WeWork bankruptcy

[researcher]

Residential side we are actually OK as many have refi to 2-3% mortgage. Unless we tore down a lot of offices to turn them into condos, townhouses, single family homes, then we will definitely have some collapses.

In my area we see a lot of 1/F and 2/F office parks get torn down and turn into 5/F apartments.

What does 1/F and 5/F mean? I tried to search online came up with nothing..

 

[fantastic]

Anyone who actually things we are not going down a 2008 x 10 scenario...is kidding themselves.

The regular household is in way better shape then the 2008 financial crisis situation.

 

[Number_35]

What does 1/F and 5/F mean? I tried to search online came up with nothing..

I read it as1-floor* and 2-floor* commercial buildings being replaced by 5-floor* residential buildings.

* or storey

 

[researcher]

I read it as1-floor* and 2-floor* commercial buildings being replaced by 5-floor* residential buildings.

* or storey

hey thanks! Now I understand that..

 

[cptbarkey]

I helped my company shift an office and downsize at the same time. We looked at Wework in Austin TX in late 2019 and it was 1) expensive 2) not convenient 3) no privacy options for workers 4) IT infrastructure was lacking

It was far down at the stack rank out of 10 places we compared.

We picked about 5 rooms at another location, covid hit, then nobody came anyway, so we were able to shave down the rooms over time, until none about 1.5 years into covid.

 

[VTECOverRated]

The regular household is in way better shape then the 2008 financial crisis situation.

HAHAHAHAHAHHA

 

[VTECOverRated]

Please, this company was a scam from the start, there's an American Greed episode on it.

Which company is not?
Once a wise man said, when you see a rapid rise in fraud on TV, you know the crisis is around the corner.
There is at least one new company that is a fraud from the start on TV every single day for the last 2-3 years.

 

[zzyzzx]

Looks like it's chapter 11, not 13:
https://wallstreetai.substack.com/p...apter-proceedings-aims-to-cut-billion-in-debt

WeWork Takes First Step in Chapter 11 Proceedings, Aims to Cut $3 Billion in Debt​