Yup, corporations need to justify owning the big-ass office buildings they bought out, so they’re paying to make their own opinions be reported on over the actual truth. As usual.
this post was submitted on 10 Aug 2023
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It's not just the corporations renting those offices, it's the politicians of downtown areas that fear a downturn in tax revenue due to more empty offices and less people getting their daily coffee/lunch/after work drinks.
And of course, if everyone's working remotely, this means it's a lot easier to find a better job without even needing to leave the house to interview, which gives employees a better bargaining position (downside is that employers will start looking at employees in lower paying countries as well).
It's the commercial mortgage backed securities market.
Remember 2008 when they bundled up all those home mortgages that were based on shitty unpayable loans and sold off securities to retirement funds etc? But then people couldn't pay and the entire economy imploded resulting in massive bank failures?
Same deal. All those office space loans have been collateralized into securities. The 1% and the banking industry understand perfectly that if they don't force people to return to office, the entire system will implode again. Even after Dodd Frank the regulations on over the counter derivatives are still mostly non existent.
I wonder why they bother, considering they'll probably get bailed out again anyway.
There's always money in the banana stand