Commercial real estate
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Commercial real estate includes the office buildings that are the financial bedrocks of many large cities.
Its values and occupancy have plummeted with the shift to working at home, which began with the Covid-19 pandemic.
Fortune magazine writes:
| “ | Traditional office spaces are also expected to empty out over the next 10 years. The national office vacancy rate was about 12% in 2019. By 2030, that number is expected to rise to 55% above the pre-pandemic figure, according to real estate firm Cushman & Wakefield.[1] | ” |
References
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