New Yorkers not returning to offices

[Tom]

And yet they still deserve a "living wage."

[Rex Phinney]

Originally Posted by PaceAdvantage

Call centers are filled with basically transient-type of workers....so I'm not surprised that call centers are experiencing lowered productivity....

What is the average time someone working in a call center stays with that job? I'm guessing it's pretty freakin' low.

Like I said we will see what happens.


I've been on enough zoom calls with people and there screaming kids or barking dogs in the background that it's affecting who I do business with. I suspect I'm not the only person who feels that way. Add in the fact that a significant portion of people are going to be sick and tired of their spouse and/ or homelife and they will welcome a change.


Now I don't this this totally means that NY or LA or other big cities are coming back full strength, the exodus from those places is real. The costs are out of control and the shine has certainly worn off some of those business districts. LA looks like a damn third world country (and has for many years) that people are potentially tired of paying extortion level rent in those areas is very legit.

[TJDave]

Originally Posted by Dave Schwartz

BTW, California worked hard to make this illegal.

Most of the original bill has been walked back.

I believe the original intent was to recoup billions in uncollected taxes.

Gig workers have been skating by for decades.

[KarlieBo]

I think there will be some sort of equilibrium. If no one goes back to the office the people that rent out those offices will eventually have to lower prices, improve their product, or liquidate. There are plenty of businesses that will use the hardship of the commercial RE owners to their advantage.

[JustRalph]

Punch “I’m never going back into the office” into google.

Lots of stuff to read.

I read a piece a few months ago by a lady who had been working from home since April 2020. Her office group was planning a return and had a meeting to decide when to return. This was right when the vaccines were announced. She explained that most of her office mates earned between 70-150k a year. After they agreed to meet again in 2 weeks to consider more on when to return to the office, emails starting flying around between them. 80% of the group said they will be job hunting immediately. They will not return to the office environment no matter the consequences. Some of the lower paid employees stated they will resign as soon as they are required to return, if they haven’t found something new. The thinking being they could find lower paid jobs easier.

In the 2nd meeting on when to return, 2 parties in the meeting including the author, told the boss that if they couldn’t keep working from home they would be leaving as soon as they found something else. He asked how many felt the same way? Half his staff said they may go the same way, although maybe not right away.

I have a feeling these kind of discussions are being zoom called multiple times a week in our current environment.

I like Dave’s point too. No rent means more flexible money. As a business owner, any extra money that isn’t already earmarked, is a windfall of great importance. Most fixed costs eat up your cash. They are there every month. But freed up money allows you to dream, and maybe fulfill some long standing needs.

[JustRalph]

Originally Posted by KarlieBo

I think there will be some sort of equilibrium. If no one goes back to the office the people that rent out those offices will eventually have to lower prices, improve their product, or liquidate. There are plenty of businesses that will use the hardship of the commercial RE owners to their advantage.

I can tell you this. I have contact and survey data with 400 restaurants who asked landlords to provide some relief. 19% said they got some kind of relief from their landlords.

The commercial development owners in this country have hurt their relationships with tenants beyond repair. In the future tenants will take every advantage to get out or move. It’s going to be a clusterphuck down the road.

[davew]

Originally Posted by KarlieBo

I think there will be some sort of equilibrium. If no one goes back to the office the people that rent out those offices will eventually have to lower prices, improve their product, or liquidate. There are plenty of businesses that will use the hardship of the commercial RE owners to their advantage.

Welcome to the boards KarlieBo. I agree with you, but the sidewalk level space will probably drop the most until the police regain control of the streets.

[Tom]

Ever been to Detroit?

[JustRalph]

https://hotair.com/headlines/archive...reopened-city/

Cindy Adams on an empty NY

[PaceAdvantage]

Wait...didn't everyone scoff at me when I said this would happen eons ago?

Where's Jerry Seinfeld now?

[thaskalos]

"Opening up the economy" is one thing. Getting people to go out and act "normally" is something else entirely.

[tbwinner]

Offices different than call centers. NYC not full of inbound or outbound call centers...

Have you ever worked in an office? Do you know how much time gets wasted there? People waste time wherever they are, office, home, doesn't matter..

So when will the REIT bailout be coming?

[JustRalph]

Originally Posted by thaskalos

"Opening up the economy" is one thing. Getting people to go out and act "normally" is something else entirely.

We are learning that here in Houston

[Tom]

Originally Posted by PaceAdvantage

Wait...didn't everyone scoff at me when I said this would happen eons ago?

Where's Jerry Seinfeld now?

He moved to the Hamptons.

[Rex Phinney]

https://www.cnbc.com/2021/03/31/goog...tent=algorithm

Google looking to drag bitches back to the office.....