Austin now has the highest office vacancy rate in the US, at 26.8%. What went wrong? It had one of the lowest rates just a couple years ago. And this is despite Austin being much cheaper than other locations. Austin office space averages $82.69 per square foot per month ($890 per square meter) compared to $250 per square foot in Manhattan (13.4% vacancy).So, even though Austin is beating most other cities on price, it still isn't attracting corporate clients. A sharp reversal from the 2010's and early 20's. What happened?
>>524550893Texas here. Remote jobs killed the office drones.
>>524550893Because Dallas exists
Turns out people dont want to live in a crime ridden shitskin area.
