Is there a future in the industry for me?
[deleted]
[{"id": "fr2h07a", "text": "Market declines do not mitigate the need for analysis.", "replies": [], "depth": 1}, {"id": "fr2v6qx", "text": "If you\u2019re looking to enter the space at this exact moment, yes, it might be somewhat challenging as many are taking a pause on hiring. If you\u2019re looking to enter in the next 6 months, the optimist in me says a wider assortment of jobs will be available once again. \n\nIn regards to your comments on retail, it\u2019s not going anywhere. Is retail changing? Yes. Is valuation of retail changing? Sure. Retail will live on though despite Covid and continued digital shopping trends. Look at what Amazon is doing. It will look different most likely and the tenants will change, but there will still be demand for retail. I have similar sentiment about office. Changing yes, but not going away. Commercial real estate will always be around.", "replies": [], "depth": 1}, {"id": "fr3d4fh", "text": "You've got alot to learn yung buck but that's okay. \n\nYour concerns have been voiced here a million times and in the marketplace a trillion. You can just research what people are saying pretty easily. Theres alot of good information around regarding both. \n\nFirst, office space isn't going anywhere. Anyone can tell you the trend in office real estate the past 3 or so years has been open concept, shared spaces, with a high focus on collaboration and \"communication\" amongst employees. In regards to covid, this trend may actually start to reverse as now that may not be the most sanitary and safest way to work.. kind of interesting to me, who'd of thunk it?! \n\nAs far as retail and online shopping this drum has been beat a million times. Sure, most retail in the 80s and 90s was over built e.g 100,000+ SF big boxes no longer need to be around but junior boxes are still popular amongst tenants. Online shopping is convenient but let's be honest, most people do not shop to shop, they shop for experience. That is retail in one word... experience. As long as people are still human, they're going to crave interaction with other people because we're social beings. This interaction takes place in retail landscape. Whilst sectors change and adaption will need to happen, the core sectors I do not ever see going by the way side. Not as long as we're relatively free and human.", "replies": [{"id": "fr5v7hm", "text": "In addition, you might just see the demand for office space move out of the major markets and into more suburban locations to help employees avoid mass transit. This is simply a blip (albeit larger than most) in the grand scheme of things, and the market will react and adapt.", "replies": [], "depth": 2}], "depth": 1}, {"id": "fr3qntr", "text": "Commercial real estate, like any market, moves in cycles. But what you need to remember is that the underlying assets, buildings, will ALWAYS be a necessity in our society and there will always be a market for them. You could have the same concerns you're voicing for many types of business, particularly anything markets-oriented.\n\nOffice space needs may decline because of this, but smart owners will adapt and make the investments necessary to make their offices THE offices. There is something to be said for the physical interaction that an office provides, and I don't think demand for office space will ever crash and burn the way some people are predicting. An obvious counterpoint is that the pandemic will likely actually increase demand for more square footage per employee.\n\nThe retail drum has been beat to death. People like to shop in physical stores and they always will. It's an enjoyable activity for a lot of people that can't be replicated online (yet, and likely never will be able to replicate the social aspect). There is an enormous oversupply of retail assets in NA and there will 100% be a culling of them, and soon, and also a necessary shift in the design and function of retail, but the asset class itself isn't going anywhere.\n\nTLDR - Now is a fine time to start in commercial real estate. In fact, you're likely to learn a lot more, faster by starting now and seeing how companies will manage the downturn when it happens.", "replies": [], "depth": 1}]