Commercial Real Estate Crash Coming? How Much Office Space is Vacant?
Workers in tech factories and other locations where being present is required is still high, but office workers, usually in high rises in cities have plummeted. This bodes poorly for office building owners in cities like San Francisco and New York where a substantial number of office space isn’t being used and the future looks bleak for these cities including the high likelyhood of a commercial real estate crash for commercial offices.
The vacancy rates in cities have affected not only those buildings but the small businesses as well as the residential living in those cities, namely San Francisco and New York which would likely be the most likely to crash.