A shift to remote working is likely to wipe off $800 billion from the value of office buildings in major global cities by 2030, according to a study published by consulting firm McKinsey on Thursday.
But they totes need us to show back up because communication or performance or something.
And nothing of actual value will be lost.
Do you have a pension, as a lot of pension funds are tied up in this kind of stuff. Not that I personally would ever go back to full time office work, but things have knock on effects.
If their asset managers are clued in they will divest before it becomes a problem.
Good. Property values are a necessary evil in our economic system to allocate finite amounts of land. Unlike say the value of a company that makes things, which reflects the utility gained from it’s products, property values mostly represent scarcity, falling property values therefore indicates that we have partially mitigated that scarcity.
Oh NO!! Anyway, I hope we can save several landmark venues where amazing bands play instead of tearing them down for a new mega structure.
Good. Convert 'em into cheap housing instead.
Turn all that space into something useful instead of concrete.
Using existing buildings for apartments would be great for the housing markets. For example, a building that used to be used for a TV broadcasting company in SF was turned into pretty nice apartments at relatively reasonable prices. Much better use for the buildings than empty offices.
Ok, the old system wasn’t good for anyone not already rich. I’m it interested in going back to try and save it.
Turn those into high density affordable housing with walkable amenities. I don’t care the cost, the QoL improvement for the citizens is worth it
Good.
I’m used to there being a “but…” at the end of headlines like these. Where’s the bad news?
