this sandwich bar haven't magically stopped eating. They're just doing it somewhere else, giving their business and money to employ other people.

Where I live, nearer the edge of the city, all sorts of lunch restaurants and takeout places are flourishing. This is great because a lot of them are now also open in the evening, making the neighborhood much more alive and vibrant all through the day.

This is just a natural evolution that will stabilize over time. No need to force people to commute to an office for 8 hours a day, to keep a dinosaur system alive.

goodcanadian• 2 years ago

I think the key bit of the article is barely mentioned, and that is the office building being turned into condos. I've never found these downtown areas very interesting because everything closes after lunch. Actually getting people to live in these downtown neighbourhoods will also make them much more alive and vibrant just like your neighborhood further out. Yes, there will be a painful transition, but mixed use neighbourhoods will be much nicer long term. It may even get people back to the office if they can live near work. One of the reasons to work from home is simply to avoid the commute.

altairprime• 2 years ago

Working from home temporarily delays the “I can’t afford to eat out for lunch anymore” reckoning that was coming due for employers from wage stagnation — but not for the businesses that served those workers meals they can less afford each year.

smitty1e• 2 years ago

Related Jeffrey Tucker in Epoch Times: The Financial Crisis Begins https://link.theepochtimes.com/mkt_app/opinion/the-financial...

What a $1 deal says about America's office market

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