In a new report, Cushman & Wakefield indicates that office pricing should recover by late 2022.
To get to this conclusion, Cushman & Wakefield presumed US office employment declines by 1.2 million jobs in 2020, Congress passes another fiscal relief bill, the Coronavirus situation begins to resolve by mid-2021 and the historical relationship between job losses and net absorption holds true in this cycle, according to Cushman & Wakefield's "U.S. Property Markets & The Economy" by David Smith.
While it doesn't expect a seismic shift to remote work, Cushman & Wakefield does project that the number of people working from home will increase from 5% to 10%.
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