Analysis: US companies spend billions on stay-at-home tech, boding ill for office properties By Reuters – Investing.com

US reuters companies analysis
Middle East
  • Date: 02-Jul-2021
  • Source: Investing.com
  • Sector: Economy
  • Country: Middle East
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Analysis: US companies spend billions on stay-at-home tech, boding ill for office properties By Reuters – Investing.com

By Herbert Lash

NEW YORK (Reuters) - As the U.S. economy reopens, ramped-up corporate spending on video systems and plans to increase shared workspace suggests hybrid work is here to stay, potentially weighing on commercial property prices in New York, San Francisco and other major cities.

After jumping in the wake of the pandemic, sales of tech for facilitating remote work continues to trend higher. Retail sales of USB cameras and computer microphones rose 77% and 36% each from March to May from the same period last year, after doubling from those months in 2019, according to market research firm NPD Group.

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