A report by the McKinsey Global Institute predicts that office occupancy in large urban centers will not return to pre-pandemic levels for decades. The report examined 17 “superstar” cities across six countries and found that the pandemic-induced shifts in work behavior, coupled with advancements in technology, have drastically changed how employees engage with their workspaces. This has led to reduced walking traffic for store fronts in urban centers, lending to a rise in online shopping. The firm modeled two scenarios for 2030: one moderate and one severe. In the moderate scenario, the median city will have 13% less demand for office space by 2030. The drop in demand climbs to as much as 38% in the severe scenario for some cities. This can lead to a drop in the total value of office space in large cities of between 26% from 2019 to 2030 in the moderate scenario, to a 42% drop in value in the severe one.