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Re: Very Pessimistic About 2024

Posted by AlM on Fri Dec 29 15:37:47 2023, in response to Re: Very Pessimistic About 2024, posted by Peter Rosa on Fri Dec 29 15:32:51 2023.

My view is that while hybrid work is less economically destructive than full-time WFH

But it isn't less destructive to the real estate industry. My employer has managed almost all the space reduction they could achieve, while still mandating extensive presence at the office.

If they had X square feet to begin with, now they only need maybe 0.4X square feet. They can't reduce below maybe 0.2X square feet no matter what, so they've achieved 75% of the possible reduction already, without allowing WFH.

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