After pandemic, shrinking need for office space could crush landlords
The New York Times reports: As office vacancies climb to their highest levels in decades with businesses giving up office space and embracing remote work, the real estate industry in many American cities faces a potentially grave threat. Businesses have discovered during the pandemic that they can function with nearly all of their workers out of the office, an arrangement many intend to continue in some form. That could wallop the big property companies that build and own office buildings…