Working from home could wipe $800 billion from office values globally | CNN Business
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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.

  • frezik@midwest.social
    8·
    1 year ago

    Sunk cost fallacy. They have the space, and dammit, they need to use it. This will continue for the next few years when the leases begin to expire.

    • Alexstarfire@lemmy.world
      2·
      1 year ago

      Definitely true for the company I work for. They own the buildings. Great idea when people can’t in an the time. No dealing with lease increases and other landlord BS. Not so great when everyone is WFH and is difficult to sell.