00:00:00
And we're likely to see that vacancy.
00:00:01
It's not going to be quick and easy to
00:00:04
get those properties repurposed
00:00:07
partially because it costs money to get
00:00:09
that done and the cost of money is
00:00:11
pretty high. So while buyin is
00:00:13
occurring, deals are not exploding, but
00:00:15
there are some more and strategic
00:00:17
investors are coming back in.
00:00:19
Nonetheless, putting a lot of money into
00:00:21
these properties when money is so
00:00:22
expensive. That's not clearly going to
00:00:25
happen. However, all that said, the
00:00:28
bigger picture is what's the remote work
00:00:30
trend and what's going to happen to our
00:00:32
cities and downtowns of America, and
00:00:35
they could have been eviscerated, but it
00:00:37
looks like that is not the long run. I'm
00:00:40
somewhat optimistic about as the
00:00:43
in-person economy with AI and
00:00:45
technology, there's a increasing need
00:00:47
for inperson, and that's where downtown
00:00:49
shine.
