01/14/2024: Commercial Real Estate and Master of the Mind
60 Minutes
CBS News
4 • 2.4K Ratings
🗓️ 15 January 2024
⏱️ 45 minutes
🧾️ Download transcript
Summary
With hybrid work hardening from trend to new normal, correspondent Jon Wertheim looks at the crisis in commercial real estate, specifically in New York City's office sector. As occupancy rates have hit historic lows and interest rates have spiked, the value of office buildings is tanking. It's a growing problem nationwide, with more than a trillion dollars in commercial real estate loans set to expire in the next two years. Wertheim speaks with industry players about how they're staying afloat in a sector of the economy that's been rocked to its foundations. Correspondent Sharyn Alfonsi reports on a groundbreaking approach to brain surgery that could revolutionize the treatment of Alzheimer’s disease and drug addiction without any incisions. Alfonsi follows neuroscience pioneer Dr. Ali Rezai for more than a year as he tests experimental procedures at the Rockefeller Neuroscience Institute in Morgantown, West Virginia. The results of Rezai’s clinical trials are changing the lives of his patients and may offer hope to others suffering from brain disorders.
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Transcript
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| 0:40.0 | Don't miss true crime anytime you want anywhere you go with the 48 hours |
| 0:45.5 | podcast real crimes like a John Grisham novel come to life real lives he pointed a gun to me and said this is the day you die. |
| 0:55.0 | And he shot me. |
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| 1:01.0 | I'm an innocent man and I hope the whole world can see it now. |
| 1:04.4 | Catch the latest episodes of 48 hours wherever you get your podcasts. What is New York City without its skyline? |
| 1:16.0 | Monuments to commerce standing proudly shoulder to shoulder. |
| 1:23.2 | More office space than any city in the world. |
| 1:26.2 | But peak inside all this vertical real estate, |
| 1:29.0 | and there's a fundamental question. |
| 1:31.2 | Where is everyone? More than 95 million square feet of New York office space |
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