The research firm’s top property economist likens the decline in office demand to what malls have experienced over the last six years—and sees a similar outcome.
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One of the first places I lived when I moved out of my parents house was a converted hotel in a really old part of Los Angeles. My studio unit had a bathroom, but no kitchen. I lived off of microwave Trader Joe’s meals and stuff I could cook on a foreman grill. Cheaper units were basically just bedrooms that shared communal restrooms. We may be seeing more of this setup in the future.