Working from home could wipe $800 billion from office values globally | CNN Business
www.cnn.com
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.

  • just_another_person@lemmy.world
    4·
    1 year ago

    Airbnb and Speculative Real Estate, sure, but in the US, Canada, and the Central EU countries, all the existing real estate is largely owned by the older Baby Boomer generation and their kids. Millennials have zero chance to buy any of that due to their lower ownership of total wealth in these areas, and the speculative pricing BS that is overvaluing the entire market BECAUSE of bullshit like Airbnb potential being factoring. It’s a losing proposition.