[300bps]

3.5% unemployment rate = nothing will get people back into office if they don't want to be in the office.

This all flips around at some point though. Maybe 10% unemployment?

For me, I'm looking incredulously at people making decisions on where to live assuming that "work from home" is locked in forever. I know someone who is in the process of settling on a house in the middle of nowhere working for a large publicly traded company remotely. The company just posted their first quarterly loss in forever.

If she ends up losing that job, she'll be 100% dependent on being able to find another remote position or be forced to sell her house.

[shortrounddev2]

That's true for anywhere you live. If I get a new job in New Jersey and buy a house there, then I will have to get another job in New Jersey or sell my house if I lose that job.