80% of bosses say they regret earlier return-to-office plans: ‘A lot of executives have egg on their faces’::As some business leaders accept hybrid work as a permanent reality, others are backtracking on earlier pledges to let employees work from home.
So what we’re seeing here is a situation where 80% of bosses fucked their businesses up by falling victim to an economic reasoning fallacy they teach you about in Econ 101?
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Plenty of business owners in the US are invested in commercial real estate, so an undercurrent at least in the US is that a lot of people with decision making authority over this kind of thing personally stand to lose money if the value of commercial real estate falls.
It seems a bit off and corrupt from a business standpoint to deliberately mismanage your business in hopes of limiting personal losses from investments in other industries, but most of how business works in America seems off and corrupt to me.
I bought my current house, 5 years ago, in a MA town a little closer to Providence than Boston (but still rather convenient for both cities).
My real estate agent called me yesterday out of the blue to see if we were considering any moves. We’re not, because we refi’d a couple years ago at a great rate, and even moving into a similar value house now would mean a significant increase in our mortgage.
I’m sure she’s heard that same story a lot of times. Nobody wants to sell because they then have to buy, and we’ve all got great rates from a couple years ago.