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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Because the country cannot tolerate WFH.

Banks are sh!tting bricks right now about huge losses they would be on the hook for as commercial real estate values tank due to WFH. City govts across the country are also in deep dookie as they are losing massive amounts of tax revenue due to commercial real estate vacancies. Converting offices to living space doesn’t solve the problem either, because local govts get 2x the amount of tax revenue from commercial RE as they do from residential.

Biden is moving t push fir RTO because our banking overlords will losing trillions of dollars due to huge losses in commercial RE value. Tons of local govts will also go bankrupt and spiral into insolvency. SF has now blown up its budget and is running almost $1B in the red now.  DC warned the same, and is almost $500M in the red over the coming years due to huge losses in tax revenue from office vacancies.  Our entire stupid system is built upon RE speculation, thus when the model gets completely upended the country is now at dire risk for a massive black swan event that will crater the economy.  All it is going to take is one bank going belly up and citing commercial RE losses for a economic maelstrom to be unleashed.[/quote]

Forcing feds back isn’t going to make a dent in that issue.

The problem with commercial RE is that it makes a significant amount money from millions of small businesses: Accounting firms. Law firms. Small consultants. Architects. Etc. Pre-pandemic, many of these businesses didn’t need office space but kept it for appearances as there was a professional obligation to have an office. That has now disappeared. And some federal workers forced to commute is going to have zero impact on the desire of these businesses to cut deeply into their profits to pay for an office they don’t need.

What will happen — is already happening — is that businesses will have to pay premiums for workers to force them in person. BigTech and finance already do this. They can order workers back because it’s not easy for those workers to find jobs as highly compensated elsewhere. But the federal government does not pay well enough to be able to do the same thing.

People, especially people with marketable skills, value their flexibility highly. They want to be able to go to the dentist, to be home when a package arrives, to not scramble for a nanny if a kid is sick. So they will price that accordingly.

You can’t put the genie back in the bottle, no matter what Biden’s donors wish. Commercial real estate already has collapsed broadly. The world has changed. Wishing for the past to return is simply not going to fix the problem you lay out, because a few large employers forcing people back is not going to remove the cost incentives the vast number of small businesses are experiencing. The dam has already broken.

I’m not a fed, before the anti-fed people freak out at reading hard truths. [/quote]

I mostly agree with what you wrote, the toothpaste IS out of the tube, but politics is more concerned with appearance vs. actual results,  especially this administration.
By reinstating RTO, the appearance of "back to work" is made even though the actual reality will be lack of overall productivity, waste of time and resources.
Angry feds (who already know and understand the better value / economics of WFH) will react accordingly.[/quote]

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