Posted Mar 31, 2021, 5:43 PM
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Registered User
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Join Date: Jan 2010
Location: Hamilton
Posts: 11,640
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I don't think you will see demand for office decline precipitously. You may see it decline 5-10%.. but that will be made up for with market growth in the near future.
What you likely will see is a rapid decline in the population density of offices as people are allowed to work from home more often. They may still have a physical office space, but they won't be there 5 days a week like they were in 2019.
So NYC office vacancies will likely stay relatively low.. but the sidewalks may not be as busy, the subway may not be as crowded, and the traffic may not be as bad.
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