[stellar678]

In other news, water is wet.

Is it surprising to people who are working from home, that the office they used to work in and cannot yet return to is now vacant?

People have been calling the collapse of San Francisco since the gold rush. It's clearly had its ups and downs, but the overall trend is clear too.

[quickthrower2]

Well this isn't the collapse of San Fransisco - but rather the office rental market. Also interesting that people let go of the office space. Companies making a lot of money wouldn't do that they'd keep it for a year or so simply to have the continuity. They are too busy making money to worry about their rent.

But if they are looking to cut back on rent costs it makes me think times are tough. That paying attention to cutting this cost (and the hassle it will cause now and when things return to normal), and taking that attention away from growth means that there is an issue.

Obviously this isn't the permanent collapse of SF but it might be a nail in it's long term coffin. I can't imagine in 50 years time, with globalisation, with global currencies, remote working, VR etc. that you'd need to be tied to a physical location to innovate or get investment.

[rightbyte]

I guess this number doesn't include vacant as in barely anyone actually using the office space but still leased. In that case 14% vacancy rate sounds low.