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Contrary to common fears, Covid-19’s long-term effect on office demand might actually be accretive, or at least not destructive, says Kevin White, Global Co-Head of Real Estate Research and Strategy at DWS.
As investors are starting to come to grips with Covid-19, many are concerned that the recent trend toward working from home (WFH) will reduce the need for office space. Already, there are reports that various businesses are re-evaluating their long-term real-estate plans.] During his June testimony before Congress, even U.S. Federal Reserve (Fed) Chair Jerome Powell acknowledged that Covid-19 has accelerated changes that were already happening in the workspace. "The pandemic revealed just how many offices were being run as relics of the 20th century," The Economist...
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