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submitted 1 year ago by Yuritopiaposadism@hexbear.net to c/urbanism@hexbear.net

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https://finance.yahoo.com/news/no-one-saw-coming-kevin-133000274.html

“No one saw this coming,” entrepreneur Kevin O’Leary said in a recent interview with Larry Kudlow of Fox Business. And O’Leary believes the issue will manifest itself in the regional banking sector. “These banks are going to fail,” he said, “because up to 40% of their portfolios … are in commercial real estate.”

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[-] Blastasaurus@lemm.ee 14 points 1 year ago

Do what Calgary is doing and convert it into residential.

[-] Tomboys_are_Cute@hexbear.net 18 points 1 year ago

I don't mean to be facetious but how is that going? Office buildings basically need to be completely gutted and rebuilt for that to work because of the plumbing and window minimums for residential living (and floor weights too, home furniture is much heavier than office furniture). Have they dropped the standard or are companies actually putting down the money for it?