WeWork: An office real estate bubble bursting?

The biggest financial backer of WeWork, the real estate and co-working company, scaled back a planned new investment from $16 billion to $2 billion, said Lionel Laurent and Marcus Ashworth in Bloomberg .com. Investors in SoftBank, the Japanese company that has funded WeWork’s expansion, were relieved at the “sudden bout of prudence.” The nine-year-old company continues to lose money even as it expands into residential rentals and education and rebrands itself as the We Company. SoftBank’s pullback from WeWork could be a “turning point not too dissimilar to past real estate bubbles.”