Office buildings won’t bounce back from pandemic-related value reductions for nearly two decades, according to a new analysis reviewed by Bloomberg. Research from Capital Economics released Thursday found that office values won’t get back to pre-pandemic levels until about 2040, citing the move of people away from city centers and remote work. “The reduction in office demand due to remote work will cause a hit to net operating incomes on a par with, or worse than, that experienced by malls over the last six years,” the report’s authors said. “And in line with the experience of malls, the structural nature of this hit to demand means the 35% plunge in office values we’re forecasting
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