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This is already happening. Commercial real estate is rapidly losing value in many countries around the world. Nearly half the retail rents were left unpaid in

This is already happening. Commercial real estate is rapidly losing value in many countries around the world. Nearly half the retail rents were left unpaid in certain parts due to the Corona crisis: https://nymag.com/intelligencer/2020/07/coronavirus-possible-permanent-effect-on-retail-real-estate.html https://nymag.com/intelligencer/2020/07/coronavirus-possible... Commercial real estate has to make big changes to accommodate the social distancing norms - including removing seats in cinemas, broadening corridors etc. https://www.livemint.com/news/india/opinion-commercial-real-estate-industry-post-corona-a-kind-of-vaccine-11587970371609.html https://www.livemint.com/news/india/opinion-commercial-real-... There are many indications that commercial real estate is heading towards a huge drop in value: https://www.sandiegouniontribune.com/business/story/2020-06-20/coronavirus-fallout-is-commercial-real-estate-headed-for-a-crash https://www.sandiegouniontribune.com/business/story/2020-06-... Commercial real estate is getting emptied out: https://www.fastcompany.com/90528263/coronavirus-has-emptied-out-office-buildings-could-they-help-solve-americas-housing-crisis https://www.fastcompany.com/90528263/coronavirus-has-emptied... This crisis is worldwide - including in places like India: https://economictimes.indiatimes.com/markets/stocks/news/as-virus-threatens-to-empty-swanky-offices-indian-builders-take-a-knock/articleshow/75596696.cms?from=mdr https://economictimes.indiatimes.com/markets/stocks/news/as-... And people are moving to the suburbs to escape the high rent in the cities. People leaving the Bay Area because they can and still keep their jobs: https://www.nbcbayarea.com/news/local/making-it-in-the-bay/new-study-shows-more-workers-considering-leaving-bay-area/2327506/ https://www.nbcbayarea.com/news/local/making-it-in-the-bay/n...

yen223 6y ago
Our office closed in March, when the virus first hit Australia, and people went into full WFH for a couple of months. The office reopened in July, with people allowed to choose whether or not they wanted to work in the office, or work from home. Most people chose to continue working from home.
- AmericanChopper 6y ago
  Our whole company was told they could work from home or office as much as they want. Almost everybody was doing 4 days a week in the office, which is pretty much the way it was before. A very small amount have been choosing between 0-3. But I’m expecting most of them will give that up after they realize how much harder it is to got pay rises, promotions or interesting projects to work on when you’re the only one in the team who’s never at the office.
  - mercer 6y ago
    You're in the US though, right (based on your username)? Over here in The Netherlands, for one, I imagine a ton of workers aren't back in the office because our government is actively encouraging people to work from home. From what I can tell it's not mandatory, and I've heard from a few friends that they're back in the office more, but all those who aren't 'strongly encouraged' don't seem to have any desire to be in the office for four days a week and instead only show up sporadically (for meetings and whatnots), if at all. While as a WFH freelancer I can't tell for sure how things are working these days, I've noticed a few things: 1. whenever I go to my coworking space, it's still much quieter than usual. 2. in the morning I hear fewer people leave the apartment block, and fewer cars leaving the area. 3. official numbers of people using public transport (quite common here) are something like 40% down.

yen223 6y ago

Our office closed in March, when the virus first hit Australia, and people went into full WFH for a couple of months. The office reopened in July, with people allowed to choose whether or not they wanted to work in the office, or work from home. Most people chose to continue working from home.

AmericanChopper 6y ago
Our whole company was told they could work from home or office as much as they want. Almost everybody was doing 4 days a week in the office, which is pretty much the way it was before. A very small amount have been choosing between 0-3. But I’m expecting most of them will give that up after they realize how much harder it is to got pay rises, promotions or interesting projects to work on when you’re the only one in the team who’s never at the office.
- mercer 6y ago
  You're in the US though, right (based on your username)? Over here in The Netherlands, for one, I imagine a ton of workers aren't back in the office because our government is actively encouraging people to work from home. From what I can tell it's not mandatory, and I've heard from a few friends that they're back in the office more, but all those who aren't 'strongly encouraged' don't seem to have any desire to be in the office for four days a week and instead only show up sporadically (for meetings and whatnots), if at all. While as a WFH freelancer I can't tell for sure how things are working these days, I've noticed a few things: 1. whenever I go to my coworking space, it's still much quieter than usual. 2. in the morning I hear fewer people leave the apartment block, and fewer cars leaving the area. 3. official numbers of people using public transport (quite common here) are something like 40% down.