The Downtown Doom Loop

After COVID, average downtown office occupancy is under 50 percent and about 25 percent for San Francisco and Washington DC. Within a city, the second tier Class B offices spaces are especially empty. Therefore, you have no people. And thus the small amount of retail that exists in these office areas is dying: the retail space on the ground floor is a nice feature, but the offices above are supposed to make the money.

Still, there's a strong push to 'return back to normal' & fill-up these offices. Or, do we need to accept the 'New Normal' and do something different?