According to Kastle, office occupancy stagnated after a concerted push of return-to-office plans by many businesses. Major metro areas like New York City show ~40% occupancy compared to 95% pre-pandemic.
See also:
- NYC office real estate value declined due to remote work
- Share of remote job postings increased post pandemic
Links to this note
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It’s becoming clear that remote work isn’t going anywhere. A large portion of the workforce continues to work from home. Return to office stagnated. Office real estate value is plummetting.
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Outline for my annual essay about things I learned and reflections for the year.
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The Overton Window of Employment
There is a range of acceptable employer policies that ranges from unthinkable to popular. During the COVID-19 pandemic, previously radical employment policies such as work-anywhere became sensible and then accelerated in popularity.