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Anybody following the commercial building loan crisis
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Posted 5/1/2023 07:17 (#10210971 - in reply to #10210728)
Subject: RE: Anybody following the commercial building loan crisis


Malta, Illinois
Not saying you are not right in some cases. I'm sure you are but I think you are oversimplyfing to some degree. What is wrong with people being paid to "pound on computers"? Computers have become as much a part of our lives as eating and breathing. In most cases if a job was truly irrelevant or unnecessary I think it would have been eliminated a long time ago. With people costs being what they are companies are always looking for a place to cut someone. With computers, some jobs are ideally suited for work from home situations. Unfortunately not all people are suited for work at home situations. In the middle and coming out of the pandemic companies thought they had stumbled upon the magic bullet for cutting overhead. Have everyone work from home! This prompted concerns about the value of commercial real estate. Those concerns are proving to be warranted to some extent but I don't think the exodus from the workplace to home is going to be as permanent as some have imagined. Companies are finding that certain people do very well with work at home and some do not. Those who are super focused and driven do fine and are just as efficient as they are in the office. Many however are not disciplined enough with the proper level of self control to work from home and give an honest eight hours a day. People have figured ways to game the system by getting rid of childcare and taking care of their kids while they are supposed to be working. There have been stories of people holding multiple work at home jobs sometimes with competitors. The novelty of working from home quickly wore off for many who became weary of the lack of interaction with colleagues and not getting away from whatever is going on at home. There are indeed some companies who have gone all in and given up lease space to have their people work from home but they have had to build in accountability measures to make sure they are getting what they are paying for. A lot of companies have brought their people back to the office in the last year. Unfortunately with the economy teetering on the brink of disaster, a lot of those companies may soon be laying off people. I think the demand for commercial real estate is going to be soft but not fall out of bed either.
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