Both the office tower and suburbia were designed for a 1960s world where breadwinner father commuted to work in the "hub" and the mom stayed in the residential neighborhood, maintaining house and kids.
In 1960, only 25% of households were dual-income. Today, it's over 66%, with many families now wanting to live in a walkable, mixed-use neighborhood that lets them spend less time commuting and more time living, learning, playing, and working. 🧵
"Just as one slows to stare at a car wreck on the highway, so am I captivated by the stream of “distressed asset” headlines cross-cutting my newsfeed. It is a slow-motion REIT pile-up: iconic office towers, once the blue-chip anchors of the American skyline, are being offloaded at “high-vacancy” fire sale prices." (new Substack -- link below)