Comments by "Mikko Rantalainen" (@MikkoRantalainen) on "go back to work, so NYC's commercial real estate bubble doesn't pop" video.

  1. It seems to me that the real root cause is that banks evaluate the buildings according to rent asking price even if nobody actually rents anything. Rents cannot be lowered because banks would then terminate loans because the buildings are no longer worth the remaining loan, according to bank's logic. If banks valued unrented space as zero or negative value as they should, there wouldn't be so many unrented spaces available with insane asking prices. I totally agree that this should not be fixed by going back to work, even if that would worked by some miracle.
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