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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][quote=Anonymous]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] ...did you read any links I posted? Am I arguing with a robot?! (Jokes on me, if so.) Goldman is at 2-3% today, and they plan to ramp up to 50% eventually, with the other 50% of their workforce permanently work from home.[/quote] Did you notice that article is 8 months old? If they were at 2% in June 2020 - why would it be the same in February 2021?[/quote] I don't work with Goldman but I work with another bank and their reopening efforts ran smack into the second and third waves of the virus. They are still at the same levels they were back then. Traders are fully remote and everybody seems happy so it's a major ? what will happen next. The CRE market has put a lot of pressure on the banks because it's an existential threat for them. The most bullish move is Amazon buying up huge amounts of space in NYC for their NY-HQ2 because they think young college grads will want to move there no matter what. Facebook has leased some but the other tech companies are not biting.[/quote]
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