Work from Home and Commercial Real Estate

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poundstone
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11:19a, 8/5/23
https://www.forbes.com/sites/adigaskell/2023/03/05/how-remote-work-has-affected-real-estate-values/?sh=24a8405d1229

At my last position my 50+year old boomer boss personally owned the space we used to work in. One of his complaints about work from home was that nobody would be in the office and the space would be empty.

As a result of his stubbornness and inability to grow he lost all his employees within a 6 month time frame.

Most jobs I've seen now a days are fully remote or hybrid. More and more people realize there is zero need to be in a physical office from 8-5 for 5 days a week.

Will be interesting to see how major corporations like google deal with this
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AGHouston11
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11:23a, 8/5/23
AG
Eliminating actual human interaction isn't necessarily a good thing.

The next step is remote humans will not be needed when AI can do the exact same thing but better.
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poundstone
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In reply to AGHouston11 • 11:24a, 8/5/23
You realize talking over zoom is still human interaction
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MemphisAg1
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11:25a, 8/5/23
AG
Get out in the real world. Most jobs involve getting off your duff and doing something... manufacturing, energy exploration, policemen, firemen, truck drivers, farmers, delivery drivers, doctors, nurses, teachers, etc.

I work in the corporate world, and yes there's some remote work, but there's still a lot of travel, meetings, and being in the office.

If you can get it all done remotely, make the boss happy, and continue advancing in your career, then good for you. No skin off my back. But that's not the majority of jobs.
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TRADUCTOR
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11:26a, 8/5/23
Setting the expectations of WFH with realtors is a good start.
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poundstone
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In reply to MemphisAg1 • 11:32a, 8/5/23
All those jobs except doctors are blue collar
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one safe place
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In reply to poundstone • 11:33a, 8/5/23
poundstone said:
https://www.forbes.com/sites/adigaskell/2023/03/05/how-remote-work-has-affected-real-estate-values/?sh=24a8405d1229

At my last position my 50+year old boomer boss personally owned the space we used to work in. One of his complaints about work from home was that nobody would be in the office and the space would be empty.

As a result of his stubbornness and inability to grow he lost all his employees within a 6 month time frame.

Most jobs I've seen now a days are fully remote or hybrid. More and more people realize there is zero need to be in a physical office from 8-5 for 5 days a week.

Will be interesting to see how major corporations like google deal with this
Be interesting to see how many of them start their own business and run it in accordance with their own views on this.
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zoneag
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11:34a, 8/5/23
Hedge, your 50+ boss is most likely not a boomer.
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JobSecurity
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In reply to poundstone • 11:36a, 8/5/23
AG
poundstone said:
All those jobs except doctors are blue collar


Exactly. And the people making the decisions (and real money) are doing it from home in their pajamas
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poundstone
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In reply to one safe place • 11:37a, 8/5/23
Or just move to a company that shares the same values
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AGHouston11
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In reply to poundstone • 11:50a, 8/5/23
AG
poundstone said:
You realize talking over zoom is still human interaction


Like I said many of the remote humans can and will be replaced by AI. A screen of someone talking is easily replaced. Not only that the replacement will be better.
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DrEvazanPhD
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11:53a, 8/5/23
Hedge threads
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WoMD
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In reply to poundstone • 11:55a, 8/5/23
poundstone said:
You realize talking over zoom is still human interaction

It's really not. Not in a natural way. We are re-creating how humans interact in significant ways in unnaturally short periods of time. This is not a healthy transition and is the beginning of a very negative shift in human nature. Especially for those who are young and single, even more so for those who have trouble meeting people and making friends. The loneliness seen in the current youth is very problematic, and work from home will only exacerbate that with no forced day to day interaction outside of zoom meetings (which i find to be idiotic and barely a substitute for interaction as it is and I hate it, but that's maybe just me). Those with families and good social circles will be fine, but those who are trying to start out in life on their own and who are more on the introverted side are not going to do well. And they don't even realize there's a shift that has already been thrust upon society that is obvious for us olds. It's easier for us to adapt, as we saw it happen and are already established, but lots of people won't even realize they had something critical taken away from them.
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Rapier108
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11:55a, 8/5/23
Welcome back, Hedge.
"If you will not fight for right when you can easily win without blood shed; if you will not fight when your victory is sure and not too costly; you may come to the moment when you will have to fight with all the odds against you and only a precarious chance of survival. There may even be a worse case. You may have to fight when there is no hope of victory, because it is better to perish than to live as slaves." - Sir Winston Churchill
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PCC_80
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In reply to AGHouston11 • 12:02p, 8/5/23
AG
AGHouston11 said:
Eliminating actual human interaction isn't necessarily a good thing.

The next step is remote humans will not be needed when AI can do the exact same thing but better.
I read that AI and Robotics will eventually be able to do 60%-65% of all jobs. I am sure that a program/app that can do the typical desk job is much much cheaper than actually paying a human being to perform that job. They are also working on automated trucks and robotic factories and warehouses.

So what do you think happens to 60%-65% of working age people when they are no longer needed ? ? ? Does anyone actually believe that the Govt will actually provide that many people with a monthly check ? ?
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WestTexasAg
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12:03p, 8/5/23
AG
I'm a (slightly) over 50 commercial real estate guy. I have 3 people that work for me. I don't think any of the three would have any desire to be stuck working from home.
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MemphisAg1
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In reply to poundstone • 12:34p, 8/5/23
AG
poundstone said:
All those jobs except doctors are blue collar
Lol, each of those jobs also have white collar administrative and organizational support roles. The manufacturing manager or VP isn't strapped to his/her desk at home in pajamas... they are out and about doing their job. And they're not griping about remote work.
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Logos Stick
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12:34p, 8/5/23
There are certain positions where I think being together in an office is beneficial and a necessity.

Any position involving strategic decision making where creative energy and feedback is required. The informal discussions in the hall, at the cubicle, water cooler, etc is critical in those type roles imo.

Most roles don't require that.
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Frisco
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In reply to Logos Stick • 12:56p, 8/5/23
AG
I agree with most of that, but I think what a lot of people overlook is that to make the jump from the lower levels to that level requires learning those skills
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Aggie95
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1:12p, 8/5/23
AG
I don't know that WFH has peaked but in terms of most big corporations and those that fill commercial real estate, I think there is significant reconsideration going on. Bosses are realizing that only a small fraction of people are self-motivated enough to WFH.

Also, a chunk of commercial real estate will be flipped to residential over the next decade.
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MookieBlaylock
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1:19p, 8/5/23
AG
You realize that 50; year olds aren't boomers

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SpreadsheetAg
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1:21p, 8/5/23
AG
I like my balance ; WFH M&F ; in office T-R... I setup my week on Monday at home ; work / interact / meetings etc for 3 days; then cleanup and setup for next week on Friday at home.
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Rapier108
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In reply to MookieBlaylock • 1:28p, 8/5/23
MookieBlaylock said:
You realize that 50; year olds aren't boomers
Hedge thinks anyone over 30 is a "boomer."
"If you will not fight for right when you can easily win without blood shed; if you will not fight when your victory is sure and not too costly; you may come to the moment when you will have to fight with all the odds against you and only a precarious chance of survival. There may even be a worse case. You may have to fight when there is no hope of victory, because it is better to perish than to live as slaves." - Sir Winston Churchill
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WBBQ74
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1:30p, 8/5/23
AG
There will always be the need to look someone in the eye when discussing things. Hearing the tone of their voice when talking or listening. Email and Zoom are great ways to misunderstand someone if that is the main way of interacting with them. WFH has ups and downs; I have been doing it by myself for 8 years. Agree with the previous posters talking about having how some folks and their positions can handle WFH and some don't. Not enough data yet but I see it as a wash, some winners and some losers.
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agracer
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In reply to AGHouston11 • 1:31p, 8/5/23
AG
AGHouston11 said:
Eliminating actual human interaction isn't necessarily a good thing.

The next step is remote humans will not be needed when AI can do the exact same thing but better.


This, having zero work relationships is detrimental to work quality and teamwork.
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agz win
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1:35p, 8/5/23
AG
Corporate trends is a return to office with flexible days and hours and companies are well aware the fine line to walk to not lose the quality employees.
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DrEvazanPhD
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2:25p, 8/5/23
You can 1-on-1 over zoom. Anything more than that becomes a cluster****
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MaroonStain
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In reply to Rapier108 • 2:30p, 8/5/23
AG
Rapier108 said:
MookieBlaylock said:
You realize that 50; year olds aren't boomers
Hedge thinks anyone over 30 is a "boomer."


They got that from watching South Park marathons while WFH from mom's basement.
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doubledog
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In reply to AGHouston11 • 5:09p, 8/5/23
AGHouston11 said:
Eliminating actual human interaction isn't necessarily a good thing.

The next step is remote humans will not be needed when AI can do the exact same thing but better.
If you exclusively work from home, you can be easily be replaced by anyone anywhere (for less than what you earn)... Think about that.
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Logos Stick
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5:16p, 8/5/23
This is an article from today in the WSJ:

"Companies that allow at least one day of remote work each week increased staffing at nearly twice the rate in the year ended in May than those with full-time office requirements,..."


So year over year, those companies allowing some level of remote work grew employment two times more than those they did not.

Full time employers are losing out in the battle for the top employees imo. You better be giving at least a day of work from home or you're losing out.

The old timers and hard liners better wake up.

I'm almost done and will retire soon. Most of my time was spent in a office chained to a desk. I missed the hybrid work era unfortunately but got to see the best of America.
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Eliminatus
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In reply to doubledog • 5:18p, 8/5/23
AG
doubledog said:
AGHouston11 said:
Eliminating actual human interaction isn't necessarily a good thing.

The next step is remote humans will not be needed when AI can do the exact same thing but better.
If you can work from home, you can be easily be replaced by anyone anywhere... Think about that.


What an absurd statement. Our program manager is WFH in another state and it is a commonly held belief our entire operation would die in apocalyptic fire after just one day if he wasn't doing what he was doing. I would even go so far as to say he is the hardest working person in our organization, period. Or at least tied for first. Truly indispensable.

Man, TA has succumbed to this constant "all or nothing" extreme statements like yours. CAN it be true for some? Of course. But why try to pass it off as pure gospel when it isn't?

People here REALLY need to brush up on their qualifying statements.
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Logos Stick
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In reply to doubledog • 5:19p, 8/5/23
doubledog said:
AGHouston11 said:
Eliminating actual human interaction isn't necessarily a good thing.

The next step is remote humans will not be needed when AI can do the exact same thing but better.
If you exclusively work from home, you can be easily be replaced by anyone anywhere (for less than what you earn)... Think about that.


That ship has sailed. They've been offshoring and outsourcing white collar workers since 2000.
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Eliminatus
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In reply to Logos Stick • 5:28p, 8/5/23
AG
Logos Stick said:
This is an article from today in the WSJ:

"Companies that allow at least one day of remote work each week increased staffing at nearly twice the rate in the year ended in May than those with full-time office requirements,..."


So year over year, those companies allowing some level of remote work grew employment two times more than those they did not.

Full time employers are losing out in the battle for the top employees imo. You better be giving at least a day of work from home or you're losing out.

The old timers and hard liners better wake up.

I'm almost done and will retire soon. Most of my time was spent in a office chained to a desk. I missed the hybrid work era unfortunately but got to see the best of America.


This is certainly true in some industries. I graduated recently and amongst the majority of my peers, hybrid work was a very high priority when discussing vocation options. Especially fields that were not pure wrench turning OR office work but both. My field is one of those competing for these types of new graduates and it absolutely is a consideration and one we have to be mindful of. As I have gotten older I finally understand the difficulty of finding, properly utilizing, and retaining high caliber employees. It's crucial to get and keep what you can. If our world and society keep changing, zero reason big business gets to stay "as is". Everyone has to adapt to our world. If the old world has to bend a little to keep having a shot at landing these individuals, then so be it. Because a lot of them WILL pass you over if potential hybrid work is the difference between you and a competing company.
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Al Bula
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In reply to doubledog • 5:30p, 8/5/23
AG
doubledog said:
If you exclusively work from home, you can be easily be replaced by anyone anywhere (for less than what you earn)... Think about that.
Please do the needful and check out how infosys, tata, nttdata and other "managed service providers" have been scamming c-level types for decades.

Kindly revert back to me with your findings.
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MaxPower
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In reply to AGHouston11 • 5:37p, 8/5/23
AGHouston11 said:
Eliminating actual human interaction isn't necessarily a good thing.

The next step is remote humans will not be needed when AI can do the exact same thing but better.
I don't disagree but the work environment has been evolving since industrialization. For thousands of years humans lived in small villages, family farms or small nomadic tribes. The possibility of seeing thousands of people just in the 30 minutes it takes to get to work was never "natural". I'd wager big cities have brought about a lot of anxiety that didn't exist when you literally knew every single person you saw everyday of your entire life. Yet we have adapted (as best we can) to this way of living.
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