Working from home could wipe $800 billion from office values globally
Working from home could wipe $800 billion from office values globally
www.cnn.com Working from home could wipe $800 billion from office values globally | CNN Business
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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Good. Capitalism dictates they adapt or die.
Adapt into apartment buildings maybe?
Nice, drive up housing supply while correcting an excessive office supply. Sounds good to me.
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