American office delinquencies are shooting up

Sep 5th 2024

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Washington, DC

American offices often break records. Tech firms mark their progress with ever more outlandish designs. Manhattan blocks vie to be the tallest. This year, though, a worse kind of record has been broken. Offices have hit a 20.1% vacancy rate, according to Moody’s, which is the highest since 1979, when the rating agency began to keep track.

This article appeared in the Finance & economics section of the print edition under the headline “Long time coming”