I’ve been saying CEOs should be making real estate donations to the cities theyve pillaged, for the expressed purpose of affordable housing/low income housing. Huge tax write-off. Turn this negative into a positive real easy.
It’s almost like these are the kind of decisions CEOs get paid 1000x more than I do to make.
But, they would save billions of dollars by selling it back. This is textbook sunken cost fallacy.
I’ve been saying CEOs should be making real estate donations to the cities theyve pillaged, for the expressed purpose of affordable housing/low income housing. Huge tax write-off. Turn this negative into a positive real easy.
It’s almost like these are the kind of decisions CEOs get paid 1000x more than I do to make.
Except nobody wants to buy it… that’s the problem. Many of them have long term leases that they can’t break without significant penalties.
Turn them into houses and fix the housing market problem along with it.
I’m with you, but it’s harder for more modern buildings.
https://www.nytimes.com/interactive/2023/03/11/upshot/office-conversions.html
The link is behind a paywall, but its a good piece.