Talk of the office and its pandemic-powered apocalypse might have died down, but the sector’s troubles haven’t. If anything, four years after the pandemic’s onset, office vacancies are growing.
In the second quarter of this year, “the office sector set a record vacancy rate at 20.1%, breaking the 20% barrier for the first time in history,” a Moody’s analysis published today read. “The slow bleed occurring in the office sector has led to a steady rise in the vacancy rate as permanent shifts in working behavior have outlasted the initial wave of the pandemic four years ago.”
