Recent bank failures have handed the Fed an unexpected and powerful ‘messaging’ gift.

The message?

Spend, lend and invest at your peril.

The audience?

Everyone.

There has been a seismic shift in the ‘narrative’.

A thread 🧵… 👇👇👇

1/.

open.substack.com/pub/cubicanaly… 2/.

As @EpsilonTheory is fond of reminding us, narratives matter.

What is the new narrative?

Well Eeyore, the gloomy donkey from Winnie the Pooh, sums up the new narrative quite nicely:

“It’s all for naught.

The sky has finally fallen.

Always knew it would.”

Office Buildings: Navigating out of the Bermuda Triangle. 🤔

Tenants are fundamentally reevaluating ‘why’ they need office space, how much space they ‘need’ and what kind of buildings they ‘want’ to be in. 👇

A thread 🧵 … 👇

#realestate #markets linkedin.com/posts/davewald… 2/.

‘Best in Class’ and ‘Flight to Quality’ are being redefined.

The race is on to find the new ‘formula’ to attract and retain office tenants.

The winners will survive.

The losers will be converted, abandoned or demolished.