https://fortune.com/2023/05/25/office-space-crash-harder-than-expected-remote-work-economy-cre-crash/

“The key takeaway from our analysis is that remote work is shaping up to massively disrupt the value of commercial office real estate in the short and medium term,” the authors wrote.

:sicko-hexbear:

The authors found that higher quality buildings, a.k.a. buildings with higher rents that were built more recently, “appear to be faring better,” which they claim is consistent with the notion that companies have to improve office quality for workers to want to come back.

:porky-scared-flipped:

  • EnsignRedshirt [he/him]
    ·
    2 years ago

    It must be getting bad if the media is saying it out loud. This has been an inevitability since the moment everyone figured out, through firsthand experience, that 90% of the work that gets done in one of these offices can be done from anywhere, but the big commercial real estate groups have been fighting a PR war to get people back to the office.

    And it's no surprise they've been trying. Remote work is pretty much a pure efficiency gain. Workers get more flexibility, more options, and spend less time commuting. Firms also have more flexibility, more options, and lower overhead costs. This is a situation where even the cruelest and/or stupidest employers can't argue with the math. You might want your employees to all be in a big dumb terrarium where you can watch them work, but it's going to cost you money and opportunities, and pretty quickly someone who only looks at spreadsheets is going to tell you that they aren't going to sign off on the new office lease because remote work is going to save a dollar.

    • Victor_Lucas [he/him]
      ·
      2 years ago

      Proving that we only need to get lucky once :party-sicko:

      The Chinese working class flexing on American workers will make the supremacy of socialist transition undeniable

      :sicko-spin: :meow-knife-trans:

      Capitalists bombed millions to stop the threat of a good example

      :sicko-speeeeen: :cat-trans: