OFFICE SECTOR STRUGGLES
Alexander called office spaces “the country’s most lackluster segment,” with little hope of returning to pre-pandemic norms.
While employment growth might bolster some recovery, he said that a “changed culture favouring work-life balance suggests a return to pre-pandemic occupancy in the office sector is unlikely.”
RE/MAX’s report bore that out, finding the office sector was struggling “in markets across the country” with the rise of hybrid work. Some companies are trying to incentivize employees back to work with a “more social component” of office life, while others are considering reducing their physical footprints.