If you’re a footloose worker, Europe is the place to go, according to the Nordlayer Global Remote Work Index 2023.
Tag: Office Building Bust
TOP TREND 2023, OFFICE BUILDING BUST: STERNLICHT FORECASTS $1 TRILLION IN LOSSES
“The office market has an existential crisis right now,” Barry Sternlicht, CEO of real estate investment fund Starwood Capital Group, said on 30 January at the iConnections Global Alts conference.
TOP TREND 2023, OFFICE BUILDING BUST: BANKS DEMAND WORKERS RETURN TO THE OFFICE
Last week, Bank of America (BoA) sent “letters of education” to remote workers threatening to punish them if they fail to spend a certain minimum number of hours in the bank’s offices each week.
TOP TREND 2023, OFFICE BUILDING BUST: IMF WARNS OF LOOMING CRISIS IN COMMERCIAL REAL ESTATE
While old news to Trends Journal subscribers, the International Monetary Fund (IMF) has become the latest entity to warn of a pending crisis in commercial real estate, a trend we have been warning about since the beginning of the COVID War in our continuing series, Office Building Bust.
SPOTLIGHT TOP TREND 2023: OFFICE BUILDING BUST
Years of overbuilding and the transition to remote work has raised the U.S. national office vacancy rate to 19.6 percent, compared to 18.8 percent a year ago, Moody’s Analytics reported, the highest since at least 1979, the year Moody’s began tracking the data.
SPOTLIGHT TOP TREND 2023: OFFICE BUILDING BUST
When the COVID War was launched in January 2020, and politicians across the globe enforced draconian lockdown mandates, among them forcing people to stay in their homes and not go to work, we had forecast and Office Building Bust...
SPOTLIGHT: OFFICE BUILDING BUST
Hedge funds have become short sellers—investors betting an asset’s value will fall—in commercial real estate.
OFFICE BUILDING BUST SHOOTS DOWN ANOTHER HIGH FLYER
Sigma Holding, which owns department stores and office buildings in several countries, has declared insolvency in its native Austria, similar to filing for bankruptcy in the U.S.
TOP TREND 2023, OFFICE BUILDING BUST: FEDERAL OFFICES MOSTLY EMPTY
The federal government spends roughly $2 billion annually to operate office spaces it owns, and $5 billion more to lease others, but up to three-quarters of that square footage is probably empty on a given day, according to a three-week study of 24 federal agencies earlier this year by the Government Accounting Office.
TOP TREND 2023, OFFICE BUILDING BUST: BUILDING OWNERS CAN’T BORROW MONEY TO PAY LOANS
Among securitized office mortgages that came due during the first nine months of this year, only one in three was paid in full by 1 October, according to Moody’s Analytics.