Working from home could wipe $800 billion from office values globally
Working from home could wipe $800 billion from office values globally
Remote work risks wiping $800 billion from the value of office buildings in major cities worldwide by 2030 as the post-pandemic trend pushes up office vacancy rates and drives down rents, according to a new report.
McKinsey said cities could adapt to the declining demand for office space by “taking a hybrid approach themselves,” developing multi-use office and retail space and constructing buildings that can be easily adapted to serve different purposes.
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I don't understand why corporates are so against the idea of savings millions of dollar in office spaces. More people working remotely mean smaller office required, cut on office supplies and utilities bills. Higher employees moral, motivation, and productivity.
What are so bad about all that? Just because the boss can't spy on their employees and assert their authority ?
The guy next to them in the circle jerk is a commerical real estate Holder and they don't want they dick goin soft
Just because the boss can't spy on their employees
Even this is no longer a valid justification. Activity monitoring software installed on companay provided computing devices used by remote employees has been around for a while and is gaining in popularity. They don't even need physical presence to spy on employees.
So, its even more confusing why corporations are so against the idea of remote work.
Yea that software means a hard pass from me taking a job offer.
It demonstrates a fundamental lack of trust unless they are gonna let me spy on everyone above me on the ladder as well.
Sunk cost fallacy. They have the space, and dammit, they need to use it. This will continue for the next few years when the leases begin to expire.
Definitely true for the company I work for. They own the buildings. Great idea when people can't in an the time. No dealing with lease increases and other landlord BS. Not so great when everyone is WFH and is difficult to sell.