Relocation

Bay Area staffers move to less-costly locales to work remotely in pandemic, triggering cost-of-living salary reductions and stoking debate.

The coronavirus pandemic is reshaping spending patterns, creating new winners and losers.

“Is office space going the way of retail in five years? That’s what investors are really trying to understand,” said James Farrar, CEO of real estate investment trust City Office REIT. After a wave of office deals in downtown districts such as Manhattan, activity looks to be picking up again in the suburbs – at least in the short-term.