GroveDiesel
Footballguy
Another interesting point made by in this podcast is that they could see a decrease in commercial real estate value and an increase in residential real estate as companies need less space for employees and employees want more space for home offices. In a market where housing is already in short supply, I could see that affecting housing prices even more than the 20% increase they forecast.I'll give it a listen, thanks for posting.
I was 100% work from office guy my whole career. WFH was always a PITA because I set up at the dining room table and had constant interruptions all day so I hated it. When COVID forced the issue, I made it clear with the wife and the dog, I was working & just happened to be at home. I was NOT at home and happened to be working. It actually went really well and as I kinda got used it, we changed our schedules to accommodate and I actually enjoyed it. One thing I was missing was a door to afford some privacy for calls and keep my loud voice contained. We addressed that and are not setting up two separate offices in our house to accommodate her needs and mine. We have a large, empty house (kids are gone) so we have the room.
And now my company is opening the building back up to any who want to come back. I live 4 miles away from the office so it's hard for me to come up with any excuse (especially since I was "at the office" guy) that makes sense for me to stay home. I still want to go ahead and finish out an office for me so I have it available if needed but will probably go back soon full time.
All sorts of interesting questions off of that then like:
-how much will that hurt municipal tax bases?
-will companies compensate employees for the increased costs associated with home office space or will it be considered offsetting to commute costs and/or the “perk” of being able to wfh?
-how much of that commercial real estate can be converted for other uses?
-does it even reduce need for commercial real estate for companies? If Company A has employees wfh 3 days a week and in the office for 2, are they really going to have workers share desk space and condense office space, or will each person still have their own space that just sits unused 60% of the time?
. I live 4 miles away from the office so it's hard for me to come up with any excuse (especially since I was "at the office" guy) that makes sense for me to stay home. I still want to go ahead and finish out an office for me so I have it available if needed but will probably go back soon full time.