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The commercial real estate collapse we are just at the beginning of will definitely limit skyscraper height. See Pinterest paying $100mm to break their lease i

The commercial real estate collapse we are just at the beginning of will definitely limit skyscraper height. See Pinterest paying $100mm to break their lease in a new development in SF. See AOC limiting new AMZN business, major banks distributing their work force in NYC.

sthnblllII 6y ago
Im curious to know why this would be downvoted. Everyone has spent the last 6 months talking about the end of offices and “work from home”. Can someone elaborate?
- Mountain_Skies 6y ago
  My guess is it was due to the AOC part. Any mention of a politician by name in the US brings forth emotional responses and the responses to her in particular, pro or con, tend to be extra emotional.
  - erentz 6y ago
    I didn’t downvote but I’d also guess it’s not just the mention of a name but 1) it’s kind of hyperbolic to say AOC did that, (she must be extreme powerful indeed!), 2) it doesn’t seem congruent with the point of the comment about the commercial real estate collapse which is not something driven by a representative from Queens but driven by a pandemic and increasing realization by businesses that it’s cheaper to put their workforces elsewhere or in their homes.
- refurb 6y ago
  My hypothesis is that the whole work from home will fizzle out pretty quickly for most people, with the exception of a few tech companies. Anecdotally, my company did a survey (10k+ employees) and the vast majority didn't want full-time work from home in perpetuity. I think it works well for some industries and functions, but it's an absolute cluster for others. Add in the inevitable "COL adjustment" for people who live in LCOL areas, it will be a few percentage of employees who make a permanent change. Once Covid is a thing of the past, we'll see the vast majority of people return to work in an office - likely with a lot more "work from home" flexibility, but still an expectation that they are in the office for some percentage of their work week. Just my 2 cents. I could be entirely wrong.
  - sien 6y ago
    One of the big four Australian banks is planing to have halve their CBD real estate in Australia in the next few years. This is because they have found WFH to be so successful.
    - erklik 6y ago
      > This is because they have found WFH to be so successful. I am honestly somewhat wary of this. It seems like execs saw the dollar signs flashing and are starting this, yet we barely have any data on this affects levels of productivity. It hasn't been that long for them to get that data.
      - llampx 6y ago
        I agree. For one thing, relationships that were built in-person, around the watercooler and physically present lunches, are different than relationships which started out online and zoom-only. I've had remote-only jobs and jobs where I went into an office every day, and I have many more pleasant memories and longer-lasting relationships from the jobs which had an onsite component.
  - dependsontheq 6y ago
    Siemens just announced that they are expecting all employees to shift to 50% home office. I think they have about 380.000 employees, of course that is just one example but I think a broader shift is happening, not a 100% remote shift.

sthnblllII 6y ago

Im curious to know why this would be downvoted. Everyone has spent the last 6 months talking about the end of offices and “work from home”. Can someone elaborate?

Mountain_Skies 6y ago
My guess is it was due to the AOC part. Any mention of a politician by name in the US brings forth emotional responses and the responses to her in particular, pro or con, tend to be extra emotional.
- erentz 6y ago
  I didn’t downvote but I’d also guess it’s not just the mention of a name but 1) it’s kind of hyperbolic to say AOC did that, (she must be extreme powerful indeed!), 2) it doesn’t seem congruent with the point of the comment about the commercial real estate collapse which is not something driven by a representative from Queens but driven by a pandemic and increasing realization by businesses that it’s cheaper to put their workforces elsewhere or in their homes.
refurb 6y ago
My hypothesis is that the whole work from home will fizzle out pretty quickly for most people, with the exception of a few tech companies. Anecdotally, my company did a survey (10k+ employees) and the vast majority didn't want full-time work from home in perpetuity. I think it works well for some industries and functions, but it's an absolute cluster for others. Add in the inevitable "COL adjustment" for people who live in LCOL areas, it will be a few percentage of employees who make a permanent change. Once Covid is a thing of the past, we'll see the vast majority of people return to work in an office - likely with a lot more "work from home" flexibility, but still an expectation that they are in the office for some percentage of their work week. Just my 2 cents. I could be entirely wrong.
- sien 6y ago
  One of the big four Australian banks is planing to have halve their CBD real estate in Australia in the next few years. This is because they have found WFH to be so successful.
  - erklik 6y ago
    > This is because they have found WFH to be so successful. I am honestly somewhat wary of this. It seems like execs saw the dollar signs flashing and are starting this, yet we barely have any data on this affects levels of productivity. It hasn't been that long for them to get that data.
    - llampx 6y ago
      I agree. For one thing, relationships that were built in-person, around the watercooler and physically present lunches, are different than relationships which started out online and zoom-only. I've had remote-only jobs and jobs where I went into an office every day, and I have many more pleasant memories and longer-lasting relationships from the jobs which had an onsite component.
- dependsontheq 6y ago
  Siemens just announced that they are expecting all employees to shift to 50% home office. I think they have about 380.000 employees, of course that is just one example but I think a broader shift is happening, not a 100% remote shift.