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Employers push for staff to return to the office after working from home as commercial property values plunge (www.abc.net.au)

submitted 8 months ago by [email protected] to c/[email protected]

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[–] [email protected] 2 points 8 months ago* (last edited 8 months ago) (1 children)

Too many damn companies lease. I would argue that the bulk of tech office space in a place like San Francisco is leased. Hell, even Salesforce is a tenant in Saleforce tower.

Sure, a handful of giants own their properties, but I would argue that a lot of the people asking to “return to the office” wouldn’t benefit from increased real estate prices. It drive up their leases when / if they renew.

[–] [email protected] 2 points 8 months ago* (last edited 8 months ago) (1 children)

But the giants are the ones who set the culture for everybody else.

Also, a company might still have holdings/shares/whatever in funds that have invested in commercial real estate.

Also also, if too many companies lease, then why would sunk-cost fallacy act as an explanation?

[–] [email protected] 1 points 8 months ago

Sunk cost comes into play because we’re locked into a lease agreement for a predefined period of time, and we bought a bunch of shit to make the office work for us.