Re-tooled in the sense of adapting their organizations to pursue commercial development opportunities more so than residential development (e.g. hiring more peo

Re-tooled in the sense of adapting their organizations to pursue commercial development opportunities more so than residential development (e.g. hiring more people with networks and experience in that market). The 2007-2008 crash wiped out a lot of over-leveraged residential developers, and individuals building single homes. From conversations I've had with people in that industry, their sense is that we learned next to nothing and that a repeat of that experience is inevitable. So commercial development became seen as more desirable and less risky. Now that I think about it though, I haven't had any conversations since COVID! I wonder if the rise of remote work will have enough impact on commercial development to flip that calculus again.