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The Remote-Work Revolution Has Wiped Out $453 Billion In Commercial Real Estate Value
Nation and State ^ | 12/08/2022 | Tyler Durden

Posted on 12/08/2022 9:28:44 PM PST by SeekAndFind

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To: Larry Lucido

Words to live by! (RIP Hans Gruber)


21 posted on 12/09/2022 2:31:33 AM PST by Moonmad27
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To: SeekAndFind
This was inevitable. It was coming for years.

Of course much work can be done remotely. Good for business and those who can perform such tasks and remain competitive. Talent is no longer required to be local, and now the best talent can be sought out even if they are on the other side of the planet.

There are mechanisms to ensure that they are being productive, so that's not an issue.

As far as office spaces, they can be converted and rezoned. Certainly an expensive prospect but in many cases, doable.

Imagine the instant savings for businesses that go remote. Reduced electrical, the burden of utilities and resources can be placed on the employee. The employee saves on time, gas, clothes and a dozen other benefits.

Collaborative efforts are doing quite well via apps like MS Teams and others. Plus there's no chance of the flu taking down a department for a week, and no need to push vaccines on the employed.

Sure, not every job is suitable for this, and not everyone wants it. It's ideal for those who prefer it though. I think it's worked extremely well and is here to stay.

22 posted on 12/09/2022 2:51:09 AM PST by Caipirabob (Communists...Socialists...Fascists & AntiFa...Democrats...Traitors... Who can tell the difference?)
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To: robowombat

The people behind the pseudonym ‘Tyler Durden’ are not reliable. Their original site is Zerohedge and it has been banned from FR.


23 posted on 12/09/2022 2:59:29 AM PST by Krosan
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To: Tabusocial

I agree that many jobs can be done remotely, but I don’t assume that everyone prefers it; I have no interest in giving up a portion of my home to my employer.

In my experience those most resistant to returning to the office have the longer commutes or tolls; those most receptive to returning are those who live alone, for whom work provides a good portion of their socializing.


24 posted on 12/09/2022 4:03:26 AM PST by kearnyirish2 (Affirmative action is economic warfare against white males (and therefore white families).)
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To: Golden Eagle

“Just wait for the boomers to start dying”

Don’t forget, everybody over 65 should get the vax.


25 posted on 12/09/2022 4:18:28 AM PST by Neverlift (When someone says "you just can't make this stuff up" odds are good, somebody did.)
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To: Larry Lucido
I’m not asking for the government to step in, but the large office business is dead. The article I read said the only way for conversion to residential to work was with a subsidy. Currently the buildings are not generating enough revenue to pay the taxes, pay the mortgage, nor the investors. So this is going to be an issue. Will all downtowns look like Detroit?

Current business model no longer works, conversion to residential is too expensive and does not solve the problem. Loans go unpaid..... recipe for a very bad time for major downtowns of America.

26 posted on 12/09/2022 4:34:48 AM PST by Lockbox (politicians, they all seemed like game show hosts to me.... Sting)
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To: Larry Lucido

Larry you kill me... You’ve refined your one liner skills!!!


27 posted on 12/09/2022 4:50:49 AM PST by sit-rep ( )
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To: Golden Eagle
No...the commies can't destroy capitalism. They can poop, and let others poop on their doorstep, but the money will just go elsewhere. I read a great article right here on FR. The author used recent statistics to show that big cities, such as the ones the commies are presently destroying, really have no economical purpose like they used to. His one example was the stock market. Paying all that rent and having to pay people large sums to work there is no longer necessary. It is passe. it's all done from home or offices that cost pennies to maintain.

That has been all replaced by the internet. There's a reason you see massive amazon warehouses springing up all over the place.

28 posted on 12/09/2022 4:51:40 AM PST by gr8eman (Abortion! It's just a murderous ghoul thing!)
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To: Golden Eagle

Not sure people figuring out you don’t have to commute to a hell hole democrat city to get the same work done is a bad thing.

So many cities exist due to inertia and are really terrible places.


29 posted on 12/09/2022 4:56:07 AM PST by Jewbacca (The residents of Iroquois territory may not determine whether Jews may live in Jerusalem.)
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To: dragnet2

... business clothes, baby sitters, tens of thousands wasted in fuel...All of this wasted time and money when 50 percent of the people could easily do it from home.

Those are the secondary economic effects not even factored in to this report. Add to it the reduction in lunchtime traffic for restaurants if people are working from home.


30 posted on 12/09/2022 5:26:46 AM PST by Flick Lives (Cui bono)
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To: gr8eman

Getting up and going to work everyday is half the battle. You take that away, people start to get lazy, it”s inevitable. Then when the government starts paying some of them to sit at home and do nothing, they have no incentive to work at all anymore. That’s what’s been happening the last few years with those covid payouts. Fewer and fewer people want to work anymore.

Where I work, some of the hardest workers you would least expect are suddenly retiring in their 50’s now. People’s parents are dying, so they’re inheriting some money, and deciding to go ahead and spend it, instead of passing it down as it was passed to them. And the retirement packages for this next generation are non-existent, so this cycle is non-repeatable.

Maybe that’s just all happening here where I live. But I can’t even find anyone to come work on my home now whenI need it. Or if I do, the work quality is shoddy. I live in a gated community and our cars are now being broken into at night if they’re left out of the garage now as well. These are all trends showing the end of the working class. Again, maybe it’s just here, but I doubt it.


31 posted on 12/09/2022 5:26:47 AM PST by Golden Eagle (The LGBTQ indoctrination agenda is designed to outlaw the Bible, and anyone who follows it.)
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To: kearnyirish2

A third reason is that WFH allows one to avoid much of the office politics and drama.


32 posted on 12/09/2022 5:28:55 AM PST by kosciusko51
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To: Jewbacca
Yeah, this was really fun and uplifting.


33 posted on 12/09/2022 5:32:27 AM PST by Bonemaker (invictus maneo)
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To: Bonemaker
May have been drudgery, but it was discipline. Discipline is a behavior that requires steady practice to the point of being habitual.

Also, it's a shame that adults dress like slovenly children now. I do gig work during the winter months to stay busy (can't snowmobile and ski every day) and so drive into the main office of one of the companies I contract with once or twice a week. It's largely empty because even the upper management works from home. But what few employees are there look like they are dressed for drinking beers at the sports bar. I gave up wearing a tie even tho' it feels like I'm naked every time I walk through those revolving doors.

34 posted on 12/09/2022 5:58:06 AM PST by Sirius Lee (They intend to murder us. Prep if you want to live and live like you are prepping for eternal life)
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To: SeekAndFind

...as someone who over the past 50 years has had hundreds of employees and who has tried “work at home”, this “work at home” fantasy is a stopgap (meaning ok if you have no choice when the next democratic party Covid type scam comes along) NOT a permanent solution. NOBODY really “wants” to work at home, they just think they do. Human nature is to “get up, get out and GO”.


35 posted on 12/09/2022 6:02:59 AM PST by Cen-Tejas
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To: montag813

>> Blackstone will swoop in and grab these for a song, then convert them to rentals. <<

It’d be pretty great if someone did. Too much office space, not enough living space. Of course, you picked Blackstone because Blackstone is evil. You might find that there are a lot of people around here who don’t regard EVERY big-money, big-city billionaire residential real-estate developer to be evil.


36 posted on 12/09/2022 6:03:38 AM PST by dangus
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To: Flick Lives

“ Those are the secondary economic effects not even factored in to this report. Add to it the reduction in lunchtime traffic for restaurants if people are working from home.”

The sooner democrat hell holes are depopulated of productive citizens, the sooner they lose financial, political, and social power.

Maybe we can build walls around them.

For the opposite reason of medieval city fortifications.


37 posted on 12/09/2022 6:14:25 AM PST by Jewbacca (The residents of Iroquois territory may not determine whether Jews may live in Jerusalem.)
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To: SeekAndFind

It’s one of those large shifts in history, which just happen because things change. The laptop computer has turned the whole world into a mobile work space, making the downtown business district redundant.

We met a young business man who lives in a nice RV with his wife and kids. They travel all over and he works wherever they stop. They were headed for a three week stop in Yellowstone.


38 posted on 12/09/2022 6:18:15 AM PST by lurk (u)
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If some GOP Senator with b@lls would release a Schumer-style "Indy Mac" letter that Schuck used to intentionally unravel the residential real estate subprime market in 2008, not just to wipe out McCain's remote shot at the White House, but to cripple the GOP downticket. It worked.

You all hear me? IT WORKED. The market didn't crash, it cratered. The Great Recession ensued, and that yielded ... President Trump.

And it would work AGAIN, if some GOP Senator with b@lls would leverage this news -- the commercial investors now carrying empty skyscrapers, no back rent, and bad debt; and issue a new, 2023 "IndyMac" letter specifically to unwind the already-weakened global commercial real estate market -- just as Schumer did in 2008.

It's time now for the handful of conservatives left in the Senate to stop d---ing around and kick the stool out from under Xiden and his puppet-state cadre.


39 posted on 12/09/2022 6:46:21 AM PST by StAnDeliver (Tanned, rested, and ready.)
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To: AAABEST

Ping.


40 posted on 12/09/2022 7:10:01 AM PST by Joe Brower ("Might we not live in a nobler dream than this?" -- John Ruskin)
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