The omicron variant is expected to “hinder, but not derail” the recoveries for commercial real estate and the overall economy, according to a new analysis from Moody’s Analytics.

“The evidence from the country’s experience with the Delta variant this past summer and fall illustrated the desire and need for in-person activity, which translated into better-than-expected CRE performance,” Moody’s Thomas LaSalvia and Kevin Fagan write. “While Omicron is a little different, we think most of the evolutionary decisions have already been made. But there is one caveat⁠—does the presence of yet another variant further entrench remote work and push the office recovery out a bit further? This is a situation we are monitoring closely.”

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