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alchemism 4 days ago

The City of Philadelphia sent all of its workers back to the office with an explicit statement from the Mayor about struggling commercial office real estate in the city center. They may not be "running the country" but they are definitely heavyweight players in the market.

Workaccount2 4 days ago | parent | next [-]

Businesses care about commercial real estate as much a renters care about landlords.

This commercial real estate take is so backwards you have to wonder if it's a plant to make the anti-RTO movement look like idiots.

freddie_mercury 4 days ago | parent | prev | next [-]

There was no such explicit statement from the mayor that it was because of real estate.

https://www.phila.gov/2024-05-20-statement-from-mayor-cherel...

hshdhdhj4444 4 days ago | parent | prev [-]

Umm, yeah, because city executives whose “organizations” are funded by local taxes, especially commercial real estate taxes care about it.

That says nothing about why CEOs of thousands of private firms who have nothing to do with real estate firms would care about those other companies’ profits.