Return to Work policies affect the Office and Residential Markets
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According to a recent Wall Street Journal article, office attendance has increased to 50.5% of pre-pandemic levels. More and more businesses are changing their policies to require greater in-office attendance. The implications of these evolving policies extend beyond the workplace and into the real estate markets, influencing both the office and residential sectors. Office tenants are looking at upgrading their space to include attractive amenities and private spaces. This change in policies has also inspired some homeowners to move closer to the office rather than continue a long commute. This is a strong example of the relationship between Commercial and Residential Real Estate.