NYC skyscrapers sit vacant
Neckties were an essential business requirement for ages.  At some point, people had had enough of the mostly pointless ritual and began rejecting the norm.  Even still, stodgy companies required it with the argument that it was necessary for being considered professional.Startups certainly saw differently, although admittedly many startups are not remotely professional (no pun intended).Now we have remote work vs office work.  In an information age where physical items passed around from worker to worker are a thing of the past in most industries, the need to spend $$$ for a high profile location is going the way of the necktie.Many workers have tasted the freedom of no commute, or at least a pleasant walk/bike commute to a nearby coworking space.  They don't want to go back, and like myself they will reject any job which has a firm requirement for such.  Companies are torn between the old-school management notion that worker will only work while being observed and the realization that they can save a ton of money by not having a big fancy office.The day of the office is passing.  There will always be offices, but they will be, like food trucks, existing where and when they are useful.  The real estate world better clue into this.And beyond the office topic there is the residential topic.  As prices for city apartments increase dramatically, people lose interest in living in those cities.  Better to live someplace pleasant and less expensive, and then spend the saved money on trips to many different nice places.