Working from home could wipe $800 billion from office values globally | CNN Business
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Remote work risks wiping $800 billion from the value of office buildings in major cities worldwide by 2030 as the post-pandemic trend pushes up office vacancy rates and drives down rents, according to a new report.

McKinsey said cities could adapt to the declining demand for office space by “taking a hybrid approach themselves,” developing multi-use office and retail space and constructing buildings that can be easily adapted to serve different purposes.

  • Flying Squid
    4•1 year ago

    I’ve seen multiple factories and churches in multiple places get turned into apartments. I almost rented a loft in an old flour mill in L.A. If they can do it with a flour mill, they can do it with an office building.