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Markets are settling into holiday mode, with stock futures slightly down on the last full trading day before Christmas. Here’s where things stand today: * Nasdaq-100: +0.37% * S&P 500: +0.04% (flat) * Dow Jones: -0.22% On Friday, the S&P 500 rose 1.1%, recovering
Quantum computing stocks are taking off in 2024. Is this the start of something big? Let’s take a closer look Google’s Chip Changes the Game Google’s new Willow chip, a 105-qubit processor, hit a big milestone: * Fixed Errors: It solved a 30-year problem by cutting down error
Government surveys that track the economy are failing. Budgets are shrinking, people are skipping surveys, and economic data we rely on is becoming less trustworthy. This is a big deal—because when the numbers are wrong, decisions that affect markets, businesses, and everyday life go wrong, too. Here’s what’
The S&P 500 Value Index just dropped 3.7%, marking its longest losing streak on record. Meanwhile, Bitcoin smashed past the $100,000 mark, and the Nasdaq climbed to 20,000. To me, it seems that value stocks have been left in the dust, and investors chasing bigger
Almost $10 billion has poured into Bitcoin ETFs since the US election, pushing Bitcoin past the $100,000 mark for the first time. The momentum is crazy, with Bitcoin posting its best winning streak since 2021. With investors pouring in, knowing the risks are more important than ever. Bitcoin’s
Working in-person feels like a chore. Low occupancy rates are hitting office buildings hard. Companies keep pushing for us to return to the office, but remote work isn't going anywhere. Developers, though, might have found a clever solution
Offices are Ghost Towns
Major cities are seeing office occupancy rates way below pre-pandemic levels. In Manhattan, occupancy is just 70% of what it used to be before COVID hit.
Remote and hybrid work are here to stay, leaving many office spaces vacant. Some developers are really feeling the pinch too:
Scott Rechler, CEO of RXR real estate, recently defaulted on a $240 million loan tied to NYC office buildings. He summed it up well: "This post-COVID world of higher interest rates, the changing nature of how people work and live, we're not going back to where we were, and it's going to be turbulent."
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Office Buildings are Getting Pinched: Occupancy rates are still below pre-pandemic levels, and bank loans on office buildings are being stretched from increasing interest rates.
Our Secret Solution for Boring Offices
So, what’s the fix? Some developers are taking notes from Europe. Over there, office buildings are often near entertainment spots like movie theaters, coffee shops, and restaurants. The idea is to mix fun with work to make the office more appealing.
Take Detroit, for example. The city brought in gambling operators to make a work-hard, play-hard environment. These casinos sit beside big businesses like General Motors that breathe new life into the area.
St. Louis has also turned things around. The city added attractions like a soccer stadium, ferris wheel, aquarium, breweries, and museums. It's no Las Vegas, but it's definitely a place more people are visiting.
Fixing the Commute
Commuting is the worst, right? Fixing the commute is a big challenge for American cities. There are two main ways I can think of to tackle this:
- Build or convert more housing closer to downtown areas.
- Invest more in transit infrastructure like light rail, bike lanes, and express lanes.
Can Cities Recover?
Despite commercial real estate being in the dumps right now, city living is still appealing. For example, New York City’s apartment rental market is still hot, even during the pandemic.
People are delaying having kids and spending more time in urban areas. While the reasons for city living have changed, the appeal for fun experiences are stronger than ever.
The future of office buildings will be in redesigning them, part of a broader entertainment region.
For more info on what I mean by 'Doom Loop' check out this article