I said it more than 2 years ago, short anything long in office leaseholding and ownership.
This is a trickle, my wife and I get calls all the time… so and so is interested in talking to you. Okay. They require relo. No thank you. 6 weeks later, would you be interested if it was remote?
The only people who will be required to go to the office are the worker bees or the people that want to. I know no one with the option not to go that voluntarily goes.
Centralized downtown office spaces are going to be bloody the next 3-10 years as leases expire and footprints reevaluated.
It's inevitable
I have been reading where some are already looking to convert office space into apartment/condo residential space.
Not a bad idea, but incredibly expensive. In places where living space has been at a premium we could see a major shift and landlords in some of those older rentals getting the short end of the stick.
Things could get very interesting or major parts of cities are going to decay.