Struggles in Commercial Real Estate: Office Space Vacancies Rise.

Commercial real estate, particularly the office sector, is grappling with increasing vacancy rates as companies continue to embrace hybrid and remote work models. Major cities like San Francisco, New York, and Chicago are witnessing a surge in unoccupied office spaces, pushing landlords to offer incentives and lower rents. This shift is reshaping urban landscapes, with some buildings being repurposed for residential use. However, the future of office space remains uncertain, with experts predicting a prolonged period of adjustment.