If landlords can’t pay back loans on office buildings, the lenders will suffer. Some banks are trying to avoid that fate.

If landlords can’t pay back loans on office buildings, the lenders will suffer. Some banks are trying to avoid that fate.

Hard times are likely ahead for a lot of people. Mind your expenses and plan to save where possible just in case. Apologies for having a doomer outlook; I’m very cynical about capitalism, especially in the USA.

  • phdepressed@sh.itjust.works
    331·
    5 months ago

    No one wants to take the upfront cost of renovation. Corporate buildings aren’t an easy conversion into normal apartments. Plumbing especially is very different.

    • Cryophilia@lemmy.world
      42·
      5 months ago

      I’ve seen estimates that it’s frequently cheaper to demolish the building and build a new one.

      • phdepressed@sh.itjust.works
        4·
        5 months ago

        That may be true depending on the extent of remodeling necessary. Do that and make it a green building with modern heat pump and you could make a profit in a few years. But they want the profit now