This has had an understandable impact on office values, which fell considerably and remain below 2019. The author believes these valuations will remain below those levels for the next decade.
Simulations of office values, that took into account remote work rates, show that the value of all NYC office properties dropped by more than 40% in 2020. Predictions for 10 years after the shift to working from home suggest that office values in 2029 will remain an average of 39% lower than they were in 2019.
Yup. It’s all about that sense of control. That’s what they’re paying for. I saw a quote from a survey of execuitives: “I don’t know if my employees are walking their dogs for 4 hours per day when they’re working from home, but I know they can’t walk their dog when they’re in the office”.
Keep in mind, business execuitives are known to believe shit like, “when I go to the gym, that’s work, because I need to be healthy for the business”.
They believe they own us. They believe they deserve to.
But there’s literally no reason to end that if staying home still gets work done
Office real estate.
https://www.forbes.com/sites/adigaskell/2023/03/05/how-remote-work-has-affected-real-estate-values/
It doesn’t give the same feeling of power to the people in charge if they don’t see the
dronesworkers sweat.Yup. It’s all about that sense of control. That’s what they’re paying for. I saw a quote from a survey of execuitives: “I don’t know if my employees are walking their dogs for 4 hours per day when they’re working from home, but I know they can’t walk their dog when they’re in the office”.
Keep in mind, business execuitives are known to believe shit like, “when I go to the gym, that’s work, because I need to be healthy for the business”.
They believe they own us. They believe they deserve to.