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WFH has wiped out a third of all office real estate value in NYC, about $58 billion worth, according to a working paper from the Social Science Research Network. Coffee shop sales have topped off at about 75% of their pre-pandemic levels, according to new research from Bank of America. 2.5 years after the pandemic shut down offices nationwide, employees are still spending about a third of their paid work time at home, per the recent Survey of Working Arrangements and Attitudes.
