Katie Warren/Business Insider
Offices, hotels, and malls have been emptied by the coronavirus, which could lead long-term disruption in our day-to-day lives.
The coronavirus has provided the largest experiment ever in remote work. Experts say it will forever change our relationship with the physical office.
Flex-space providers like WeWork, Knotel, and Convene, rental startups like Sonder and Zeus Living, iBuyer Opendoor, and brokerages including Compass and Redfin have laid off or furloughed staff.
Companies like Macy’s are rethinking their office footprints.
Customer behaviors are also changing how we buy and order, and that could have long-term effects on areas like industrial real estate.
The coronavirus has thrown the real-estate world into disarray, as people empty out of offices, hotels, and malls and work from their homes. The spread of the virus and the economic disruptions that have followed are transforming how people finance, operate, and occupy real estate.
We’ve been tracking a slew of layoffs in the venture-backed real estate world, as empty short-term rentals and coworking spaces have hit once-buzzy industries hard. And we’re looking at at how big companies are rethinking office needs and the way big commercial real-estate deals are being impacted.
We’re also keeping tabs on what experts are saying about the industry, and the future of offices as the virus has created the biggest experiment in remote work ever.
Have a tip about layoffs or major changes in this space? Contact this reporter through the secure messaging app Signal at +1 (646) 768-4772 using a non-work phone, email at [email protected], or Twitter DM at @AlexONicoll. You can also contact Business Insider securely via SecureDrop.
Here’s everything we know right now:
Read the original article on Business Insider