Not likely, and there’s a…well, not really good…maybe understandable, or relatable… reason for it.
It has to do with the cost of commercial real estate, and the government being a barometer for private sector.
If the government says “everyone RTO”, companies be like “cmon that means us too”. Especially so for government contractors.
But if people stay remote…then there’s no need for these big buildings in cities. So they sit vacant or underutilized. And then there’s a surplus of commercial real estate, and the commercial real estate sector falls in on itself, and a bunch of other bad things happen.
But wait, there’s more.
Why live in expensive, densely packed, overpriced cities, if not for being in close proximity to high paying jobs? Likely what would follow is urban residential and MDU/MFU values tanking as there’s an exodus from cities and nearby towns. And while that might be good for people who don’t own property, a lot of people, especially middle-class people in commuter-ville, will probably be losing their nest-egg. More than likely to be picked up cheap by somebody to build a warehouse or a datacenter or luxury condos or something. Something that takes up a lot of space but doesn’t need a lot of staff.
Not likely, and there’s a…well, not really good…maybe understandable, or relatable… reason for it.
It has to do with the cost of commercial real estate, and the government being a barometer for private sector.
If the government says “everyone RTO”, companies be like “cmon that means us too”. Especially so for government contractors.
But if people stay remote…then there’s no need for these big buildings in cities. So they sit vacant or underutilized. And then there’s a surplus of commercial real estate, and the commercial real estate sector falls in on itself, and a bunch of other bad things happen.
But wait, there’s more.
Why live in expensive, densely packed, overpriced cities, if not for being in close proximity to high paying jobs? Likely what would follow is urban residential and MDU/MFU values tanking as there’s an exodus from cities and nearby towns. And while that might be good for people who don’t own property, a lot of people, especially middle-class people in commuter-ville, will probably be losing their nest-egg. More than likely to be picked up cheap by somebody to build a warehouse or a datacenter or luxury condos or something. Something that takes up a lot of space but doesn’t need a lot of staff.