Remote Work to Wipe Out $800 Billion From Office Values, McKinsey Says
Remote work risks wiping $800 billion from the value of office buildings in major cities, highlighting the potential losses that landlords are facing from post-pandemic changes in employment trends.
Ftfy - Irrelevant industry failed to adapt to technology available for decades thanks to overall ineffective managers in businesses.
Those same managers are rallying to get people back into offices to mixed results. Some staff will come back but others are quiting to go and work for remote businesses. The next 3-5 years are going to be interesting.
Sure, that doesn't change the economic fallout from this maladaptation though.
Good. Build housing instead. Already starting to see a lot of converted offices into living units show up
epic
B-but think of the landlords!! /s
Maybe we can help them out with taxpayer money? It's time to give something back to these fine good people.
I mean that's obviously what's going to happen in the end. Massive bailouts for the landlords and massive austerity for the working class.
Hope it wipes it all out.