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Anthony Sanders's avatar

I respectfully thinks this misses a market dynamic. One group that incredibly benefits from WFH flexibility are parents of school-aged kids. Although they've hated schools closing they've loved the lessened need for child care outside of school and other flexibility. If there's an option, they'll flee places that go back to 5 days a week office. And there are options! Lots of employers were already starting to offer remote positions before the pandemic. Those won't go away, and will only grow. BigLaw, gov offices, etc., will all be competing against them for a not-insubstantial group of employees. They can try to go back to all office, all the time, but like the Big Three clinging onto outdated manufacturing, labor policies, and warrantee practices in the '70s, it's only a matter of time.

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Peter  D. Lederer's avatar

Other than anecdotally it seems difficult to get information. UBS for one seems to have decided that five days in office will NOT be their norm. Sizeable enterprises are apparently subletting millions of square feet of space; if true, this is at a minimum is a decision that cannot be reversed for some years. I understand that Jamie Dimon would prefer to keep all noses to the grindstone--but then his generation will soon be irrelevant.

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