Predictions for commercial real estate

My perception is some commercial real estate is being converted to housing to accommodate for scarce housing.

That would reduce the relative oversupply of one and deficit of the other.

I think real estate values are going to be volatile for both commercial and residential over the next two years.

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Of course a counter point might be that people would want more square footage so their employees aren't all stacked on top of each other

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I'm seeing lots of forced move to agile workplace, removing cubicles and adding conference rooms. Atleast that seems to be the trend with the folks i know

I think that once covid is clearly in the review mirror and all thesesoy boy's are over this coodie nonsense employers are going to look at productivity losses and arses will be back in the office. I don't care what anyone says, on avg productivity is down in a WFH environment. Some businesses can accept that and some will use it as a "benefit" which is great, but at the end of the day in a globally competitive business environment competition will force things back to mostly how they were in 2019.

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employers are going to look at productivity losses and arses will be back in the office. I don't care what anyone says, on avg productivity is down in a WFH environment.

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What makes you say this? Just your gut feeling?

I know you announced you don’t care what anyone says, but my team of engineers and CAD drafters have increased productivity and quality since working from home. Stale procedures were replaced with digital processes/tools.

I understand some types of work may benefit or require physical presence, but a lot of work can be done remotely.

Also, is it that much harder to manage productivity in a work from home environment? Send an email asking the status of an assignment or the expected completion date. People can waste just as much time at the office.

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I think that once covid is clearly in the review mirror and all thesesoy boy's are over this coodie nonsense employers are going to look at productivity losses and arses will be back in the office. I don't care what anyone says, on avg productivity is down in a WFH environment. Some businesses can accept that and some will use it as a "benefit" which is great, but at the end of the day in a globally competitive business environment competition will force things back to mostly how they were in 2019.

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in a globally competitive business it makes less sense to go to the office. you may not even have a team at your office. for a while most of the team reporting to me was in europe and asia while i sat in nyc. now my team is just across the US. we could all go to an office, but it wouldn't help us work together we'd do the exact things we do today.

If anything working from home has helped identify the most productive, responsible team members.

If you need to be babysat in an office we don't need you.

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, but my team of engineers and CAD drafters have increased productivity and quality since working from home. Stale procedures were replaced with digital processes/tools.

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I work in higher Ed, and the productivity increase (for most) has been impressive. College campuses are full of distractions and “collegiality”. Flex scheduling is going to be the norm going forward. Majority of workforce in my unit has school aged children—allowing those folks to more easily juggle kid responsibilities has led to increased morale and reduced stress. But it has revealed clearly those workers who lack self discipline and motivation—and some will be replaced as we align skills with new job needs.

No one is putting the work from home genie back into the bottle.

The only people who are not more productive in WFH environments (where the job doesn't need to be at a particular site) are people who need social interaction. These are the ladies that hang around the coffee pot or take multiple breaks to walk around the cubicle farm to show pictures of their kids doing something. People that thrive in distraction free environments always are more productive in their own space. I say that as someone who managed a remote work team for several years.

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My perception is some commercial real estate is being converted to housing to accommodate for scarce housing.

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They'd have to change the zoning to do that.

My buddy is the director of acquisitions for a major corporate real estate company here, and despite what I would've anticipated they're doing quite well. Breaking ground on a few big projects that have been in the works here and in other cities where they do business.

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If anything working from home has helped identify the most productive, responsible team members.

If you need to be babysat in an office we don't need you.

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Have definitely seen who has sank and who has swam in my office regarding this WFH policy. I'm amazed at how bad some people are at this.