NEW YORK CITY — Top of minds in real estate, economics and finance recently shared insight into how rising interest rates, inflation and economic uncertainty are impacting commercial real estate in New York, the U.S. and markets abroad. The virtual panel discussion on Sept. 7, hosted by Fordham University’s Real Estate Institute and The Business Council of Westchester, also shared insights into remote-work trends and how that is reshaping real estate.
Nicole LaRusso, senior director for research and analysis for CBRE Group Inc.’s, U.S. North Region said that the average office worker spent about 4.2 days a week in the office pre-pandemic. Now she expects it will be 3.2 days. “The reduction in time spent in the office, combined with current economic uncertainty and higher costs for occupiers, is going to push back on office demand in the near term,” she said.