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The coming collapse of commercial real estate

I’ve telecommuted for over 30 years, which was a choice I made once home computers and the internet enabled me to establish a virtual law office. However, there’s a huge difference between individuals and small offices making lifestyle and economic choices and the lockdown’s brute force transition from an office-place economy to a telecommuting economy. The former is an organic workplace diversification; the latter is the breakdown of the commercial real estate marketplace with unfathomable consequences for the American economy.

The climate changistas have long dreamed of a virtual business environment, one in which people in white-collar professions work from home. For them, the lockdowns were the perfect catalyst. At the macro level, telecommuting ends traffic jams and stops the need for vast building complexes that despoil possibly more attractive natural environments. It theoretically lowers the cost of doing business because companies no longer need to pay mortgages or rents on office facilities, as well as attendant costs (e.g., insurance, janitorial maintenance, etc.).

For white-collar workers, there are upsides, too. Not having to commute to work can save them hours per day, as well as cutting back on the costs of bus fare, fuel, and car wear and tear. Latchkey kids are no longer an issue because one or both parents are home when the kids come home. You also don’t need to spend money on a work wardrobe or expensive lunches downtown.

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4 thoughts on “The coming collapse of commercial real estate”

  1. Ron PAGAN-O of Unitarian Fellowship

    But But But,
    CLIMATE CHANGE is real

    *.It gets hot in the summer
    *cooler in fall
    *cold in. winter
    *rains in spring

    right ? the climate does change

  2. 3:02 well done, you’ve described weather and the rotational axis of the Earth relative to your position on it.

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