Posted 12/16/2023, 12:51:00 AM
Remote Work Exodus to Slash Office Values by 43% and Leave $1.5 Trillion Debt Vulnerable
- America's office market value to plunge 20% in 2023 due to declining demand and remote work trends
- Vacancy rates at all-time highs currently and expected to rise further over next couple years
- Total peak-to-trough decline estimated at 43% by Capital Economics
- May take 2+ decades for office values to recover to early 2020 levels
- $1.5 trillion in commercial real estate debt maturing over next few years could lead to distress