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Technology and real estate - perfect together!


While the truth is made clear by ghost town-like Wall Street office buildings, not to mention the plethora of commercial real estate developers shutting down, someone clearly forgot to inform the tech firms about the current state of the real estate market. Other industries may be busy jettisoning every extra square foot of space possible, but tech firms are at the other end of the spectrum – specifically, many are gobbling up office space as fast as they can.

Take Google for example.  At a time when banking and financial firms are right-sizing like never before, Google Inc. is picking up space across the country.  In fact, the company is in the process of increasing its office space by 30%-50% in a number of cities across the US.  Other organizations may be trying to test the limits of cramming employees into limited spaces, but Google employees continue to use scooters to get around their lavish Mountain View campus. And at a point where interior decorating is the last thought on anyone’s mind, Google is setting up a jungle-themed café, complete with caves and hanging fake vines.

Banks are hoping that the incentive payments will cut out resistance from homeowners and offer up the best solution for all. It is a win-win for the banks, particularly because they skip out on a potentially long legal battle on the one hand, and take advantage of making a better deal through a short sale on the other.

Of course, Google is just a case in point. Other Internet based firms like Apple, Amazon and many others are not far behind in this expansion game. They provide a welcome ray of hope and vitality in stagnant period for the rental property and real estate market. For more on this story, continue reading by clicking here.

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