Working from home could wipe $800 billion from office values globally
Working from home could wipe $800 billion from office values globally
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.
You're viewing a single thread.
So what's the downside?
People would also pay less for home.
Again I ask, what’s the downside?
People have more time for themselves by not commuting?
The downside is that WFH is an extremely competitive market. It is incredibly difficult to snag a remote job for a company you do not currently work for or have never worked for.
My friend has switched jobs twice, both WFH gigs, since the pandemic. She didn't seem to have too much trouble. IDK his good she is in her field though. She handles hiring people.
She likely has had experience with WFH before which makes it easier, but I can still tell you that she probably applied to like 500+ different places to get those interviews.
Not before COVID.
Sadly true. It is telling that there are so many more people wanting 100% remote over in office. I wonder if HR has cottoned on to the reason for the difference in application rates?