The public health events of the past few years changed our society as most of us knew it. Downtown commercial office space in our cities remains widely available. Even the sprawling suburban campuses around those large cities designed to entice workers to work closer to home for work-life balance are now being sold at a fraction of what those properties were valued at just several years ago. As a railfan, I know that ridership on commuter trains remains significantly below pre-March 2020 levels.
From baby boomers to millennials, folks are working remotely. This is not entirely new to some verticals, but for many industries and markets, it is. A 4-day office work week with a remote Friday or Monday was well-established in the past. After 9/11, many large companies with operations in large urban areas established virtual private networks should the need for them arise in our future. Insurance, retail, sales and marketing, financial houses, consultants and the like had many of the necessary components in place in March 2020 for this transition.