I am not sure what they are crying about now. We knew paces in automation and AI were going to render jobs obsolete.
They are only worried about that NOW that they realize the people were the ones buying the products?
this post was submitted on 16 Nov 2023
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Ohhhhh yeah. Sloooowwwwwwwerrrrrr.
They don't talk about the increased value of commercial space outside of city centers though, weird right?
This is the best summary I could come up with:
The research adds to a string of recent signs that lasting changes to working habits because of the pandemic are hurting the value of commercial real estate — a market also under strain from rising interest rates.
(HBCYF) announced plans to halve the size of its global headquarters, giving up its imposing tower in London’s Canary Wharf business district for a much smaller building close to the city center.
McKinsey looked most closely at nine “superstar” cities with a disproportionate share of the world’s urban gross domestic product, namely Beijing, Houston, London, New York, Paris, Munich, San Francisco, Shanghai and Tokyo.
Waning demand for office space has driven down landlords’ asking rents, with US cities suffering the sharpest falls, McKinsey found.
Foot traffic near stores in urban areas remains 10-20% lower than it was before the pandemic, partly driven by growth in online shopping.
In an interview at Bloomberg’s Technology Summit last month, San Francisco Mayor London Breed proposed remaking the struggling city’s downtown by tearing down abandoned retail space, including Westfield mall.
The original article contains 534 words, the summary contains 173 words. Saved 68%. I'm a bot and I'm open source!