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I think it's clear to see that corporate real estate is going through a paradigm shift. Before this crisis, I remember Stripe was having a lot of trouble findin

I think it's clear to see that corporate real estate is going through a paradigm shift. Before this crisis, I remember Stripe was having a lot of trouble finding a big enough space in SF before deciding to move to South SF. What if Stripe just didn't have a big office and expected most of their base to work from home? What isn't clear to me is what happens to residential real estate. Sure, some of us, who would prefer to live in suburbs out where it's cheaper, or maybe in comitted relationships with kids would prefer that. But I don't think the the group of people who are maybe single, or prefer the recreational aspect of living around people in a city would go away. There's a balance which isn't immediately clear to me. If more people exit the city, does this effectively reverse a lot of the gentrification we are seeing and sharply stop growth? Or if it goes the other way does the city become more exclusive for those who want to live there?

Consultant32452 6y ago
I can add an anecdata to your suggestion. I work at a fortune 500 financial company. Our CEO recently had a town hall and discussed having a total 180 about remote work. He had been against it and didn't believe it could work. Being forced into it caused him to see the proverbial light. They stopped plans to open another office in NY and would be aggressively embracing more remote work regardless of covid.
tinyhouse 6y ago
There will always be places that are safer, more fun, better schools, etc. Proximity to work opportunities is only one factor. Also, commercial real estate can shift to co-working spaces which will have higher demand as more companies move remote (many people prefer that than working from home, esp if it's a short commute and paid by their company). I think the biggest impact would be on the suburbs as families would have more flexibility in picking where to live. We'll likely see some price drops but as he mentioned I don't think we will see dramatic price drops. Not to mention that most companies still plan to go back to the office when things reopen. Might be too early to make predictions about remote work.
- nemothekid 6y ago
  It would be funny if WeWork comes out ahead after all this.

Consultant32452 6y ago

I can add an anecdata to your suggestion. I work at a fortune 500 financial company. Our CEO recently had a town hall and discussed having a total 180 about remote work. He had been against it and didn't believe it could work. Being forced into it caused him to see the proverbial light. They stopped plans to open another office in NY and would be aggressively embracing more remote work regardless of covid.

tinyhouse 6y ago

There will always be places that are safer, more fun, better schools, etc. Proximity to work opportunities is only one factor. Also, commercial real estate can shift to co-working spaces which will have higher demand as more companies move remote (many people prefer that than working from home, esp if it's a short commute and paid by their company). I think the biggest impact would be on the suburbs as families would have more flexibility in picking where to live. We'll likely see some price drops but as he mentioned I don't think we will see dramatic price drops. Not to mention that most companies still plan to go back to the office when things reopen. Might be too early to make predictions about remote work.

nemothekid 6y ago
It would be funny if WeWork comes out ahead after all this.