Investing
Offices Across America Must Be Torn Down, Says Investor Who Won Big in 2008
- Office vacancy rate in the US has climbed to 20.2% in 2023
- Financing for residential building is tepid despite demand
This article is for subscribers only.
Kyle Bass has some advice for real estate investors: Tear it down.
The founder of Dallas-based Hayman Capital Management says office buildings in cities need to be demolished because demand isn’t returning and it’s impractical to turn most towers into apartments.