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On The Market
“Return to Office” Could Change the Housing Market, But Not How You’d Think
Dec 9, 2024
Matt Reidy, Director of CRE Economics at Moody's Analytics, dives into the shift of corporate office trends as companies push employees back to work. Surprising insights reveal a potential resurgence in suburban living, driven by new office models and shorter commutes. He discusses the rise of desirable 'live, work, play' communities and the outperformance of specific office investments. With urban vacancies high, what does this mean for real estate investors? The talk offers a fascinating glimpse into the evolving landscape of housing demand.
31:48
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Quick takeaways
- The shift towards hybrid work models is encouraging companies to invest in suburban offices to attract employees and reduce commute times.
- While downtown office vacancies remain high, the demand for upscale suburban office spaces is increasing, indicating a realignment in the real estate market.
Deep dives
Return to Office Dynamics
Many major employers are calling employees back to the office, yet employees show reluctance, resulting in a rise of hybrid work models. This means that while companies like Amazon have proposed full-time returns, many firms are settling into hybrid structures, where employees work in the office for two to three days a week. The ongoing trend suggests that as the pandemic fades, expectations for office attendance may increase, but a complete return to five days a week seems unlikely. Overall, the hybrid model appears to be established and could significantly influence real estate markets.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode