Real Estate Crash thread

[californiagrown]

I do agree that on-boarding is more difficult with everyone being remote. I worked on-site for 5+ years before going remote.

Agreed. For employees who had been with our company for a few years (no matter where they were on the seniority chart) the transition to WFH was pretty seamless and we dont have any issues with them, the work they do, or their ability to hit career goals. No matter their role, or level. Where WFH becomes a lot more difficult is for greenhorns, whether its they are new to the company, or new to the industry. Its much more difficult to train and mentor and get people up to speed when they or their manager/lead is WFH. Traditionally most people spent the first couple years kind of spinning their wheels and not really "getting it" and then it clicks and they make rapid improvement from there on. We are seeing it take a lot longer for it to click for a lot of people who are WFH or hybrid.

[mcphee]

Agreed. For employees who had been with our company for a few years (no matter where they were on the seniority chart) the transition to WFH was pretty seamless and we dont have any issues with them, the work they do, or their ability to hit career goals. No matter their role, or level. Where WFH becomes a lot more difficult is for greenhorns, whether it’s they are new to the company, or new to the industry. It’s much more difficult to train and mentor and get people up to speed when they or their manager/lead is WFH. Traditionally most people spent the first couple years kind of spinning their wheels and not really "getting it" and then it clicks and they make rapid improvement from there on. We are seeing it take a lot longer for it to click for a lot of people who are WFH or hybrid.

sounds like a management problem. Instead of adapting to a new reality that’s popular and working for your employees, you complain that’s it’s not easy or familiar.

Same shit you tell us when things change.

[californiagrown]

sounds like a management problem. Instead of adapting to a new reality that’s popular and working for your employees,

Well, yeah its a management problem. Every problem is a management problem.

And the WFH/Hybrid schedule isnt really working for a bunch of our younger employees as they are falling behind their peers who are in-person and learning and growing in their careers at a much quicker pace. At least that is what i see and hear in my particular industry.

[J. Barron DeJong]

I’m in manufacturing, working on somewhat complicated equipment.

I used to design the equipment but haven’t been in that role for over a decade. Even though I used to design the stuff, every time I go back on site I’m learning something new from seeing the equipment/processes in person because it’s always evolving.

Could you get it all while not being on site? Sure. But it’s harder. And it’s especially hard for someone trying to come in with no familiarity at all.

And we’re a pretty successful company with a long history of having remote workers, not one that’s just starting to figure it all out.

[oldnew_guy]

Well, yeah its a management problem. Every problem is a management problem.

And the WFH/Hybrid schedule isnt really working for a bunch of our younger employees as they are falling behind their peers who are in-person and learning and growing in their careers at a much quicker pace. At least that is what i see and hear in my particular industry.

In my office, WFH hybrid is a privilege. If you aren't hitting your marks, its one of the first things to go.

Proximity bias is also real. Which is a management issue no matter what the level of the employee.

The beauty of hybrid is that the people that want to be in the office 5 days a week can do so. I haven't really seen an organization that has cracked the greenhorn/NG nut and how to get them up to speed. It sort of doesn't make sense to me, because what exactly is it that being in the office is offering? Lower friction walking across the cube farm hallway rather than a chat? Seems weird to me, but I'm not a person that learns by being talked at. It seems simple to me to look at the assigned work and just.....get it done. Office...coffee shop...beach...who cares?


I still think the current push for back in the office is related to commercial real estate and the desire to do a stealth lay off rather than an actual productivity thing.

[Meadow Skipper]

I fought wildfires in some pretty remote places…

Yeah, yeah, I know.

[oldnew_guy]

I fought wildfires in some pretty remote places…

Yeah, yeah, I know.

Can you imagine the benefit of being able to just have a remote Finance Section Chief and then just "lose the connection" .....

[Meadow Skipper]

Can you imagine the benefit of being able to just have a remote Finance Section Chief and then just "lose the connection" .....

LOL!

[goldenboy]

We've been waiting for the boomers to start downsizing for 10 years and we'll still be waiting another 10 at least.

They'll kick and fight and claw at anything not to downsize, they want to age in place. That doesn't mean they won't eventually die, just like we all will.

[Toadman]

I fought wildfires in some pretty remote places…

Yeah, yeah, I know.

I watched some of those fires burning from my home, so, I think it evens out in the end.

[skaredshtles]

They'll kick and fight and claw at anything not to downsize, they want to age in place. That doesn't mean they won't eventually die, just like we all will.

That's kinda weird, 'cause who wants to maintain a big-ass house when they're 80?

[J. Barron DeJong]

It sort of doesn't make sense to me, because what exactly is it that being in the office is offering?

For me, it’s not so much being able to interact with co-workers. It’s walking out on the shop floor and seeing what is being produced, prototyped, tested, etc.

We’re a pretty big company, so there’s always tons of stuff going on.

A manager will try and make sure you’re aware of the critical things, but there’s just a ton of interesting things happening continuously.

[Meadow Skipper]

Sort of related to the remote work discussion, this article made let know that I really am old.
What Gen Z wants in the workplace

“I would like to be able to afford some things, but I don’t want to be attached to the material grind,” said Griffon Hooper, a University of San Diego graduate who is working at a dive shop while applying for jobs in his chosen field: nautical archaeology. “I’m not interested in sacrificing 30 years of my life for a handshake and a golden watch. And I don’t think a lot of people are anymore.”

“What Gen Z wants is to do meaningful work with a sense of autonomy and flexibility and work-life balance and work with people who work collaboratively,” said Julie Lee, director of technology and mental health at Harvard Alumni for Mental Health, and an expert on Gen Z health and employment. Gen Z is less afraid to ask for the things that everyone else really wants and needs, which sometimes is stereotyped at work as being entitled and narcissistic.

I mean, I’d have liked those things too.

Would this go better in the old man yelling at clouds thread?

[Ted Striker]

When I was that age I just wanted my band to make it

[ötzi]

I pretty much just wanted to get laid.

[mcski]

Well, yeah its a management problem. Every problem is a management problem.

And the WFH/Hybrid schedule isnt really working for a bunch of our younger employees as they are falling behind their peers who are in-person and learning and growing in their careers at a much quicker pace. At least that is what i see and hear in my particular industry.

What industry are you in? With slack and all the other tools available now it doesn’t seem that is should be distaste. Especially with digital natives. I went work from home 25 years ago when I joined a huge company w a shit dsl line and it was not that big a deal. The only real challenge was getting FaceTime with political fucksticks that wanted to keep it old school and never left HQ

[Supermoon]

I pretty much just wanted to get laid.

It’s a lot easier to get laid when you don’t work 60 hours a week in a cubicle.

[yeahman]

because what exactly is it that being in the office is offering?

This is the crux of the matter that is still being figured out. In the case of new hires (< two years), I think there is naturally going to be a much greater reluctance to seek answers and help when doing so requires an email, or a phone call, or a chat-- especially with somebody you may have never even met. It's just much quicker and easier to poke your head in somebody's office or cube and ask-- somebody you know, somebody you might get coffee or a beer with. So as a result, lots of institutional knowledge is lost, and the cumulative effect of this only becomes apparent after a number of years. We're at that point now, it would seem, given that some of the most successful companies in America are making a push to bring people back in. I don't personally believe it has anything to do with commercial real estate. I do think these companies feel like they have a bit more leverage after recent layoffs.

[4matic]

Other than control and work force reduction I believe there are philosophical reasons. Look what remote work has done to sf and ny. Economic structures completely gutted; local money velocity gone. It may be the wrong ideal but I wouldn’t underestimate the macro reasoning. Mobility, even if it is forced, creates demand for services.

[nest]

God please make them go back

[Ted Striker]

I pretty much just wanted to get laid.

Well, that too.

[rideit]

I pretty much just wanted to get laid.

‘Wanting the band to make it’ is just code for ‘hotter sex with hotter women, free drugs, and better hotels’.

(See Nickelback)

[neufox47]

Just saw an ad from an old high school acquaintance advertising that her real estate company has partnered with a mortgage broker to allow you to put only 1% down as a first time home buyer. They will provide 2% as non repayable assistance (guessing any takers are getting hosed on the interest rate). Man if you can come up with 3% of a purchase price you shouldn’t be buying. I guess the end maybe near.


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[4matic]

Sounds like a commission discount scheme.

[ghosthop]

God please make them go back

That genie is never going back in the bottle.


We joked about buying a three bedroom for 760k on Wilson in 2016, a friend and I had the cash for a down payment. Should have done it.