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
    6•10 months ago

    When cars became common, did Big Horse whinny about it?

    There was no ‘big horse,’ but there was a lot of fearmongering about cars in regards to how they would take away jobs.

    When the printing press hit the scene, did we mourn for the loss of monk jobs?

    No, but the church tried to suppress it.

    Technology has always been opposed by those who it can replace. Sometimes for good reason. The luddites saw their jobs being replaced by machines that didn’t do a better job or even a faster job, only a cheaper one. And a more dangerous one. So they sabotaged the looms.