More than two years after COVID-19 upended the world of work, signs of a slow-motion crackup in office real estate are emerging.
Why it matters: Fresh commercial real estate data suggest that working from home (WFH) is becoming a permanent feature of the American economy, a development that has major implications for everything from housing prices to transportation policy to municipal finance.
State of play: Vacancy rates continue to climb in major markets across the country, and signs of distress in loans backed by office buildings appear to be growing.
Photo by Arlington Research on Unsplash
