realestate

Office Commute Shift: What Homeowners Think

Remote workers cite commute as reason to seek new job if forced back to office full-time.

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recent survey of nearly 1,600 homeowners found that 37% of remote and hybrid workers would rather look for a new job than return to the office full-time. The main reason cited was the potential need to endure long commutes or relocate. This trend is expected to impact where people choose to live, with proximity to work becoming a more significant factor.

    Older employees are particularly resistant to returning to the office, with 43% of those over 50 saying they would quit or look for a new job rather than go back full-time. In contrast, younger workers were less likely to make this choice, with only 32% of those in their 40s and 34% under 40 willing to give up their jobs.

    As companies phase out remote work, home sales are expected to rise, particularly in areas close to central business districts. However, some homeowners are determined to stay put, even if it means finding a new job. This shift could lead to a decrease in demand for homes in outer locations and a corresponding increase in values for properties near city centers.

    Investor sentiment remains cautious regarding office space, with only 19% of those surveyed planning to increase their exposure to the market. Despite this, some investors see potential opportunities to purchase office buildings at discounted prices, which could pay off if employers successfully bring workers back into the office.

Homeowners discuss shift in office commute habits amidst changing work environments nationwide.