Co-working companies mostly cater to smaller businesses, which could wreak havoc to commercial real estate during a recession, the president said.
The rise of the co-working business model employed by companies like WeWork poses"a new type of potential financial stability risk," Boston Federal Reserve president Eric Rosengren said in a speech at New York University on Friday. The office providers often serve smaller and more vulnerable companies, which could cause a mass exodus from commercial real estate should a recession hit, the president said.
The rise of the co-working business model employed by companies like WeWork poses"a new type of potential financial stability risk," Boston Federal Reserve president Eric Rosengren said in a speech at New York University on Friday. The office providers often serve smaller and more vulnerable companies, which could cause a mass exodus from commercial real estate should a recession hit, the president said.
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