Its only going to get worse. Already companies are having a very tough time forcing workers with any leverage back to the office. As these leases gradually expire, you’ve got to think the push to get everybody back to the office will die down. Companies simply won’t renew the leases and will pocket the cost savings.
I think commercial real estate is going to be in the hurt locker for some time to come. They’re gonna need to convert a lot of those buildings to residential use.
Yep, office buildings will go first floor retail and upper floors housing, it's been the rage for a decade now.