San Francisco office vacancy rate hits a new record high...
Tech Companies are Laying Off and It's Unlikely they will be Hiring Soon... and Many People Prefer to Work from Home! If They Could Take an Elevator to The Office... Attending Meetings Would be EASY!
Landlords are Hurting!
The ongoing debate over working remotely or going into the office overlooks one major factor that could be disastrous for large cities, such as New York, Chicago and San Francisco. The commercial real estate market may be in serious trouble. According to a recent report by Morgan Stanley analysts, the commercial real estate market is expected to experience something "worse than in the Great Financial Crisis."