Working From Home Is an American Phenomenon: Sternlicht

The transcript discusses the ongoing debate between remote work and returning to the office, highlighting that the work-from-home trend is primarily a US phenomenon. In contrast, office occupancy rates in Europe, the Middle East, and Asia remain high. The US office market is experiencing a bifurcation, with high-quality buildings remaining leased while lower-quality spaces face challenges. Commuting difficulties in cities like New York and LA contribute to resistance against returning to offices. However, a potential recession and corporate policies, such as Amazon's, may drive employees back. AI is expected to influence office space demand in certain industries.

What predictions are made about the future of office buildings and their occupancy rates?

In what ways might a recession impact the return of employees to the office?