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Analysis

MBA Tries to Come to Grips with Office Demand

Don’t expect a return to the old office market says the Mortgage Bankers Association.

Two years in and pandemic conditions, as they wax and wane, have left office properties at 43.8% of pre-pandemic occupancy, says Kastle Systems.

Trying to understand where office use, and therefore the office market, is going has been at a minimum perplexing. Will employers succeed in getting workers to return to the office? Will employees win the ability to stay out of the office most of each week? On the backs of the answers to these and other questions rests the future of the office market. In the U.S., this could mean shedding 145 million square feet over the next two years.

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Erik Sherman

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