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My wife used to be in commercial real estate. She said that that from what she heard from colleagues, the industry is actually doing pretty well at the moment,
by cableshaft 6y ago
My wife used to be in commercial real estate. She said that that from what she heard from colleagues, the industry is actually doing pretty well at the moment, since so many offices have to be completely refitted for covid-19 precautions, and that's something that's also handled by those companies.
But right now a lot of places are still under contract for their leases. Might be a different story in a year or so when more leases expire and they just don't bother keeping their offices.
You want to know an industry that's really screwed? The industry she left commercial real estate for: events/conventions. Her current company has had basically no revenue since the first lockdowns, and that's not changing anytime soon.
She's been eyeing jobs in commercial real estate again as an escape from events, as they're in better shape for the moment, at least.
- jacquesm 6y agoI always keep our leases short because you never know what the future brings. I'd hate to be locked to a five or 10 year contract. Sure, I don't get the best rates. But that flexibility has paid off more than once. You're right about the events/conventions business, that's been more or less killed for the foreseeable future. I know someone that organized a few of them every year and it's not a pretty picture.