2023 Real Estate Observations (Boston, Cambridge: volunteer, Starbucks, crowded)

[msRB311]

Oh right you said the FED is forcing people back in.

[massnative71]

Originally Posted by yesmaybe

The same as what I told all of you 3 years ago?

What, crackpot conspiracy theories about the fed trying to crash the economy?

[newenglandgal123]

Originally Posted by yesmaybe

The same as what I told all of you 3 years ago?

If enough people leave these companies with WFO mandates and go to ones that still allow WFH they won't have a choice but to allow WFH again if they want to retain employees...will they?

[robr2]

Originally Posted by msRB311

What is their reasoning after over 3 years of remote work?

They have 510,000 reasons for half of a new building with their name on it at One Congress street they leased through 2038.

https://www.bostonglobe.com/2023/09/...our-days-week/

[msRB311]

Curious to know how employees feel about it. Maybe they dont care? Maybe they'll leave. It's interesting because I know someone who works at state street and she was WFH long before the pandemic happened. Seems that many companies have some people who can WFH and some who cant

[newenglandgal123]

$1M for this little 1400 sq ft apt.....https://www.zillow.com/homedetails/6...84062500_zpid/ I know it's in Wellesley but it looks like an office building and on a busy drag. Surely, one can do a lot better with a $1M budget in another town but if you just have to be in Wellesley I guess this is the sacrifice some folks are willing to make...crazy!

[newenglandgal123]

Originally Posted by msRB311

Curious to know how employees feel about it. Maybe they dont care? Maybe they'll leave. It's interesting because I know someone who works at state street and she was WFH long before the pandemic happened. Seems that many companies have some people who can WFH and some who cant

Not sure how things look for 2023 but last year MA was at the top when it comes to WFH.



https://www.boston.com/news/business...ork-from-home/

[AtkinsonDan]

Originally Posted by newenglandgal123

If enough people leave these companies with WFO mandates and go to ones that still allow WFH they won't have a choice but to allow WFH again if they want to retain employees...will they?

Some employers like mine have eliminated their office space making WFH their default work arrangement. In addition to that, the pandemic response turned WFH into a well known and desired perk across the labor force. If companies with reduced or eliminated office footprints can reduce their prices due to the lower overhead then the competitors who are now keeping office space will be forced to follow suit to effectively compete in this altered marketplace. That economic competition will determine what happens in the mid to long term future, not old-school management.

[Saguarogirl507]

Originally Posted by AtkinsonDan

Some employers like mine have eliminated their office space making WFH their default work arrangement. In addition to that, the pandemic response turned WFH into a well known and desired perk across the labor force. If companies with reduced or eliminated office footprints can reduce their prices due to the lower overhead then the competitors who are now keeping office space will be forced to follow suit to effectively compete in this altered marketplace. That economic competition will determine what happens in the mid to long term future, not old-school management.

I get why WFH is so desirable. I do. But I am so glad that my work life was in an office setting. I loved my job as a graphic designer but more importantly some of my nearest and dearest friends were made in the office during my career. We are all retired now (well most of us) and we still talk and see one another often. I just feel badly for people who are missing out on those connections. Zoom meetings and such don't make for that kind of relationship. I have a good friend who would like nothing better than to be in an office with other people. She is tired of working from home all by herself. She is in tech and most of the jobs in that sector are now remote.

[msRB311]

I agree that there are some downsides to WFH. There isn't as much structure, and yes the social aspect and connections are missing. But needing to be in an office by 9 and stuck there until 5/530 5 days a week isn't exactly the good life either. If you're a parent you miss out on a lot. I appreciate that I can drop my kids off at school or the bus and be back to my house by 830. No rushing to an office, then no rushing home, sitting on a crowded train or in traffic just to basically give them dinner and put them to bed.

Work isn't everything to everyone. If someone's work is their reason for being then I can see why they'd want to be in the office all the time.