Art obviously by HappyRoadKill, beware the rampant NSFW furry art though
this post was submitted on 15 Apr 2024
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The honest answer is that if the office real estate market crashes, so does the US economy
Broken window fallacy
Not really. In this case we have a great example of this happening: the subprime mortgage crisis of 2008. The entire real estate economy is held up by wishes and prayers and mutually assured destruction.
If you think it's like 2008, then the "crash" would have happened (or did happen) in 2020. Re-inflating it in 2009 or 2025 is the "broken window".
I believe that was more about financial bullshit games selling debt packages to everyone and their mother that were insanely toxic and when it crumbled it took almost every bank with them.
I mean I have little faith that we actually fixed that problem, but I always saw it as a greedy banker issue not a specifically real estate issue.