This happened with the 2004 housing boom - home prices were greatly inflated, meaning people couldn't sell later because they owed more on the house than they could sell for. I know quite a few people who bought then, thinking they were making a good investment to sell later, but it's taken until the COVID housing boom for the prices to come back to those original amounts.
To balance out your real estate holdings, I suggest investing in equities. If you're cautious, even the worst recessions can present fantastic buying opportunities. Additionally, volatility can produce fantastic short-term purchase and sell opportunities. This is not financial advise, but you should buy immediately away because money isn't king right now!
You're right. I was able to diversify my 450K portfolio across markets with the aid of an investment coach, and I was able to use high dividend yield stocks, ETFs, and bonds to generate a little over $830K in net profit.
Would you mind providing details on the advisor who helped you? saving for a pension through a corporate program since the age of 18. I hit greater tax along the road, so I increased my company pension with a SIPP (tax benefits). I'm now 50 and would love to expand my finances more aggressively; there are a few automobiles I still want to drive and a few mega-vacations that I still want to take.
Thank you for sharing, I must say, she appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive.
Just like how your New York's Leticia James wanted to go after Trump for supposedly inflating assets even though it is THE most common practice in our society, especially in hopes that gov't will collect more taxes.
Work from home is not a societal problem. People are tired of being shackled to their job. Life is about a lot more than just your career. My father and my grandfather worked until they died. They worked their life away never having any time to do what they wanted to do. I’m glad to see people are deciding that’s not what they want.
Came here to basically say the same comment. Further, this isn't even really a problem for New York; this is a problem for rent seekers, for parasites who will drive prices as high as possible.
@@AaronMartinColby exactly who wants to spend their entire life working their selves to the bone and for a lot of people never even getting to retire because they don’t make enough money like my dad and grandfather. I don’t wanna spend my life working until I die. I know I won’t.
No one wants to be working, everyone wants to be spending money. For sure. Nothing new. By the way, the world has been a much making to give people less work and more money in last several centuries. Do not You find.
This pandemic opened our eyes and gave us time to look at our lives to realise that investment is the key to sustaining your financial longevity .I know I don't want to go back to work for someone again! After my Investment experience I now believe investing today is a simple logic that creates you a future you don't need to work, fortunately for me I have figure out the easiest way to make money while I have time with my family.
This pandemic opened our eyes and gave us time to look at our lives to realise that Inves tment is the key to sustaining your financial longevity .I know I don't want to go back to work for someone again! After my Inves tment experience I now believe investing today is a simple logic that creates you a future you don't need to work, fortunately for me I have figure out the easiest way to make money while I have time with my family.
Every time I hear someone try to frame remote working as a problem, it's either a real estate tycoon or a business owner dependent on foot traffic. Huge conflict of interest in people who see us as a revenue stream.
Thats why they made sure to say the persons stocks are down so that we know its affecting their pocket and THATS the real reason why they see it as a problem.
People working from home lose social skills. I met many, and they become socially awkward and unable to chat people up...like chicks? They become as loony as gamers locked in their rooms for weeks on end.
In fact I am a fitness trainer and most on my client miss going back to the office they see their home now not as a place to relax and also they miss been around people is definitely bad
This is true there is no longer a need to move to New York to work in finance or Chicago or publishing and as an employer I have top talent I couldn't get here for the same price by hiring nationally! We are never going back to 9-5 five days a week. This multi-millionaire is living in the past
Remote work is the best thing that has happened to society in a century. Freed from commuting, our days are suddenly two hours longer, or more. We don't miss the traffic, and the traffic doesn't miss us.
You can build micro communities in these office buildings, from a post office, drs offices, and a library to small stores, specialty shops, and assorted recreation based on the needs and wants of that community. You can dedicate an entire floor to growing crops with a hydroponics system and even have the building off the grid if you wanted working like an earthship. There are so many options if you look forward instead of looking back!
Yes! I was listening to this as i was showering (tmi sorry) and i was envisioning this exact thing! Maybe not as detailed as your description lol but definitely the building of a community and making it more welcoming so people dont feel like work is a pain and they actually want to go to work cz they wont be confined to a dang office all day. Its time to reimagine the “workplace” environment and building these communities seems like the right way to go.
Well we don't quite know that. Working from home requires infrastructure (read massive data centers) that could potentially be just as bad for the environment.
@@SinaBagheriThere's no way, extra days and electricity usage is wise for the environment than moving humans back and forth, especially in cars and dense traffic. Plus, some of that same electrical power is used to do work at the office.
This pandemic opened our eyes and gave us time to look at our lives to realise that Inves tment is the key to sustaining your financial longevity .I know I don't want to go back to work for someone again! After my Inves tment experience I now believe investing today is a simple logic that creates you a future you don't need to work, fortunately for me I have figure out the easiest way to make money while I have time with my family.
you've remind me of what someone once said "The mind is the man, the poor is in it and the rich is it too". This sentence is the secret of most successful investors. I once attended similar and ever since then been waxing strong financially, and i most tell you the truth..Inves tment is the key that can secure your family future.
Starting early is the best way of getting ahead to build wealth, Inves ting remains a priority. I learnt from my last year's experience, i am able to build a suitable life because I invested early ahead this time.
I urge everyone to start somewhere now no matter how small, this is literally the time for that, forget material things, don't get tempted,i became more better the moment i realized this.
I see a Nobel coming to Dr Ali Rezai. As someone who's mixed Persian, I'm proud to find out he's an Iranian-born American. I hope his treatment can also help reduce anxiety and prevent panic attacks.
Don't be happy for a breakthrough, it will be another way for the private hospital to charge and make money, you must be very riches and have medical insurance to afford such a treatment, 🤭🤭🤭
This is game changing! Wow what an incredible outcome on the participants of the research. I bet that Dr is jumping up and down, if this research gets the go ahead to lead onto more trials this man is going to be mega loaded, not only rich financially but what a buzz to be able to get a break through like this, with the real potential to help patients regain their lives but healthier and happier lives too. Incredible.
What a brilliant 60 minutes this is, thank you all, for this well researched and presented, informative article and content, that you Doctor and your team.
7:44 Manhattan real estate shark who took a 50% haircut post-pandemic: "One of the biggest societal problems we're facing right now is work from home".
In the 90’s in San Francisco after the 89 earthquake. Most of the abandoned warehouses were converted to condominiums and lofts. What’s old is new again
7:45 these are the same people that have to be forced by law to pay their workers a fair wage. obviously it’s bad for our society since his stocks will go down
Companies still recording record profits year over year - despite the pandemic. Guess having people in the office isn't necessary, numbers never lie. Convert them into subsidized housing.
@@nancimanuele4129 Rural Americans like you with little to zero world view don't know this but - in other countries (with much higher quality of life metrics than the USA, there are many of them, over 20 in fact) tax dollars actually benefit taxpayers instead of funding endless foreign conflicts and "defense."
I just read that medical researchers suspect people who "pick their noses, often" have a higher risk of Alzheimer's because the tiny scratches from their fingernails inside their noses leave a more direct path for certain bacteria associated with the disease to get to the brain. It makes sense, but I wonder what sparked the hypothesis.
Oh, OK. Always good to know why you're f*cked... I smoked so much weed in my lifetime, though that I must be somewhat protected, since I know there is a clear case for cannabis helping against absent-mindedness since quite some time, and it's also, now known it's a good way of controlling Alzheimer. Did you see the video of a person sick with this sickness and smoking weed? It's quite spectacular so witness.
Whoever came up with this theory, I want to see a weel done study on this before I believe it. It is still quite far to the brain from the entrance of the nostrils so I doubt that a lot
Offices are incredibly inefficient. Even generously assuming just an average 15 minute commute, it means every employee in your company wastes 2.5 hours every week (100+ hours in a year) commuting. And that’s not including the extra time getting ready in the morning to go in. If you have just 10 employees, you’re successfully wasting over 1000 hours of life every year. Not to mention all of the other expenses relating to working at the office, from gas, to food, to childcare, to car maintenance, even increased costs from formal attire like dress shoes. What’s even more ludicrous is the housing crisis has priced out the largest generation in the workforce today from owning a home anywhere near downtown metropolitan areas, and now we’re seeing vehicle prices hovering around the average American’s SALARY. And long gone are the days when one parent could work with the other acting as a stay at home parent. It now takes two salaries to raise a child, which incurs even more childcare/daycare costs to work in office. I’m sick of listening to out of touch billionaires and teetering retirees give their opinions on what’s best for those of us who need to make the next 30+ years of working make any financial sense. Seeing people in person is nice from time to time, but 5 days a week 8 hours a day is beyond unnecessary.
I think one of the answers to this problem to be to transform these buildings into condos, apartments, etc..for people to live in. Since there seems to be a shortage of places for prople to live in all over the country, is this not a sensible solution to part of the problem..also transforming empty school buildings for temporary housing for the homeless..There is everything they need, including male and female restrooms, showers, and cafeteria.. The classrooms have 2 doors, one at each end of the classroom so they can be devided for either singles or families..
I suggest you offset your real estate and get into stocks, A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!
One strategy for protecting against a recession is to buy equities. Investors, especially during a recession, need to know where and how to put money in order to make money while avoiding inflation.
It has never been easier to understand how to build your money than it is right now, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investtments, in my opinion, are complex.
Working with a Financial Advisor to help guide you on your wealth-building journey if you're just starting out is a wonderful way to get started and thats how i was able to accrued good gains . They helps to manage investment overall risk profile , prevent permanent loss of capital consider maintaining a broad diversification of your investments that reflects your personal risk tolerance, time horizon, and the nature of your financial goal
The GOP would never consider allocating funds to people who actually need it. They always say, "America First", but they never want to actually provide anything to Americans that aren't in the top 2%. Instead, they'd rather give billions annually to countries that provide healthcare to its residents and to one country in particular that doesn't even have homelessness.
It does make a lot of sense, but of course, you have to blame local government and their ridiculous regulations which make it more difficult than it has to be to do this.
This is the main achilles heel in everything about America, Off topic but as an investing enthusiast, I often wonder how veteran investors get rich off dividends. I do have a good amount of capital to invest for passive income, but my focus right now is how to gain wealth from market resurgence, I'm keen on retiring early with at least $1m.
I was taught well on how to save, nothing on dividends, but now I'm really ratcheting up investments with the help of a reputable FA, realized at least $800k after subsequent investments in so far this year. I do think I have dropped a lot of stress about finances having a long term perspective about investing.
@@JasonDinero Even the best inves tors lose money when the market is down or when they make a decision that doesn’t turn out as hoped I can't actually leave details on here, you could do a research yourself she's Laura Grace Abels , she has a web presence.
Even the best inves tors lose money when the market is down or when they make a decision that doesn’t turn out as hoped I can't actually leave details on here, you could do a research yourself she's Laura Grace Abels , she has a web presence.
I’d work full time in the office again if they make it worth my while but they would really need to make it worth my while otherwise I’ll just continue to pursue WFH opportunities.
A lot of offices in my area have shut down a lot of multiple locations and have kept just a small hand full. Realizing that hybrid employees can shuffle days of the week they are in the office and not in the office. Mon-wed-thur I noticed traffic much denser on the roads and those are most likely the forced 3 days a week back to the office. By doing this cost cutting measure companies in the long run are saving bundles of money.
The 'VALUE' of the building is based on the 5 year discounted cash flow of the building, so an appraisal with good revenue growth determines the value of the collateral & viability of the credit. Therefore, fir the re-fi appraisals, the owners have to get the revenue stream moving upwards or it'll lack liquidity.
Commercial Real Estate is much bigger than the office sector, certainly than the NYC CBD office sector. Industrial, Retail, Multifamily, Hospitality and other asset classes also have been changing drastically since 2020 and into the period of rising interest rates. Office obviously has the gloomiest outlook but the rates have impacted other sectors as well, which probably should have been mentioned (maybe because they aren't interesting stories with work-from-home changes or multifamily conversions). This piece also didn't speak to the enormous obstacles in converting office buildings to residential on the public side, with zoning and entitlement, site plan review by planning commissions etc taking up an enormous amount of time and money to navigate. With rates as they are, many conversions aren't as feasible as they may seem at first. It's a plan to fix obsolescence that seems obvious but is harder than it looks to accomplish, especially with the recent increase in multifamily supply.
Thank you ! I found it hilarious that they are insinuating the entire CRE market is collapsing. This was Office owner propaganda, They should have had better foresight, covid or not hybrid/WFH was inevitable, especially with the rents they charge.
It is difficult to make exact projections for the housing market as it is still unclear how quickly or to what degree the Federal Reserve will reduce inflation and borrowing costs without having a substantial negative impact on demand from consumers for anything from houses to cars.
I recently sold my home in the Boca Grande area and am considering investing a lump sum into the stock market before the anticipated rebound, couple of folks have been discussing a potential rally, speculating on which stocks may experience substantial growth during the festive season. Do you have any insight into which stocks these might be?
I've remained in touch with a financial analyst since the start of my business. Amid today's dynamic market, the key difficulty is pinpointing the right time to buy or sell when dealing with trending stocks - a seemingly simple task but challenging in reality. My portfolio has grown by more than $600k within just a year, and I've entrusted my advisor with the task of determining entry and exit points.
@@neuermuller I think anything in tech will grow quickly over the next 5 years. Once companies start to show productivity growth from their AI capx and rates come down, a lot of money is going to come back into the market. I'm also thinking about selling to pull money out of my home and invest.
Many commercial developers are crying about work from home arrangements but they, along with many greedy bankers and investment companies, are part of the problem, and now they are crying wolf!
This research will end up in the hand of the rich, you need to paid a high medical fee to be treated, ordinary and the poor can not afford such kind of treatment, This will be another way for making money for the hospital, 🤭🤭🤭
which makes sense for eliminating Plaques BUT as far as tangles which causes Micro-tubules to collapse what would be the solution to repair tangles Glad to hear of the elimination procedures of Plaques
This is like the Simpson's episode where the principal is hiding the steamed clams behind the kitchen door. But the Principal is the Banks and the clams are the Great Depression sequel
The most successful businesses are those that modernize and adapt with the times, rather than whine and moan about the decline of status quo. Although informative, this article seems like a lobbyist driven agenda by labeling remote work as a problem, by trying to force CEO's to embrace back-to-work policies to save developers millions, because they bet on their success being exponential into the foreseeable future with commercial real estate, rather than accept the newly found efficiencies of the modern-day workplace environment. It is not up to the everyday people to keep these millionaires happy and rich.
The continued development of supertowers in NY like 1 Vanderbit, 270 Park, 350 Park, and Rechler's 175 Park (featured in this video) is a testament to the vast wealth of NYC. No other American city is building office buildings, let alone 1,550' supertowers.
i often wonder about how firefighters can stop a fire at that height. after 9/11, such buildings lost all appeal, you cant leave and nobody can get to you
In '08 residential real estate 🏡 nearly plunged the global banking system into the abyss and here we are 15yrs later and commercial real estate is likely to do the same, but what makes this worse now is is the US national debt has grown by an additional $14 trillion and a bailout of the banks again for their risk taking isn't an option 🏦 💰
(7:40) This. This. This. ... (11:38) And, This. This. This. ... The market has yet to provide businesses with a good reason--a real comparative edge--for bringing their staff back into the office.
Higher interest rates aren’t determining where we work. The ability to work remotely is. But higher interest rates are destroying commercial real estate business models built on debt. The Federal Reserve’s manipulation of interest rates and liquidity caused this situation.
Well assuming rates were always going to stay low is also a problem and those commercial real estate developers took that risk. If they did not consider that risk then let them fail
@@lucid685 agreed. But government shouldn’t be manipulating rates. Lulling people into thinking rates will always be low is bad. For decades, people took risks based on low rates and those who avoided reliance on low rates essentially stayed out of things like commercial real estate. The low rate environment TRAINED entrepreneurs to depend on low rates. It’s STILL their responsibility. Or, rather, the BANKS who will stuck with these properties. Or, rather, the taxpayers who will be stuck bailing out the banks. Darn. It’s back to me and you and everyone else who had no idea what the government was putting us on the hook 🪝 for.
Why use office space when everyone works remotely simply with their computer. Maybe it's time they switch these spaces to apt spaces and make them useful
IS the Alzheimers treatment now available everywhere? This is the first time I have heard of it. Everyone should know about it. The outcomes for all the treatments are great.
The rich businessmen have had it too easy for a long time, and now they will have to accept less and work harder, and do the same thing they have told the workers at the bottom to do. So be nice to the people you meet on the way to the top because you may meet them on your way back down.
Not every office building is suitable to repurposing. One can work a mid rise , mostly those old pre war buildings. Newer buildings , with large floor plates , and core shafted, over 6,000 sf per floor , are a no go. They generate a lot of wasted space. Also residential units demand large window frames and lots of daylight exposure. Many newer office buildings , they use glass plates to cover the entire e ternal perimeter. There has yo be a clear definition between glass and masonry. The ideal scenario:is to take up an outdated office building and repurpose it, where it makes financial sense.
Crime, drugs, traffic, crowding, insane gov't taxes, regulations, and beaurocracy stifling small businesses....why would anyone pay the outrageous prices to be there when they can just as easily work safely from home with no commute into a dystopian jungle?
This is what Dr. Ben Carson was supposed to be heading up as he was "the first" Neurosurgeon to separate Siamese twins. He was suppose to build a school to support at risk Black youth as he once was. He threw it all away to fit in with the wrong crowd. He got robbed.
Artists want cheap rent. It worked in NYC during the 50’s as factories were pushed out of Manhattan. No landlord in its right mind will give a lease to an artist. Just on the account of condo and tax charges , it is already beyond affordable to an artist to meet monthly expenses.
Thank you all for this great 60 mn program. Many people made this excellent program possible. The USA is a great country with brilliant scholars who can do their research and help people. I went to WVU and I am proud of Dr. R. BEAUTIFUL MIND. I love being here. I learn something new every day. Dr. R. 4 the Nobel Prize.
There should be laws against LLCs unlimited liability companies owning Real Estate apartments then price gouging even though their mortgage rates stay the same , their mortgage stay the same during inflation
Draconian lockdowns have consequences. The days of property owners gouging business owners are over. Just look at the rent prices in NY. Ridiculous! Property owners would rather keep it vacant than lower the price to a reasonable number. Same with storefronts. 30k a month for a shoebox? 🤦 Of course you didn't ask any of them what they were charging.
ALL THINGS CHANGE! In the coming decades we will see massive changes to the way people work and live and the way our children go to school, think about the all money you could save and the traffic congestion, environmental pollution, oil consumption we could achieve by have 3 DAY WORK WEEKS and SCHOOL WEEKS, the possibilities are ENDLESS, convert these buildings into LOW COST HOUSING
Work from home works it keeps more money in the home owners pockets cause they only either pay one rent or no rent at all depending on if they pay rent for home or they rent their homes either way more money can now either be used for leasure or spend on home owners kids and own house.
What people in 1st world don’t realise is that WFH sounds good now however employers will not be even more tempted to hire from an abroad cheaper country for the same jobs. They could cut HR costs by 40% which is a very very lucrative offer. I think we r working our way out of jobs.
Anybody know any books,articles,website, videos about commercial real estate I would like to gain some knowledge before I invest in some commercial property
To put this on another level. As prime office space, you will have prime residential housing with all the above amenities and more. I predict this will become the future of some commercial space. The other side. Not everyone desires to work from home. some people (with children) like being away from home as a break. Remember we are People with differences. This makes us unique. You will always have commercial office space... Just not as much. Making commercial space a premium in itself.
remember how all this people and Real State raised the prices of units during the pandemic to a point that lots of us end up on the street?, now all those places are losing money, greedy consequences
Billionaries en real estate en NY, San Francisco others cities, they increase and increase prices in rents until they put half the people homeless and they complain now they do not find people to pay the prices . Leave affordable prices and will work.
"we invest a lot of equity. If it works we make a lot of money. If it doesn't work; um; the lender can; take over the building" Let me help. If it works. You make A LOT OF MONEY. If it doesn't work. You lose nothing and taxpayers cover the loss in the form of the pending bail out. Gotcha. CAPITALISM! 🤣
This is a bad news for the riches who put all their asset and investment in high rise commercial building to show off their pride of owning the skyline of the city,
That sounds so awesome and amazing and great I'm great and glad to hear that the economy and the people and the businesses in New York are doing so well happy for all of you thank God I'm not there
Convert these offices into residential space for remote workers. Everybody happy ❤. Just don't feudal jack up the price to commercial pre-pandemic value.
This happened with the 2004 housing boom - home prices were greatly inflated, meaning people couldn't sell later because they owed more on the house than they could sell for. I know quite a few people who bought then, thinking they were making a good investment to sell later, but it's taken until the COVID housing boom for the prices to come back to those original amounts.
To balance out your real estate holdings, I suggest investing in equities. If you're cautious, even the worst recessions can present fantastic buying opportunities. Additionally, volatility can produce fantastic short-term purchase and sell opportunities. This is not financial advise, but you should buy immediately away because money isn't king right now!
You're right. I was able to diversify my 450K portfolio across markets with the aid of an investment coach, and I was able to use high dividend yield stocks, ETFs, and bonds to generate a little over $830K in net profit.
Would you mind providing details on the advisor who helped you? saving for a pension through a corporate program since the age of 18. I hit greater tax along the road, so I increased my company pension with a SIPP (tax benefits). I'm now 50 and would love to expand my finances more aggressively; there are a few automobiles I still want to drive and a few mega-vacations that I still want to take.
Thank you for sharing, I must say, she appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive.
Just like how your New York's Leticia James wanted to go after Trump for supposedly inflating assets even though it is THE most common practice in our society, especially in hopes that gov't will collect more taxes.
Work from home is not a societal problem. People are tired of being shackled to their job. Life is about a lot more than just your career. My father and my grandfather worked until they died. They worked their life away never having any time to do what they wanted to do. I’m glad to see people are deciding that’s not what they want.
Came here to basically say the same comment. Further, this isn't even really a problem for New York; this is a problem for rent seekers, for parasites who will drive prices as high as possible.
@@AaronMartinColby exactly who wants to spend their entire life working their selves to the bone and for a lot of people never even getting to retire because they don’t make enough money like my dad and grandfather. I don’t wanna spend my life working until I die. I know I won’t.
No one wants to be working, everyone wants to be spending money. For sure. Nothing new.
By the way, the world has been a much making to give people less work and more money in last several centuries. Do not You find.
This pandemic opened our eyes and gave us time to look at our lives to realise that investment is the key to sustaining your financial longevity .I know I don't want to go back to work for someone again! After my Investment experience I now believe investing today is a simple logic that creates you a future you don't need to work, fortunately for me I have figure out the easiest way to make money while I have time with my family.
This pandemic opened our eyes and gave us time to look at our lives to realise that Inves tment is the key to sustaining your financial longevity .I know I don't want to go back to work for someone again! After my Inves tment experience I now believe investing today is a simple logic that creates you a future you don't need to work, fortunately for me I have figure out the easiest way to make money while I have time with my family.
That doctor is doing amazing work. Bless him.
I FEEL ZERO PITY FOR NEW YORK LANLORDS 😮
7:39 Working from home is not a “societal problem”.
Real estate executives may want to sell us on that idea. But it’s not true.
Every time I hear someone try to frame remote working as a problem, it's either a real estate tycoon or a business owner dependent on foot traffic. Huge conflict of interest in people who see us as a revenue stream.
@@josephastier7421 and people saying this, own the building, in effect "working from home"
Thats why they made sure to say the persons stocks are down so that we know its affecting their pocket and THATS the real reason why they see it as a problem.
What a great man Dr. Rezai is. He and his team are giving millions of people hope for the future.
The billionaire owning office buildings says “Work from home” is “dangerous for society”. Weird pronunciation of “dangerous for my wallet”.
People working from home lose social skills. I met many, and they become socially awkward and unable to chat people up...like chicks? They become as loony as gamers locked in their rooms for weeks on end.
In fact I am a fitness trainer and most on my client miss going back to the office they see their home now not as a place to relax and also they miss been around people is definitely bad
This is true there is no longer a need to move to New York to work in finance or Chicago or publishing and as an employer I have top talent I couldn't get here for the same price by hiring nationally! We are never going back to 9-5 five days a week. This multi-millionaire is living in the past
Remote work is the best thing that has happened to society in a century. Freed from commuting, our days are suddenly two hours longer, or more. We don't miss the traffic, and the traffic doesn't miss us.
People are social creatures
You can build micro communities in these office buildings, from a post office, drs offices, and a library to small stores, specialty shops, and assorted recreation based on the needs and wants of that community. You can dedicate an entire floor to growing crops with a hydroponics system and even have the building off the grid if you wanted working like an earthship. There are so many options if you look forward instead of looking back!
Yes! I was listening to this as i was showering (tmi sorry) and i was envisioning this exact thing! Maybe not as detailed as your description lol but definitely the building of a community and making it more welcoming so people dont feel like work is a pain and they actually want to go to work cz they wont be confined to a dang office all day. Its time to reimagine the “workplace” environment and building these communities seems like the right way to go.
The elites want this. It’s all part of a plan to reset the world
@@yvonnecortes_Wow what an awesome idea!!!!
That's the goal. You will live in a 15 minute city.
"By 2030, you will own nothing, have nothing, you will be happy."
-World Economic Forum
They can build a cemetery inside the top of the building for easy a exit to the heaven🤔🤔🤭🤭
Working from home is good for the environment. I never hear that discussion.
Well we don't quite know that. Working from home requires infrastructure (read massive data centers) that could potentially be just as bad for the environment.
@@SinaBagheriThere's no way, extra days and electricity usage is wise for the environment than moving humans back and forth, especially in cars and dense traffic. Plus, some of that same electrical power is used to do work at the office.
He said "remote work is bad for people" follow by "his stocks are down by 50%" 😂. These greedy people running scams now in the house market
And thats why you are poor hahaha
He's got "Main Character" energy and everyone else is just there to make him more money. lol
This pandemic opened our eyes and gave us time to look at our lives to realise that Inves tment is the key to sustaining your financial longevity .I know I don't want to go back to work for someone again! After my Inves tment experience I now believe investing today is a simple logic that creates you a future you don't need to work, fortunately for me I have figure out the easiest way to make money while I have time with my family.
you've remind me of what someone once said "The mind is the man, the poor is in it and the rich is it too". This sentence is the secret of most successful investors. I once attended similar and ever since then been waxing strong financially, and i most tell you the truth..Inves tment is the key that can secure your family future.
Starting early is the best way of getting ahead to build wealth, Inves ting remains a priority. I learnt from my last year's experience, i am able to build a suitable life because I invested early ahead this time.
I urge everyone to start somewhere now no matter how small, this is literally the time for that, forget material things, don't get tempted,i became more better the moment i realized this.
exactly! That's my major concern and what kind of profitable business or Inves tment can someone do with the current rise in economic downturn
Hello nice comments here, please what exactly kind of inves tment are you talking about here, I'm really interested too
I see a Nobel coming to Dr Ali Rezai. As someone who's mixed Persian, I'm proud to find out he's an Iranian-born American. I hope his treatment can also help reduce anxiety and prevent panic attacks.
Don't be happy for a breakthrough, it will be another way for the private hospital to charge and make money, you must be very riches and have medical insurance to afford such a treatment, 🤭🤭🤭
This is game changing! Wow what an incredible outcome on the participants of the research. I bet that Dr is jumping up and down, if this research gets the go ahead to lead onto more trials this man is going to be mega loaded, not only rich financially but what a buzz to be able to get a break through like this, with the real potential to help patients regain their lives but healthier and happier lives too. Incredible.
😅😅😅😅😅
Love 60 minutes. The last bastion of Real Old Fashioned, investigative reporting.
What a brilliant 60 minutes this is, thank you all, for this well researched and presented, informative article and content, that you Doctor and your team.
7:44 Manhattan real estate shark who took a 50% haircut post-pandemic: "One of the biggest societal problems we're facing right now is work from home".
Drug abuse, homelessness, rising medical costs, Alzheimers, these are societal problems. Your shrinking real estate portfolio, business problems.
@@michaelbryant2071 YEP!
In the 90’s in San Francisco after the 89 earthquake. Most of the abandoned warehouses were converted to condominiums and lofts. What’s old is new again
Those "abandoned" huge warehouses were some of our best dance clubs. RIP Pleasure dome, Club Universe. Most fun I ever had under a roof.
Bless this neurosurgeon. XO
GOOD LUCK DR.RAI
7:45 these are the same people that have to be forced by law to pay their workers a fair wage. obviously it’s bad for our society since his stocks will go down
Companies still recording record profits year over year - despite the pandemic. Guess having people in the office isn't necessary, numbers never lie. Convert them into subsidized housing.
Are you going to subsidize them?
@@nancimanuele4129 Rural Americans like you with little to zero world view don't know this but - in other countries (with much higher quality of life metrics than the USA, there are many of them, over 20 in fact) tax dollars actually benefit taxpayers instead of funding endless foreign conflicts and "defense."
God Bless those doctors 🥼 pushing forward to save lives. Every live is important and a gift
I just read that medical researchers suspect people who "pick their noses, often" have a higher risk of Alzheimer's because the tiny scratches from their fingernails inside their noses leave a more direct path for certain bacteria associated with the disease to get to the brain. It makes sense, but I wonder what sparked the hypothesis.
Oh, OK. Always good to know why you're f*cked... I smoked so much weed in my lifetime, though that I must be somewhat protected, since I know there is a clear case for cannabis helping against absent-mindedness since quite some time, and it's also, now known it's a good way of controlling Alzheimer. Did you see the video of a person sick with this sickness and smoking weed? It's quite spectacular so witness.
Not to worry, I bite my fingernails too so i'm good. 🤣🤣🤣
Sounds like that’s an association only.
And based on mere survey data probably.
Whoever came up with this theory, I want to see a weel done study on this before I believe it. It is still quite far to the brain from the entrance of the nostrils so I doubt that a lot
Offices are incredibly inefficient. Even generously assuming just an average 15 minute commute, it means every employee in your company wastes 2.5 hours every week (100+ hours in a year) commuting. And that’s not including the extra time getting ready in the morning to go in. If you have just 10 employees, you’re successfully wasting over 1000 hours of life every year. Not to mention all of the other expenses relating to working at the office, from gas, to food, to childcare, to car maintenance, even increased costs from formal attire like dress shoes.
What’s even more ludicrous is the housing crisis has priced out the largest generation in the workforce today from owning a home anywhere near downtown metropolitan areas, and now we’re seeing vehicle prices hovering around the average American’s SALARY. And long gone are the days when one parent could work with the other acting as a stay at home parent. It now takes two salaries to raise a child, which incurs even more childcare/daycare costs to work in office.
I’m sick of listening to out of touch billionaires and teetering retirees give their opinions on what’s best for those of us who need to make the next 30+ years of working make any financial sense. Seeing people in person is nice from time to time, but 5 days a week 8 hours a day is beyond unnecessary.
As always, top notch. And Dr. Rezai, ward up mate, ward up.
I think one of the answers to this problem to be to transform these buildings into condos, apartments, etc..for people to live in. Since there seems to be a shortage of places for prople to live in all over the country, is this not a sensible solution to part of the problem..also transforming empty school buildings for temporary housing for the homeless..There is everything they need, including male and female restrooms, showers, and cafeteria.. The classrooms have 2 doors, one at each end of the classroom so they can be devided for either singles or families..
This medical science is amazing!!!
Fascinating episode
Amazing doctor!
I suggest you offset your real estate and get into stocks, A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!
One strategy for protecting against a recession is to buy equities. Investors, especially during a recession, need to know where and how to put money in order to make money while avoiding inflation.
It has never been easier to understand how to build your money than it is right now, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investtments, in my opinion, are complex.
Working with a Financial Advisor to help guide you on your wealth-building journey if you're just starting out is a wonderful way to get started and thats how i was able to accrued good gains . They helps to manage investment overall risk profile , prevent permanent loss of capital consider maintaining a broad diversification of your investments that reflects your personal risk tolerance, time horizon, and the nature of your financial goal
please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with them?
Credits to 'Carol Vivian Constable' she has a web presence, so you can simply
Empty office space.
Housing shortage.
Could be converted to housing.
Nah...makes too much sense
The GOP would never consider allocating funds to people who actually need it. They always say, "America First", but they never want to actually provide anything to Americans that aren't in the top 2%. Instead, they'd rather give billions annually to countries that provide healthcare to its residents and to one country in particular that doesn't even have homelessness.
@@B_Bodziak I was thinking more like private sector investment.
They're never going to refill those office buildings.
It does make a lot of sense, but of course, you have to blame local government and their ridiculous regulations which make it more difficult than it has to be to do this.
Who pays for it? The buildings are privately owned. Government mandates they sell it? For what price? Nah. I’ll say no to government mandates.
@@edd06001 cookie cutter plans, since the vacant floors would be pretty much the same.
Then fast track the approvals with rigid review.
This is the main achilles heel in everything about America, Off topic but as an investing enthusiast, I often wonder how veteran investors get rich off dividends. I do have a good amount of capital to invest for passive income, but my focus right now is how to gain wealth from market resurgence, I'm keen on retiring early with at least $1m.
Not falling for yield traps is important, focus on long term growth. ideally, a good FA can help you earn those dividends over time.
I was taught well on how to save, nothing on dividends, but now I'm really ratcheting up investments with the help of a reputable FA, realized at least $800k after subsequent investments in so far this year. I do think I have dropped a lot of stress about finances having a long term perspective about investing.
I could really use some assistance, haven't been doing so great as of late, who is this your FA.
@@JasonDinero Even the best inves tors lose money when the market is down or when they make a decision that doesn’t turn out as hoped I can't actually leave details on here, you could do a research yourself she's Laura Grace Abels , she has a web presence.
Even the best inves tors lose money when the market is down or when they make a decision that doesn’t turn out as hoped I can't actually leave details on here, you could do a research yourself she's Laura Grace Abels , she has a web presence.
Tks a lot :)
I’d work full time in the office again if they make it worth my while but they would really need to make it worth my while otherwise I’ll just continue to pursue WFH opportunities.
A lot of offices in my area have shut down a lot of multiple locations and have kept just a small hand full. Realizing that hybrid employees can shuffle days of the week they are in the office and not in the office. Mon-wed-thur I noticed traffic much denser on the roads and those are most likely the forced 3 days a week back to the office. By doing this cost cutting measure companies in the long run are saving bundles of money.
Great documentary
One shoulder injury leads to years of addiction illness for our strongest youths is a startling tale.
The 'VALUE' of the building is based on the 5 year discounted cash flow of the building, so an appraisal with good revenue growth determines the value of the collateral & viability of the credit. Therefore, fir the re-fi appraisals, the owners have to get the revenue stream moving upwards or it'll lack liquidity.
I watched a lot of Lewis rossman's videos before he left New York about the real estate very interesting!!
Louis
Commercial Real Estate is much bigger than the office sector, certainly than the NYC CBD office sector. Industrial, Retail, Multifamily, Hospitality and other asset classes also have been changing drastically since 2020 and into the period of rising interest rates. Office obviously has the gloomiest outlook but the rates have impacted other sectors as well, which probably should have been mentioned (maybe because they aren't interesting stories with work-from-home changes or multifamily conversions). This piece also didn't speak to the enormous obstacles in converting office buildings to residential on the public side, with zoning and entitlement, site plan review by planning commissions etc taking up an enormous amount of time and money to navigate. With rates as they are, many conversions aren't as feasible as they may seem at first. It's a plan to fix obsolescence that seems obvious but is harder than it looks to accomplish, especially with the recent increase in multifamily supply.
Thank you ! I found it hilarious that they are insinuating the entire CRE market is collapsing. This was Office owner propaganda, They should have had better foresight, covid or not hybrid/WFH was inevitable, especially with the rents they charge.
Thank u for giving all is us hope thank u
It is difficult to make exact projections for the housing market as it is still unclear how quickly or to what degree the Federal Reserve will reduce inflation and borrowing costs without having a substantial negative impact on demand from consumers for anything from houses to cars.
I recently sold my home in the Boca Grande area and am considering investing a lump sum into the stock market before the anticipated rebound, couple of folks have been discussing a potential rally, speculating on which stocks may experience substantial growth during the festive season. Do you have any insight into which stocks these might be?
I've remained in touch with a financial analyst since the start of my business. Amid today's dynamic market, the key difficulty is pinpointing the right time to buy or sell when dealing with trending stocks - a seemingly simple task but challenging in reality. My portfolio has grown by more than $600k within just a year, and I've entrusted my advisor with the task of determining entry and exit points.
@@neuermuller I think anything in tech will grow quickly over the next 5 years. Once companies start to show productivity growth from their AI capx and rates come down, a lot of money is going to come back into the market. I'm also thinking about selling to pull money out of my home and invest.
Many commercial developers are crying about work from home arrangements but they, along with many greedy bankers and investment companies, are part of the problem, and now they are crying wolf!
Im really wealthy you guys! I buy real estate all the time. I play alot of golf too ⛳. Im super duper rich.
I can't think of anyone more deserving of a Nobel Peace Prize for medicine than this doctor. I'm not religious, but wow, what a blessing this man is.
This research will end up in the hand of the rich, you need to paid a high medical fee to be treated, ordinary and the poor can not afford such kind of treatment,
This will be another way for making money for the hospital, 🤭🤭🤭
Not all health care systems in the world are like America's, I'm sorry to inform you.@@george6696
At least this doctor is trying ive been an addict for over 50yrs and ive learned traditional recovery care dont work
which makes sense for eliminating Plaques
BUT as far as tangles which causes Micro-tubules to collapse what would be the solution to repair tangles
Glad to hear of the elimination procedures of Plaques
This is like the Simpson's episode where the principal is hiding the steamed clams behind the kitchen door. But the Principal is the Banks and the clams are the Great Depression sequel
But what if he was to purchase fast food and disguise it as his own cooking?
The most successful businesses are those that modernize and adapt with the times, rather than whine and moan about the decline of status quo. Although informative, this article seems like a lobbyist driven agenda by labeling remote work as a problem, by trying to force CEO's to embrace back-to-work policies to save developers millions, because they bet on their success being exponential into the foreseeable future with commercial real estate, rather than accept the newly found efficiencies of the modern-day workplace environment. It is not up to the everyday people to keep these millionaires happy and rich.
i am still feeling there is God
The continued development of supertowers in NY like 1 Vanderbit, 270 Park, 350 Park, and Rechler's 175 Park (featured in this video) is a testament to the vast wealth of NYC. No other American city is building office buildings, let alone 1,550' supertowers.
i often wonder about how firefighters can stop a fire at that height. after 9/11, such buildings lost all appeal, you cant leave and nobody can get to you
That’s awesome god bless our doctors
Master of the Mind = A M A Z I N G ! ! !
Sorry for the naive question why they didn’t convert these empty spaces to residential apartments?
Lower rate of return
In '08 residential real estate 🏡 nearly plunged the global banking system into the abyss and here we are 15yrs later and commercial real estate is likely to do the same, but what makes this worse now is is the US national debt has grown by an additional $14 trillion and a bailout of the banks again for their risk taking isn't an option 🏦 💰
It's always an option with the people currently in office. Buy assets.
(7:40) This. This. This. ... (11:38) And, This. This. This. ... The market has yet to provide businesses with a good reason--a real comparative edge--for bringing their staff back into the office.
Dr. R. 4 the Nobel Prize. The Ultrasound Cure Genius. Lets Cure Mountaineers.
Higher interest rates aren’t determining where we work. The ability to work remotely is.
But higher interest rates are destroying commercial real estate business models built on debt.
The Federal Reserve’s manipulation of interest rates and liquidity caused this situation.
Well assuming rates were always going to stay low is also a problem and those commercial real estate developers took that risk. If they did not consider that risk then let them fail
@@lucid685 agreed.
But government shouldn’t be manipulating rates. Lulling people into thinking rates will always be low is bad.
For decades, people took risks based on low rates and those who avoided reliance on low rates essentially stayed out of things like commercial real estate. The low rate environment TRAINED entrepreneurs to depend on low rates.
It’s STILL their responsibility. Or, rather, the BANKS who will stuck with these properties.
Or, rather, the taxpayers who will be stuck bailing out the banks.
Darn. It’s back to me and you and everyone else who had no idea what the government was putting us on the hook 🪝 for.
Why use office space when everyone works remotely simply with their computer. Maybe it's time they switch these spaces to apt spaces and make them useful
IS the Alzheimers treatment now available everywhere? This is the first time I have heard of it.
Everyone should know about it. The outcomes for all the treatments are great.
When 60 min does non political topics, they do a good job!
The rich businessmen have had it too easy for a long time, and now they will have to accept less and work harder, and do the same thing they have told the workers at the bottom to do. So be nice to the people you meet on the way to the top because you may meet them on your way back down.
Hahahaha safe to say, he will still be much much richer than you 😂😂😂😂
Not every office building is suitable to repurposing.
One can work a mid rise , mostly those old pre war buildings.
Newer buildings , with large floor plates , and core shafted, over 6,000 sf per floor , are a no go. They generate a lot of wasted space.
Also residential units demand large window frames and lots of daylight exposure. Many newer office buildings , they use glass plates to cover the entire e ternal perimeter. There has yo be a clear definition between glass and masonry.
The ideal scenario:is to take up an outdated office building and repurpose it, where it makes financial sense.
Crime, drugs, traffic, crowding, insane gov't taxes, regulations, and beaurocracy stifling small businesses....why would anyone pay the outrageous prices to be there when they can just as easily work safely from home with no commute into a dystopian jungle?
U missed the part about commercial 12:27 landlords inflating the size of their spaces by 20%.
This is what Dr. Ben Carson was supposed to be heading up as he was "the first"
Neurosurgeon to separate Siamese twins.
He was suppose to build a school to support at risk Black youth as he once was.
He threw it all away to fit in with the wrong crowd.
He got robbed.
Wait... WHAT?! You really mean, that... *people* could live within the central area of... A CITY?!? That's a whole new concept!!🤯🤯🤯
Give the empty office space to artists. Support artists. ❤
Artists want cheap rent. It worked in NYC during the 50’s as factories were pushed out of Manhattan.
No landlord in its right mind will give a lease to an artist. Just on the account of condo and tax charges , it is already beyond affordable to an artist to meet monthly expenses.
Thank you all for this great 60 mn program. Many people made this excellent program possible. The USA is a great country with brilliant scholars who can do their research and help people. I went to WVU and I am proud of Dr. R. BEAUTIFUL MIND. I love being here. I learn something new every day. Dr. R. 4 the Nobel Prize.
7:42 According to this guy, it's just as bad as the fentanyl crisis.
Some of those buildings could be colleges but even then learning is becoming more and more virtual
Jordan Belfort was right!!
Please ultrasound my brain
Maybe a lot of that office space can be turned into residential apartments. Seems like a win to me.
Cocoa butter is 80% off 😂
"It's also been bad for his stock price"
O man 😂
There should be laws against LLCs unlimited liability companies owning Real Estate apartments then price gouging even though their mortgage rates stay the same , their mortgage stay the same during inflation
Work from home, yes and yes!
Draconian lockdowns have consequences. The days of property owners gouging business owners are over. Just look at the rent prices in NY. Ridiculous! Property owners would rather keep it vacant than lower the price to a reasonable number. Same with storefronts. 30k a month for a shoebox? 🤦 Of course you didn't ask any of them what they were charging.
ALL THINGS CHANGE! In the coming decades we will see massive changes to the way people work and live and the way our children go to school, think about the all money you could save and the traffic congestion, environmental pollution, oil consumption we could achieve by have 3 DAY WORK WEEKS and SCHOOL WEEKS, the possibilities are ENDLESS, convert these buildings into LOW COST HOUSING
I got a good suggestion, by turning the empty city to a drug rehabilitation centre and refugee centre would solve the homeless people problem,
Who is paying rent ? The city ? Yeah right.
7:42 🤣🤣🤣🤣Tell us how you really feel.
Work from home works it keeps more money in the home owners pockets cause they only either pay one rent or no rent at all depending on if they pay rent for home or they rent their homes either way more money can now either be used for leasure or spend on home owners kids and own house.
A positive city to live in plus our politicians who don’t care about any thing but themselves.
Can this be used for tinnitus?
What people in 1st world don’t realise is that WFH sounds good now however employers will not be even more tempted to hire from an abroad cheaper country for the same jobs. They could cut HR costs by 40% which is a very very lucrative offer. I think we r working our way out of jobs.
This is sad it what’s happening everywhere the real world is empty while everybody does everything from a computer.
Anybody know any books,articles,website, videos about commercial real estate I would like to gain some knowledge before I invest in some commercial property
To put this on another level. As prime office space, you will have prime residential housing with all the above amenities and more. I predict this will become the future of some commercial space. The other side. Not everyone desires to work from home. some people (with children) like being away from home as a break. Remember we are People with differences. This makes us unique. You will always have commercial office space... Just not as much. Making commercial space a premium in itself.
remember how all this people and Real State raised the prices of units during the pandemic to a point that lots of us end up on the street?, now all those places are losing money, greedy consequences
Billionaries en real estate en NY, San Francisco others cities, they increase and increase prices in rents until they put half the people homeless and they complain now they do not find people to pay the prices . Leave affordable prices and will work.
"we invest a lot of equity. If it works we make a lot of money. If it doesn't work; um; the lender can; take over the building"
Let me help. If it works. You make A LOT OF MONEY. If it doesn't work. You lose nothing and taxpayers cover the loss in the form of the pending bail out.
Gotcha. CAPITALISM! 🤣
Commercial real estate owner says work from home is “a societal problem”. 🙄
The law needs to change. They need to allow office space to be convert to living quarter.
This is a bad news for the riches who put all their asset and investment in high rise commercial building to show off their pride of owning the skyline of the city,
That sounds so awesome and amazing and great I'm great and glad to hear that the economy and the people and the businesses in New York are doing so well happy for all of you thank God I'm not there
are banks becoming EXTINCT?
is labor becoming more comfortable
is homelessness becoming the NORM
So why are we not using this ultra sound treatment on a much larger group of addicts especially those with "end stage addiction" ??
This video was NOT ABOUT COMMERCIAL REAL ESTATE!
Convert these offices into residential space for remote workers. Everybody happy ❤. Just don't feudal jack up the price to commercial pre-pandemic value.