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.

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.

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.

I FEEL ZERO PITY FOR NEW YORK LANLORDS 😮

The billionaire owning office buildings says “Work from home” is “dangerous for society”. Weird pronunciation of “dangerous for my wallet”.

Working from home is good for the environment. I never hear that discussion.

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

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!

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.

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".

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.

Empty office space. Housing shortage. Could be converted to housing. Nah...makes too much sense

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

What a great man Dr. Rezai is. He and his team are giving millions of people hope for the future.

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!

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 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.

Bless this neurosurgeon. XO

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.

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.

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

GOOD LUCK DR.RAI

00:08 New York City's commercial real estate faces challenges with high vacancy rates and changing work dynamics. 02:38 New York City's office real estate faces significant challenges. 07:03 Occupancy rates crucial for commercial real estate success 09:08 Commercial real estate crisis looming with soaring loan delinquency rates. 13:30 Urban real estate offers potential for reimagining and repurposing. 15:53 Using ultrasound to slow down Alzheimer's disease progression. 19:54 Dr. Rai's team used ultrasound to treat Tremors and other brain disorders. 22:01 Dr. Rai hopes to slow the progression of Alzheimer's disease 26:12 Ultrasound treatment shows promise in clearing plaques related to Alzheimer's disease. 28:14 Dr. Rai's new way to use ultrasound to reset the brain and help people suffering from drug addiction 32:38 Brain implant used to fight addiction 34:43 Implant with electrical pulses to suppress cravings 39:04 Ultrasound therapy shows promising results in reducing drug cravings and anxiety. 41:12 Research and replication are essential in pushing forward with risks needed for finding solutions

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 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..

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.

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.

Im really wealthy you guys! I buy real estate all the time. I play alot of golf too ⛳. Im super duper rich.

Love 60 minutes. The last bastion of Real Old Fashioned, investigative reporting.

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.

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.

This medical science is amazing!!!

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 LOVE THIS COUNTRY!!

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!

Amazing what just sound can do. Not sound that can be heard but that can have that much of affect on multiple problems

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

Fascinating episode

As always, top notch. And Dr. Rezai, ward up mate, ward up.

"It's also been bad for his stock price" O man 😂

Amazing doctor!

Thank u for giving all is us hope thank u

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 🏦 💰

One shoulder injury leads to years of addiction illness for our strongest youths is a startling tale.

I watched a lot of Lewis rossman's videos before he left New York about the real estate very interesting!!

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

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

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.

Sorry for the naive question why they didn’t convert these empty spaces to residential apartments?

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.

Some of those buildings could be colleges but even then learning is becoming more and more virtual

U missed the part about commercial 12:27 landlords inflating the size of their spaces by 20%.

Dr. R. 4 the Nobel Prize. The Ultrasound Cure Genius. Lets Cure Mountaineers.

Tks a lot :)

They must must must make ultrasound for addiction widely available!

Cocoa butter is 80% off 😂

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

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.

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.

That’s awesome god bless our doctors

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.

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.

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

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.

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.

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.

Master of the Mind = A M A Z I N G ! ! !

Please ultrasound my brain

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

Jordan Belfort was right!!

(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.

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.

People don’t want to work in an office and do not care about your stock value. We are not your commodity.

Wait... WHAT?! You really mean, that... *people* could live within the central area of... A CITY?!? That's a whole new concept!!🤯🤯🤯

7:42 🤣🤣🤣🤣Tell us how you really feel.

Commercial real estate owner says work from home is “a societal problem”. 🙄

Maybe a lot of that office space can be turned into residential apartments. Seems like a win to me.

Can this be used for tinnitus?

God Bless those doctors 🥼 pushing forward to save lives. Every live is important and a gift

Sachler family should be responsible for paying for this treatment to every drug addiction they caused

Are there risks involved when exposed to the ultrasound for long periods of time?

The law needs to change. They need to allow office space to be convert to living quarter.

"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! 🤣

When 60 min does non political topics, they do a good job!

So why are we not using this ultra sound treatment on a much larger group of addicts especially those with "end stage addiction" ??

I got a good suggestion, by turning the empty city to a drug rehabilitation centre and refugee centre would solve the homeless people problem,

PFIZER sponsors everything!

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.

33:10 dayum my man is a celibate cyborg. Off drugs I mean.

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.

This is sad it what’s happening everywhere the real world is empty while everybody does everything from a computer.

Thanks for the comment. 😊

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.

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

Science is so cooooooooolllllllll🎉🎉🎉🎉🎉

Commerical turns into mixed use residential 🤯

"Coco butter is 80% off"😂😂😂