Are we on the cusp of an exodus?

19 Feb

Do we really need the 700 units recently built or permitted, let alone tripling Royal Crest's size?

MASSACHUSETTS — Global Workplace Analytics, a San Diego-based consulting company, predicts between 25 and 30 percent of people will work from home two or more days per week by the end of 2021, up from just 3.6 percent before the coronavirus pandemic started.

That could be bad news for Massachusetts, where white collar workers are increasingly thinking about leaving behind the state's high income tax rates and skyrocketing housing prices now that they no longer have to commute to the office.

At the same time, Massachusetts-based companies are rethinking how much office space they need, potentially upending the state's commercial real estate market. In December, a Massachusetts Competitive Partnership survey showed 28 percent of the state's companies were considering moving jobs out of Massachusetts. A separate December survey showed 38 percent of companies considering selling off real estate in Massachusetts.