Finance

Layoffs, imploding deals, and new opportunities. Here’s how the real-estate industry is transforming.

  • Offices, hotels, and malls have been emptied by the coronavirus, which could lead long-term disruption in our day-to-day lives. 
  • Flex-space providers like WeWork, Knotel, and Convene, rental startups like Sonder and Zeus Living, iBuyer Opendoor, and brokerages including Compass and Redfin have laid off or furloughed staff. 
  • The coronavirus has provided the largest experiment ever in remote work. Experts say it will forever change our relationship with the physical office.
  • Customer behaviors are also changing how we buy and order, and that could have long-term effects on areas like industrial real estate. 
  • Click here for more BI Prime stories.

The coronavirus has thrown the real-estate world into disarray, as people empty out of offices, hotels, and malls and work from their homes. The spread of the virus and the economic disruptions that have followed are transforming how people finance, operate, and occupy real estate. 

We’ve been tracking a slew of layoffs in the venture-backed real estate world, as empty short-term rentals and coworking spaces have hit once-buzzy industries hard. And we’re looking at at how big companies are rethinking office needs and the way big commercial real-estate deals are being impacted. 

We’re also keeping tabs on what experts are saying about the industry, and the future of offices as the virus has created the biggest experiment in remote work ever.

Have a tip about layoffs or major changes in this space? Contact this reporter through the secure messaging app Signal at +1 (646) 768-4772 using a non-work phone, email at anicoll@businessinsider.com, or Twitter DM at @AlexONicoll. You can also contact Business Insider securely via SecureDrop.

Here’s everything we know right now: 

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Popular

To Top