Francis Saele on LinkedIn: Will your training sessions in 2030 look like this? Perhaps, but let's… (2024)

Benjamin Bach, all Americans and Canadians must do what they can to stamp out growing antisemitism. Rabbi Sachs was correct. The only people who can do this are those living and active in the cultures that harbor it. That is you, me, and everyone we know in North America. Let's get going!

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David Frosh, CEO of Fidelity Bancorp Funding, said it best - “The numbers don’t add up anymore.”During the biggest apartmentconstruction boomin decades, a growing number of developers can’t make the numbers work to get started on their projects, or can’t get the money to complete them. Deals and financing have dried up.Higher interest rates, tighter lending conditions and flattening rents in parts of the country have left property companies from California to Florida waiting for financing that likely won't be there for them...for years perhaps.The amount of time the average apartment project spends between construction authorization and when construction begins has risen to nearly 500 days, a 45% increase from 2019.Developers also are launching fewer projects amid the financing crunch. Multifamily building starts fell to an annual rate of 322,000 units in April, the lowest April rate since 2020.See the graphic in the Comment Box below.

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New research from Nick Bloom's Stanford University team now confirm that super commutes - those of 75 miles or longer - are up by 33% since 2020? Are these people nuts?The good news is that these commutes are 1 to 3 days/week vs. 5. And in some cases, they are not full days. Presence in offices is relatively steady but frequently, is less than a full 8 hours allowing participants to arrive later or depart earlier missing rush hours.Research shows that younger employees and high earners—defined as those who make over $250,000—are choosing tolive farther awayfrom their offices.Between 2021 and 2023, the 56 major metro areas in the U.S. lost a net of 1.9 million people who moved elsewhere.This data suggests that people will select more value in housing and accept longer commutes provided the number of office days is limited.Over time, as organizations' office leases come up for renewal, they may move their office components closer to where employees live vs. to legacy office space in CBDs where no one wants to be any longer.

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Chicago's strategy to jumpstart downtown office occupancy - free coworking spaces to all. Read All About It....no paywall access for all with this link: https://lnkd.in/gvqRxcCvRecall yesterday, we learned that Chicago was floating a $1.5 Billion bond issue to boost downtown recovery. Presumably, part of it will fund what civic leaders are calling "Work from Summertime Chi."The free-to-all all spaces will be located at iconic locations including Navy Pier, the Museum of Contemporary Art, the Chicago Cultural Center, and other places. Presumably, this includes services goodies like free coffee and refreshments and who knows what else.Not sure how the other 279 Chicago coworking operations feel about this, but it might cause some leakage to the new freebee sites.Enjoy the article and let us all know what you think.

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The CRE financial tsunami is building but has still not hit home. Click this link to read the article without a paywall. https://lnkd.in/gMB5YM6MOne investor typically suffers in silence, namely public pension funds. However, the real losers are retired teachers, firefighters, and other public servants who depend on distributions from these funds to survive retirement.The article recounts several high-profile pension fund losses in both the USA and Canada. Some names include Calpers, Calstr's, CPPIB, and others.But the big bubble is in the US banks, this year alone with over $1 Trillion in maturing loans scheduled to rollover. These companies continue to enjoy regulatory abandonment and ongoing blend and pretend strategies that are kicking the refinance bubble down the road even further. Why this is happening and who is driving it remains a mystery.

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Use this link to bypass the Paywall for this article: https://lnkd.in/gTmXUprGThe 15-minute city is popular for convenience, lower emissions, and several other time-saving and lifestyle benefits. But are they economic?The answer is....it depends on the density of the space in question and the volume of users for that space. The higher the density, the more economic the larger users become. Unfortunately, most US cities are moderate to low densities.So what does this mean about 15-minute cities in this country. Bottom line, in cities like Boston, New York and LA, you can carve out potential 15-minute regions where most occupier needs would be satisfied. But go to Hayes, KS or Bayonne, NJ and there is no chance.Read the article and tell us what you think?

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If you can, please tune into a live discussion with Ram Srinivasan, the Oracle of Toronto and author of his just-released book, "The Conscious Machine: From Artificial to Enlightened Intelligence." See the link below for the podcast at Noon on Wednesday, June 5th.As JLL's Future of Work & AI Strategy leader in the Americas, you won't want to miss his message. From Ram's new book: "The future belongs to those who fully use technology and lead with humanity. Will you be among them?"If you have a question for Ram, send it to me and I'll try to ask it next Wednesday.

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Read the entire article and avoid the paywall with this link: https://lnkd.in/gJ6USp9UThe headline suggests that Chicago is offering subsidies to save it's downtown office district. The city will be floating a $1.25 Billion bond issue for economic development and affordable housing downtown. The city will provide $150 million to property developers to convert four buildings in the heart of the business district to more than 1,000 apartments, as long as about one-third are set aside as affordable units. While it's a good idea to bring housing to downtown, it's not going to keep office space alive.What the plans are for the balance of the bond issue is unknown. What we do know is that 3/4s of the mortgages backing its office space that were converted into securities are either in default or are at risk of default, the highest of any major metropolitan area in the nation.With no money to support capital improvements or new tenant fit-ups, "there are fewer landlords competing for tenants because so many buildings are in this zombie state,” saidMichael Reschke, a leading Chicago developer. Downtown Chicago continues to experience negative absorption of its office space, declining tax revenues, and declining rents. The seeds of a doom loop environment are in place. There is nothing on the horizon to suggest that demand for office space will turn around in the foreseeable future. In the absence of a turnaround in demand, all other actions are futile.

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Listen to Arthur C. Clarke's prediction 60 years ago. Thanks Nick Bloom for sharing.Nick's question is a good one. Where do you think knowledge work will be 60 years from today? Time to blue sky.

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