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Reply to "What is truly going on with the DC area real estate market, please explain? "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]This is funny to me. You basically just picked the things you wanted because you hope it works that way. Foreclosures and a bubble aren't happening. They haven't happened even though you've been calling for it since 2015.[/quote] July 2005 INTERVIEWER: Ben, there's been a lot of talk about a housing bubble, particularly, you know [inaudible] from all sorts of places. Can you give us your view as to whether or not there is a housing bubble out there? BERNANKE: Well, unquestionably, housing prices are up quite a bit; I think it's important to note that fundamentals are also very strong. We've got a growing economy, jobs, incomes. We've got very low mortgage rates. We've got demographics supporting housing growth. We've got restricted supply in some places. So it's certainly understandable that prices would go up some. I don't know whether prices are exactly where they should be, but I think it's fair to say that much of what's happened is supported by the strength of the economy. [quote=Anonymous]As for WFH...tell me, how is tech/Fortune 500 embracing WFH? Facebook already said if you choose to work outside of Silicon Valley (not even WFH just out of their regional preference) they will dock your pay. Amazon is moving forward with a 35,000 square 2nd headquarters in the DMV ready to open in 2022/2023. Financial companies have been caught trying to buy up vaccines to force traders back to the floors. So again - where is your huge WFH movement? I think we'll see this in extremely small (read under 500 employees) companies. The kind that could barely afford the office space and had very few workplace benefits in the first place. Maybe even a few high-quality tech companies like Salesforce. But big ones? Like Goldman, Deloitte, Facebook, Google, Amazon. Not a chance. [/quote] https://www.businessinsider.com/facebook-hiring-remote-work-director-permanent-work-from-home-shift-2020-9 "Mark Zuckerberg has said he expects half of the company's workforce to work remotely within the next 10 years." https://www.businessinsider.com/salesforce-employees-can-work-from-home-permanently-2021-2 "Salesforce says 'the 9-to-5 workday is dead' and will provide 3 new ways for employees to work — including the possibility of working from home forever." https://www.forbes.com/sites/danabrownlee/2020/05/18/twitter-square-announce-work-from-home-forever-optionwhat-are-the-risks/?sh=3fb8ef0c2565 "Recent announcements that virtually all Twitter and Square employees will have the option to work from home forever sent shock waves through business communities already grappling with the difficult decision of how and when to reopen amid the Covid-19 pandemic." https://www2.deloitte.com/global/en/pages/tax/covid-19/where-your-employees-work-next-normal.html A white paper in which Deloitte makes the argument that the majority of the white collar/tech/knowledge workforce will expect to telework/work remotely in the future, and companies need to embrace this to remain competitive. https://www.reuters.com/article/us-health-coronavirus-goldman-sachs/goldman-sachs-ceo-says-staff-back-at-offices-in-asia-but-not-new-york-london-idUSKBN22H2IE "What’s interesting, however, is that the current plan, even in the Asian offices, is meant to take Goldman from its current position of having only 2% of its staff in the offices, to 20% and then eventually to 50%. At present, there’s no plan at all to get the offices any more than half full. But where are the other 50% going to be? It’s likely that a lot of IT staff, including the “technology fellows” and “engineers” building trading platforms and risk management systems, will be best suited to working remotely; many of them may even prefer their own environment to the distractions of a bank. It also seems, anecdotally, to be the case that a lot of salespeople and traders, once removed from the proverbial bustle and energy of the trading floor, have begun to realise that it was more of an irritating distraction than a source of synergy, and that all the information they need to exchange can actually be typed into Bloomberg chat."[/quote] So Goldman Asia is already at 50% capacity in offices when vaccines were just approved 30 days ago? Yeah. Okay. Let's see what happens by end of 2021 year. [b]In the memo, which was verified by a bank spokeswoman, Chief Executive Officer David Solomon said Goldman is also considering “the feasibility of testing (staff and visitors for the coronavirus), subject to availability and more information on the accuracy of results.” Large banks worldwide have been developing plans to gradually return staff to offices after nearly two months of working remotely and from home during the outbreak of the novel coronavirus.[/b][/quote]
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