WBAP Radio recently asked Richard Stockton to come on the air 🎙 in Dallas, TX to discuss the remote work boom that defined the pandemic, and its impact on the real estate sector. Richard is a commercial real estate expert, Senior Managing Director of Ashford Inc, and fund manager for the Texas Strategic Growth Fund. Rick Roberts at WBAP asked him if the boom in remote work had any impact on the housing market, to which Richard responded that the impact was positive in the housing market, seeing as people wanted more space and home offices. In contrast, the impact on the office sector has been negative, with the sector experiencing a 25% drop in values since the pre-pandemic period. Moreover, the value erosion in the commercial real estate sector has forced companies to offer remote work due to fear of losing young employees to competitors. Richard emphasized that the value shift was more between different types of real estate than the general erosion of real estate value.

Richard was then asked if remote work had influenced real estate values, to which he noted that the influence of remote work has to be measured in various components, given that real estate is a multi-trillion-dollar asset class that spans retail, industrial, residential, and office spaces. He further added that although the impact of remote work is difficult to pinpoint, because of its many components, technology advancements have made it a stickier trend that has made corporations require their employees to come back on a hybrid schedule for three days and remote work for two days.

In conclusion, Richard's interview noted that the impact of remote work in the real estate sector has mostly been positive for the housing market but negative for the office sector.

✔ Talk Radio WBAP Social Media
➤ https://www.wbap.com
➤ https://www.facebook.com/NewsTalk820WBAP