Work from home is very very much here to stay. Employers have ZERO leverage over this. What are they gonna do, hire illegal mexicans to do their engineering, analysis, coding, management, research..lol
What's the alternative? I think you either have cities or country; suburbs are the worst of both. Convenience of city life is pretty good.They did this to themselves. The 2020 riots were the start of the end.
Cities are run by poverty pimps that aren't interested in making them decent places to live for normal working people. Lots of people are heavily tied to their RE and have difficulty moving but I expect it to just get worse.
I used to like going to visit NYC. There was so much to do and see. Now forget it.
These politicians would rather be mayors of crime infested hellholes than let them become decent places and face a possibile loss in the next election. Plus you have issues of deeply entrenched widespread corruption.
Work from definitely destroyed the downtown CRE market. In SF if you go to the financial district it is a ghost town with homeless scattered about. Buildings are selling for 10-15% of 2019 valuations.
The local subway here, BART, is up to 44% of 2019 ridership, it was 33% in 2023. I went once to meet my friend for lunch in downtown SF and the train car I was in had 3 people in it. BART is essentially bankrupt and now needs a bailout from Newsom & his cronies.
So you may hate RTO but it isn't free. City finances are collapsing and tax collection is DOA. Restaurants are closing and even chains like Whole Foods & CVS are abandoning SF. In SF because of so much inflation you can't really eat anywhere for less than $50 unless you want to eat a sandwich or salad. I had a salad in downtown SF it was $40. The same salad was $16 in 2019.
In short downtowns are fucked.
Downtowns were fucked way before this work-from-home from Covid. In fact, downtowns have always been fucked ever since they started the concept of suburban living and building highways to connect the suburbs to downtowns. Has nothing to do with Covid.
Depends on the job and company. For a startup I think onsite is critical. For a large firm remote workers do nothing but they probably did nothing when onsite. I quit a job because it was hybrid and I could walk there, still not worth it
That's pretty accurate but I would say Oakland already improved a lot by the early 2000s. I worked at a startup in downtown Oakland (The Franklin Building, Franklin & 17th) from 1998-2008. It was pretty good around that neighborhood. It was pretty safe, even East Oakland was okay.Speaking for Oakland, CA where I grew up, downtown had always been poor, deserted and dangerous for those overlooking from the hills. When former governor Jerry Brown became mayor in the late 90s he set about to increase population density to attract small businesses. It took well over 10 years to realize his plan but it worked. Many parts of downtown became gentrified (I always use this term positively) and vibrant with lots of shops and restaurants while cops ensured East and West Oakland poverty didn't disturb the efforts. When I left in 2019 Oakland had become the cool city to live in.
Covid and stay at home snapped that drive right out of existence. Gangs reclaimed their loot zones, thugs roamed the streets for any opportunity crimes and many young tech workers moved out as soon as they began to feel unsafe.
Today, Oakland is back to its pre 2k era.
Downtowns were fucked way before this work-from-home from Covid. In fact, downtowns have always been fucked ever since they started the concept of suburban living and building highways to connect the suburbs to downtowns. Has nothing to do with Covid. If you look at any city in United States, downtowns are essentially unlivable and there was never any life let alone vibrancy in downtown. Gentrification only went so far to change that but mostly downtowns are just offices surrounded by crime areas. Right now with the work-from-home arrangement, even the offices are getting abandoned so that just exacerbated the problem with downtown that it is now cutting into the bottom line of the city coffers. So at the end, just like everything else, this is not a moral issue; this is an economic issue. Those big corporations with office buildings are losing rent money and can't even sell the buildings with profit and they need bodies to be put back there for them to at least earn rent.