politics

So what? The market decides what is needed or not. Business need to stop whining, stop with the silly 'return to office' mandates that are killing their productivity and reducing their quality of talent, and adapt.

It's business. Adapt or die.

Oh no, more space that could be transformed into housing.

What about how much pollution, stress, accidents leading to insurance claims, that will eventually be saved by not having millions drive and live in traffic everyday?

What about that McKinsey?

Oh no. Anyway

They could use them for retail or…they could re-zone these areas for residential housing and reduce the cost of renting or buying a home, but that would make too much sense.

Ok so for the pros of working from home that's:

• lower demand for prime real estate downtown
• less environmental impact due to daily commutes
• less employee time wasted due to daily commutes
• more comfortable and familiar work environments
• less business overhead associated with running a permanent office
• more reasons to do company events or retreats in interesting environments
• better accesses to a broader pool of talent
• more/cheaper housing options for people to live outside of cities
• less traffic and traffic accidents, with lower demand for cars and parking in city centers

But let's not forget the big cons of work from home too!

• your inferiority complex-having superviser/boss/manager doesn't get to feel powerful and important by performing workplace theater while breathing down your neck constantly or counting your keystrokes.
• you don't have to pretend to like the people you work with every day, but only some days.

Of course it could. I guarantee if you look at all the “return to work or else” CEOs they are all heavily invested in commercial real estate.

I don't understand why corporates are so against the idea of savings millions of dollar in office spaces. More people working remotely mean smaller office required, cut on office supplies and utilities bills. Higher employees moral, motivation, and productivity.

What are so bad about all that? Just because the boss can't spy on their employees and assert their authority ?

And this is exactly why board rooms are demanding a return to office. The wealthy people who run companies are invested in commercial real estate.

Insert the "it's free real estate" meme here

If businesses can run without $800 billion tied up in assets, not only should they, the market dictates that they have to. Sorry landlords, sucks to suck.

"So yeah, if all you peasants could get back in the office, that'd be greeeeeeat."

I see this as an absolute win

Oh darn. All those REITs and capital funds.

Do they really still have that value if we have to reorganize our comfortable lifestyle in order to keep it? Seems like that value was already lost during the pandemic and they are trying to pass the loss on to the workers

There is no value lost unless you're an owner being forced to sell. Employment space is not worth anywhere near what the value of housing is. Call this what it is, a market correction.

That's right all the money and time we've all spent on commutes was a subsidy for commercial real estate out of our pockets.

Good. Capitalism dictates they adapt or die.

So you're saying WFH both reduces carbon emissions and frees up real estate for affordable housing?

Think of how much value was wiped off the horse industry after the horseless carriage.

Most companies are trying their best to get people back in the office, but this strategy is tough to pull off with other companies poaching talent by just not caring.

🎻

Sounds like the march of technology continues. When cars became common, did Big Horse whinny about it? When the printing press hit the scene, did we mourn for the loss of monk jobs? Why should we care about people caught holding the bag when we no longer need a building? That's their gamble and they lost.

Fuck McKinsey. Seriously. Fuck those guys with a 3 foot piece of 1 inch rebar.

Too bad it's not doing the same to Residential Real Estate. Seems like every country around the world is getting absolutely fucked by old people.

Working from home is a net cost cutter, if done right. It will take a while for us to adjust though. Workers who game the system from home are the same ones who game the system in offices. Then too, boss suck-ups will have a bit harder time getting ahead while working from home.

People should put pressure on employers to let them choose if they want to work from office, or home. Homeoffice FTW!

McKinsey expects landlords to do real people work and innovate?

Have they met landlords?

Listen, we bailed the banks out once.

If you make a bad investment, you make a bad investment. Literally, eat it.

Well the report is from McKinsey so take it with an office building sized grain of salt.