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ElysiumSprouts t1_jec7yu8 wrote

Reply to comment by cartsucks in CEOs are quietly backtracking on remote work—and more companies could follow by ethereal3xp

>propaganda from corporate real estate companies

Nailed it! There's office space that needs renting!

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Socially8roken t1_jecf9ko wrote

They use it as collateral. If office demand fall so do property values. If property values decline they lose their credit limit and lending limits.

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Epyr t1_jecghyn wrote

The bigger thing for companies is that many of them get grants and tax breaks from cities to have their offices there. The companies don't want to lose that money. Cities do it as they want the downtown traffic as it boosts local businesses like coffee shops and restaurants.

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GearhedMG t1_jeckuq8 wrote

My counter argument to that is people like me who dont live near their job and now my money is going to the local businesses that I live near.

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Epyr t1_jed2qri wrote

Yes, but small cities want businesses to have people draw money to them. How many small town die or become impoverished when companies leave en mass? It's not a small number and this trend will likely not help

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SatansHRManager t1_jedxb2j wrote

Opposite is true: People moved to small towns and exurbs BECAUSE they could work from home permanently.

Forcing them to commute again will lead some of those people to move back from those small towns and exurbs (i.e. more flight) and force the ones that don't want to uproot their families twice in three years for one company to find other jobs.

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Epyr t1_jef2wab wrote

In some cases yes, in most cases no. The number of people who prefer big cities vastly outweighs the number of people who prefer small cities. That doesn't mean some people don't like small cities, but it does mean small to medium sized cities don't massively benefit from having businesses running from their downtowns

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Sudden-Ad-1217 t1_jecknev wrote

It ain’t gonna rent itself! /s. ChatGPT has entered the chat……

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