Why office buildings are still in trouble
Hybrid work, layoffs and higher interest rates are creating ghost towns in the US commercial real estate business.
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Attendance at office buildings in New York and other cities is still languishing well below pre-pandemic levels.
PHOTO: NYTIMES
Peter Eavis, Julie Creswell and Joe Rennison
With the Covid-19 pandemic receding, children back in school and businesses telling employees to return to the office, the companies that own big office buildings were hoping to move on this autumn from a nightmarish two years.
Instead, things got worse.
