A shift to remote working is likely to wipe off $800 billion from the value of office buildings in major global cities by 2030, according to a study published by consulting firm McKinsey on Thursday.
A shift to remote working is likely to wipe off $800 billion from the value of office buildings in major global cities by 2030, according to a study published by consulting firm McKinsey on Thursday.
Good. Property values are a necessary evil in our economic system to allocate finite amounts of land. Unlike say the value of a company that makes things, which reflects the utility gained from it’s products, property values mostly represent scarcity, falling property values therefore indicates that we have partially mitigated that scarcity.