RE: Commercial Real Estate Crash: Building In St Louis Sold For $3.5M
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The thing is, for the companies that embrace WFH, the cost savings are incredible. Building rental, heating, cooling, cleaning are all expensive...
Very true.
In the US, a lot of the leases are long term. Some go out as long as 20 years. So the companies are stuck on that end. Why they dont save on the other stuff you mentioned by keeping them empty is beyond me (in the cases where they dont leave them empty).
I agree with the soul sucking aspects of commutes. People easily spend 10 hours per week commuting, on top of their work hours.
It is a massive drain. There is no way the future is one where offices in down town areas are full of employees. I have a feeling we will see a steady decline.
As companies that embrace WFH find themselves more productive and profitable, the market will decide that office spaces are a waste of resources.