Casualties of the Crisis: Real Estate and College Campuses

In coming months, the world is due for a major collapse of real estate prices. The lockdowns prompted by Covid-19 have exposed the inherent weaknesses of most forms of "place". Offices, retail stores and expensive homes just don't have the same intrinsic value that they did five months ago, and a painful reckoning is at hand. With many employees and college students working successfully from home, it is becoming clear that knowledge work doesn't require a special location. The virus has given a huge boost to telecommuting, and once these wheels have been set in motion, they can't be turned back. The victims of the change are landlords providing office space and colleges forced to maintain expensive buildings that aren't being used, as well as all the workers who construct and maintain these facilities. Homeowners in major cities will also face losses as telecommuters flee to less expensive cities. Knowledge workers may have easier lives, but anyone who are already invested in real estate may face devastating losses. — Website: DemographicDoom.com — Instagram & Twitter: @DemographicDoom — See the video version of this episode for notes, comments, corrections & links to other resources: j.mp/dd_realestate [ep 44, 24 May 2020] ***** PODCAST IS ON HIATUS after this episode while I work on a book manuscript. See DemographicDoom.com