Anonymous wrote:Kvetch all you want, but Feds are going to be in office 3 days per week by 1Q2024. Sure, it's not going to be enough to "save CRE." But vast majority of large companies and organizations are back in person for a meaningful part of the week. The Federal government is a similarly large organization.

It is what it is. Make peace with with it. Accept it. Make a plan to deal with it, or start polishing that resume.

-Fed currently in the office 4 days/week

Anonymous wrote:Kvetch all you want, but Feds are going to be in office 3 days per week by 1Q2024. Sure, it's not going to be enough to "save CRE." But vast majority of large companies and organizations are back in person for a meaningful part of the week. The Federal government is a similarly large organization.

It is what it is. Make peace with with it. Accept it. Make a plan to deal with it, or start polishing that resume.

-Fed currently in the office 4 days/week

Anonymous wrote:

Even if so, isn't that like 2 days a week for some divisions?


My program (different mid-sized agency) is talking 3 days a week to keep your office. No one talked about it for many months but, all of sudden, it's on the table again.

So you could go in somewhat less often but give up your office? That doesn't necessarily seem unfair to me, if people are going in less often it makes sense to give up space.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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 an economic maelstrom to be unleashed.

Oh please. Federal employees working remotely do not have the power to tank the economy. Lol!!! The histrionics are hilarious.

Clearly you missed what Bowser is crying about. DC is in deep do with budget shortfalls starting in 2024.

She is desperate for feds to return. The metro is also losing massive amounts of money due to wfh.

https://www.nbcwashington.com/news/local/cfo-warns-dc-tax-revenue-to-drop-by-464m-budget-cuts-to-follow/3289228/

https://www.politico.com/news/magazine/2023/01/20/bowser-biden-federal-workers-washington-dc-00078677

https://www.dcnewsnow.com/news/local-news/washington-dc/metro-projects-750-million-deficit-which-could-lead-to-reduction-in-bus-rail-service/


Anyone saying feds wfh aren’t problematic for DC and commercial RE is delusional. This same kind of story is playing out across the country. Commercial RE is in dire straits. Once a bank collapses due to huge losses it will be contagion. Localities are going to up sh!ts creek without a paddle as their tax base abruptly implodes, since they’ve built budgets based on commercial RE values that no longer exist.

Sure. But ordering feds back is like throwing a rock into a rushing stream. It’s not going to do much.

Commercial real estate won’t come back so long as the backbone of the US economy is small and medium businesses, many of which have realized enormous cost savings by moving to remote work.

This. It is amusing to watch people try to suck the toothpaste back into the tube though.

Even if so, isn't that like 2 days a week for some divisions?


My program (different mid-sized agency) is talking 3 days a week to keep your office. No one talked about it for many months but, all of sudden, it's on the table again.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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 an economic maelstrom to be unleashed.

Oh please. Federal employees working remotely do not have the power to tank the economy. Lol!!! The histrionics are hilarious.

Clearly you missed what Bowser is crying about. DC is in deep do with budget shortfalls starting in 2024.

She is desperate for feds to return. The metro is also losing massive amounts of money due to wfh.

https://www.nbcwashington.com/news/local/cfo-warns-dc-tax-revenue-to-drop-by-464m-budget-cuts-to-follow/3289228/

https://www.politico.com/news/magazine/2023/01/20/bowser-biden-federal-workers-washington-dc-00078677

https://www.dcnewsnow.com/news/local-news/washington-dc/metro-projects-750-million-deficit-which-could-lead-to-reduction-in-bus-rail-service/


Anyone saying feds wfh aren’t problematic for DC and commercial RE is delusional. This same kind of story is playing out across the country. Commercial RE is in dire straits. Once a bank collapses due to huge losses it will be contagion. Localities are going to up sh!ts creek without a paddle as their tax base abruptly implodes, since they’ve built budgets based on commercial RE values that no longer exist.

Sure. But ordering feds back is like throwing a rock into a rushing stream. It’s not going to do much.

Commercial real estate won’t come back so long as the backbone of the US economy is small and medium businesses, many of which have realized enormous cost savings by moving to remote work.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

Biden didn’t order Feds to RTO. A member of his staff wrote a lukewarm memo. If the President was serious about RTO, he could simply demand tomorrow all feds report. By the way it’s not the responsibility of the good citizens of MD an VA to prop up the District’s economy. I guarantee you that a month from now commuting into DC will be unchanged from what it’s been over the past 18 months. No agency head is going to give two cents to what Zients says.

False. My neighbor works for HHS. They’re basically expected to RTO normally by end of year. Well, at least that’s what she told me the other day while I was out mowing my lawn.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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 an economic maelstrom to be unleashed.

Oh please. Federal employees working remotely do not have the power to tank the economy. Lol!!! The histrionics are hilarious.

Clearly you missed what Bowser is crying about. DC is in deep do with budget shortfalls starting in 2024.

She is desperate for feds to return. The metro is also losing massive amounts of money due to wfh.

https://www.nbcwashington.com/news/local/cfo-warns-dc-tax-revenue-to-drop-by-464m-budget-cuts-to-follow/3289228/

https://www.politico.com/news/magazine/2023/01/20/bowser-biden-federal-workers-washington-dc-00078677

https://www.dcnewsnow.com/news/local-news/washington-dc/metro-projects-750-million-deficit-which-could-lead-to-reduction-in-bus-rail-service/


Anyone saying feds wfh aren’t problematic for DC and commercial RE is delusional. This same kind of story is playing out across the country. Commercial RE is in dire straits. Once a bank collapses due to huge losses it will be contagion. Localities are going to up sh!ts creek without a paddle as their tax base abruptly implodes, since they’ve built budgets based on commercial RE values that no longer exist.

Sure. But ordering feds back is like throwing a rock into a rushing stream. It’s not going to do much.

Commercial real estate won’t come back so long as the backbone of the US economy is small and medium businesses, many of which have realized enormous cost savings by moving to remote work.

That depends on the size of the rock.

Anonymous wrote:

Anonymous wrote:

Biden didn’t order Feds to RTO. A member of his staff wrote a lukewarm memo. If the President was serious about RTO, he could simply demand tomorrow all feds report. By the way it’s not the responsibility of the good citizens of MD an VA to prop up the District’s economy. I guarantee you that a month from now commuting into DC will be unchanged from what it’s been over the past 18 months. No agency head is going to give two cents to what Zients says.


False. My neighbor works for HHS. They’re basically expected to RTO normally by end of year. Well, at least that’s what she told me the other day while I was out mowing my lawn.

Even if so, isn't that like 2 days a week for some divisions?

My program (different mid-sized agency) is talking 3 days a week to keep your office. No one talked about it for many months but, all of sudden, it's on the table again.

Anonymous wrote:

Biden didn’t order Feds to RTO. A member of his staff wrote a lukewarm memo. If the President was serious about RTO, he could simply demand tomorrow all feds report. By the way it’s not the responsibility of the good citizens of MD an VA to prop up the District’s economy. I guarantee you that a month from now commuting into DC will be unchanged from what it’s been over the past 18 months. No agency head is going to give two cents to what Zients says.


False. My neighbor works for HHS. They’re basically expected to RTO normally by end of year. Well, at least that’s what she told me the other day while I was out mowing my lawn.

Even if so, isn't that like 2 days a week for some divisions?

Biden didn’t order Feds to RTO. A member of his staff wrote a lukewarm memo. If the President was serious about RTO, he could simply demand tomorrow all feds report. By the way it’s not the responsibility of the good citizens of MD an VA to prop up the District’s economy. I guarantee you that a month from now commuting into DC will be unchanged from what it’s been over the past 18 months. No agency head is going to give two cents to what Zients says.


False. My neighbor works for HHS. They’re basically expected to RTO normally by end of year. Well, at least that’s what she told me the other day while I was out mowing my lawn.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

Biden didn’t order Feds to RTO. A member of his staff wrote a lukewarm memo. If the President was serious about RTO, he could simply demand tomorrow all feds report. By the way it’s not the responsibility of the good citizens of MD an VA to prop up the District’s economy. I guarantee you that a month from now commuting into DC will be unchanged from what it’s been over the past 18 months. No agency head is going to give two cents to what Zients says.

You don’t know politics obviously. That’s not how it works. COS speaks for the president.

No they don’t.

So, you think Zients sent this out without Biden's blessing? Only 15 months before the election?

Could care less what Zients sent out. He has ABSOLUTELY ZERO authority over agency heads. The President does though and if this were an issue he would speak out on it. I guarantee there will be no significant impact from this announcement. If you think we Feds will RTO from this memo, I have a bridge to sell you.
It’s obvious you have no idea how politics work.

I am a pro-WFH but, as much as I want you to be right, I think you are wrong. COS is COO of Biden administration. You really shouldn't "guarantee" something you know nothing about.

Whatever. Again , if it was an issue President Biden would have spoken on it. It’s not an issue though and this is why it was staff that pushed out the memo. And if there’s any confusion, I GUARANTEE that there will be no significant RTO in the District.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

Biden didn’t order Feds to RTO. A member of his staff wrote a lukewarm memo. If the President was serious about RTO, he could simply demand tomorrow all feds report. By the way it’s not the responsibility of the good citizens of MD an VA to prop up the District’s economy. I guarantee you that a month from now commuting into DC will be unchanged from what it’s been over the past 18 months. No agency head is going to give two cents to what Zients says.

You don’t know politics obviously. That’s not how it works. COS speaks for the president.

No they don’t.

So, you think Zients sent this out without Biden's blessing? Only 15 months before the election?

Could care less what Zients sent out. He has ABSOLUTELY ZERO authority over agency heads. The President does though and if this were an issue he would speak out on it. I guarantee there will be no significant impact from this announcement. If you think we Feds will RTO from this memo, I have a bridge to sell you.
It’s obvious you have no idea how politics work.

I am a pro-WFH but, as much as I want you to be right, I think you are wrong. COS is COO of Biden administration. You really shouldn't "guarantee" something you know nothing about.