I wrote 2 or 3 years ago, but it’s worth re stating :

The banks have explained to government who have explained to CEOs about the risk of a the real estate market collapsing.

Very simply :

1. No one needs offices any more
2. everyone sells them
3. oversupply!
4. price goes down, bigly
5. lots mortgages underwater,
6. commercial real estate collapse
7. banks lose lots of money,
8. but wait !
9. Worker don’t need to live near office
10. sell apartments, move to the country
11. over supply ! Price go down , repeat above
12. Banks are rinsed, full on crises a la 2008

I guarantee you 💯 every CEO would love to remove facilities costs from their balance sheet and put that money in their pocket.

But they’ve had a tap on the shoulder.

Remembered , Many of these companies built and sold the tools for remote work 🤪

Managers who don’t know how to manage remotely.