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Analysis

A.I. Could Prove Worse for Office Occupancy Than Remote Work

The point of technology is typically to reduce the need to hire people, even if there are other reasons for it.

Work from home — the movement that started during the Covid-19 pandemic and then continued when originally people thought it would die out — has been seen as an ongoing bane to the office market. Companies with dispersed workforces may not have as much need for maintaining office space as they once might have.

There’s also been the so-called flight to quality in companies moving into better digs and a greater ability for Class-A properties to remain in demand, leased up, and maintaining rents. And interest rates making refinancing a challenge. A complex situation.

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Erik Sherman

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