Thursday, May 18, 2023

Are empty office buildings around the U.S. going to remain empty? Likely yes

Why is this?

Because 40% of people now work from home and NEVER need to go to the office ever again. This is especially true of Certified public Accountants more than any other profession. But, also many other professions do not require people to be at an office all the time. Someone from Shark tank was saying this is good for most investors because many stocks are giving now not a 15% return per year but now up to 17.5% return on average.

He says this is because many businesses have less overhead costs now that they don't have to rent office space that much so this makes many businesses more profitable with less overhead.

So, I'm thinking a lot of office space will either be torn down or converted into apartments for homeless people or low income people?

This would make some sense. However, zoning laws might have to change in many cities to facilitate this.

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