Just your regular reminder that the real money behind #RTO is commercial real estate. Downtown areas — especially those like #SanFrancisco that steadfastly refused to build high-density housing and mixed-use areas for decades — are now suffering because the commuters they depend on for income are no longer showing up.
What a shame that $800B of “value” will be lost, but hey, that’s business, right? Surely we’re not going to nationalize the losses by forcing people to commute against their will, right? What’s that? Oh, we are?
“Remote work could cut the value of office buildings by $800 billion by 2030 — with San Francisco facing a 'dire outlook,' McKinsey predicts”
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