Working From Home to majorly impact property market in the future?


#22

Google bought at least three of the buildings on Barrow street. They are not leasing them. I think they might have even bought four or five. As far as I remember they also might have even bought a house there as well. They got some of them for low values in the last downturn.


#23

I will soon be back in office… just to introduce new engineer to work. I am really reluctant to commute even just for few days. I’ve worked at home for over a year prior to covid and I don’t really want to get back to office for more than 1 or 2 optional days per week…
We have similar feeling in our “100% remote team”.

For expensive places like Ireland the whole shift to remote work is very dangerous, If Joe is in Kerry and there are no issues with performance, companies will eventually open more to “remote remote people, just cheaper” e.g. East Europe.
At the same time companies in EE will struggle even more to attract best talent… but will the world is really finally getting smaller ?

At the moment job and office markets are just waiting what is going to happen during second wave and/or if US crash will actually happen.


#24

The great irony being that the number 1 reason why ‘the Irish are expensive’ is because they have to absorb high property costs

It’s not quite a generation since the Irish could slug it out with some of the best, where necessary.


#25

The US housing market is booming. Last month existing home sales grew by almost 25% month-on-month. That makes 101 consecutive months of reported gains.

The Chief Economist at the National Association of Realtors

attributed the changes to homebuyers now working from home looking for larger homes, adding that he expects the trend to continue into 2021

.


#26

So is the likes of the above to be a thing of the past?

The fact that his time on the train became an essential part of his work day just highlights the silliness involved in cases where it could be easily avoided by facilitation of WFH.

Will such people be willing to return to that nonsense post Covid? I doubt it.

In fairness his life would probably be pretty good in relative terms minus the few hours commute…


#27

I would be factoring in the Schooling from Home piece in your calculations.

There will be a lot of this into the future if this mandatory mask BS keeps up for minors in school.


#28

That’s bonkers! :frowning:

When I’m not working from home, I also reply to overnight email before reaching the lab or office. The difference is that I do it from my home desk in my dressing gown while I have my breakfast. If I am working from home, I sometimes go back to bed for a nap afterwards, before I start the rest of my work. :smiley: :sleeping:


#29

While the UK government tries to pander to its backers by encouraging companies to return to the “old ways” to maintain the high value of prime office space, Another company continues the trend to WFH.

Ironic when you consider they manage the congestion charge system, their move (and those of other companies) will really reduce congestion.


#30

WFH did not end well for me.
Week one I worked from spare bedroom.
Week two I worked from bed.
Week three boss fired me. Claimed I was sleeping on the job. I said no it’s a power nap. Boss said, no, you’re fired. End of.


#31

Lol
A few weeks ago I was on a webex meeting and one of the other people on the session accidentally left the camera on!
Lovely pyjamas :slight_smile:


#32

Did he catch you having a hand shandy??


#33

I’ve been working from bed for years.
I always make sure I’m clothed from the waist up for video conferences though.
I knock the camera off if I’m eating breakfast, or on the phone from the back garden having a smoke.
:icon_biggrin:


#34

I can’t see the whole working at home thing taking a long term hold. Employers have more control over their employees when they are at the workplace and in general most employees are less distracted when in the workplace and therefore more productive. Sure there are certain jobs suited to working remotely but in general employers get a better return for their money when employees are working in the workplace as opposed to working from home.


#35

Not really, what employers get is presenteeism, where the staff are there 9-5 that does not mean that they’re productive for the whole that they’re “owned” by the employer. There is a life-work balance that WFH greatly helps.

What I expect we’ll see is a future where many jobs will have a WFH element but with a percentage of “office time” to ensure the teams maintain their structure.

Employers will make huge savings on needing less office space for their entire staff, it may have a positive impact on event centres who would be hired for “all hands meetings” as the office space will not be able to hold 100% of staff for such meetings in the future.


#36

It’s up to the employer to make sure that employees are productive. It is a lot easier for the employer to monitor employees for productivity at the workplace rather than when an employee is working at home. Also most people’s homes are not set up for a work environment, they have no spare office at home where they can lock themselves away from all the distractions at home and focus on work. Cost of labor is a lot more than the cost of office space. If you save a bit of money on office space and you end up with a less productive workforce it could prove a lot more costly.


#37

Shhhh. Don’t be wrecking their buzz man


#38

A friend who supervises a tech support team, all WFH, got a call from a client who was concerned about their allocated IT guy. I don’t think he did anything bad or made a mistake-the client just thought he didn’t sound well compared to what they knew of him. It turns out he was sharing a bedroom with his brother within a houseshare and was trying to take calls, often from senior executives etc, while his sibling was snoring/making Guinness farts/whatever other disturbances you can think of…


#39

Yes, there’s no doubt that for some people WFH isn’t a realistic proposition, but for many, it is.
There is the middle ground that will suit many who have adverse WFH conditions, like the IT support guy and that is local remote working hubs in the nearest town. Commuting long distances to sit at a desk is a madness that hopefully will never return.


#40

He may soon no longer be forced to share a room with his brother …


#41

One thing I forgot to add is that there is no longer the feeling of guilt that one sometimes feels during “fallow” periods, that time between tasks when you don’t have time to start a long time consuming task such as on-line training or projects. Some managers expect you to be constantly working from clocking in to clocking out and complain if you’re seen not “working”.

At home, you can browse the web on your own personal device without having to keep an eye open for the boss!
In reality, all support type roles have periods between calls when you simply don’t have anything to do and can’t start something new as it will be interrupted.

This alone is a major reduction of workplace stress