The pandemic showed that businesses don't need as much real estate as they thought. Commercial real estate value has dropped in value so much that Elon Musk is famously not paying rent -- and he hasn't been kicked out.
What would happen if commercial real estate companies asked their cities to reclassify their buildings as residential?
Existing residential real estate companies and homeowners would be furious. The value of residential housing would drop.
But it would be a fast solution to the housing crisis in cities. Commercial real estate companies would not go bankrupt.
What do you think?
@Chip_Unicorn it’s compassionate and logical and in the end profitable (where there are consumers there’s markets), which means it’s innately opposed to capitalism and could never be permitted.
