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| Re: WFH (2005936) | |||
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Re: WFH |
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Posted by Peter Rosa on Wed Nov 20 14:58:28 2024, in response to Re: WFH, posted by AlM on Wed Nov 20 12:43:30 2024. Traffic is up to 85% of pre-pandemic levels.- Office buildings weren't 100% full pre-pandemic. - Lots more people are coming in 3 days a week. - Lots of employers are reducing square feet per employee, independent of covid. (My company has cut its space by about 50% in 8 years, even though people are expected to show up 3 days a week.) Big difference. Which doesn't mean that Peter Rosa's disastrous view is correct either. The big question, for which an answer may be still sometime off, is whether these occupancy levels will be enough to stave off a wave of commercial real estate loan defaults as leases expire and rent revenues drop. Given the long duration of commercial leases there surely are many businesses that will downsize their space requirements once freed from their lease obligations. How many and how much is still unknown. |
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