One Implication of Hybrid Work

Long commutes are more tolerable if workers don't have to go into the office frequently--that statement is obvious, but it seems that everyone hasn't fully grasped the implications.

(Image from Forbes)

Headline: America’s Commute to Work Is Getting Longer and Longer

Big shifts in the way people live and work are making commutes of over an hour into the office more common—and even more palatable. Rising housing costs have prompted many to move farther away from city centers, while the staying power of hybrid work means they don’t have to drive into work every day.

The share of super commutes—those 75 miles or longer—have grown the most and are up by nearly a third since 2020, according to new research from Stanford University.

Cities can invest in mass transit, police, and other services, but their downtowns will never come back completely because of the adoption of hybrid work. A few, like San Francisco and Las Vegas, may make up for the losses in foot traffic by boosting their tourist and convention business, but not everyone is a destination city.

Meanwhile, investing in developable land even farther from urban centers has a greater chance of paying off.

Allocate your real estate dollars accordingly.