The coronavirus pandemic forced many people to work from home. NPR looks into what remote work from home could mean for commercial real estate.
AUDIE CORNISH, HOST:
People are going out less and working from home more because of the coronavirus pandemic. But what will happen to all the office buildings and retail space that depend on people leaving their homes and going to work? Stacey Vanek Smith and Cardiff Garcia from our daily economics podcast The Indicator From Planet Money look into what working from home could mean for commercial real estate.
(SOUNDBITE OF ARCHIVED NPR BROADCAST)
CARDIFF GARCIA: Steve Rappaport has been in the commercial real estate business in Manhattan for 15 years. And he says it is not for the faint of heart.
STACEY VANEK SMITH: You have to hustle for everything.
STEVE RAPPAPORT: Yep, so no deals, no commission.
VANEK SMITH: And, of course, it’s not