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