2023: From Commodity to Community

Part 2: The Solutions…Back to the Roots

(Part 1 can be read here)

Awakening the Great Ones ~ Kent Dahlgren

What Are The Solutions?

Solution #1: Turning Commercial Buildings Into Housing is a Niche Market, Expensive and Unsustainable

Not long ago, real-estate industry leaders were urging the city’s workers to return to their office buildings. Rechler told me in 2020 that it was a “civic responsibility.” They’ve since surrendered to the changed reality. Sometimes tenants are downsizing and upgrading to more expensive spaces; sometimes they are economizing under the guise of offering flexibility. From the landlord’s perspective, motive hardly matters — space is space, and it’s got to be rented. Add in sharp hikes in interest rates, which make refinancing a huge commercial mortgage a potentially ruinous proposition, and you have a crisis that threatens not just the solvency of office buildings but the loans that are attached to them and the banks that hold them and, by extension, the whole economy. ~ New Glut City

Solution #2: Repurposing Those ‘Extra Houses’ into a Dynamic Community of Economic Opportunity is a Huge Marketplace, Cost Effective…