Why is JPMorgan calling all employees back to the office five days a week? Here's what they aren't telling employees:
JPMorgan has loaned $174 billion to commercial real estate (CRE). That's ~13% of total loans.
Meanwhile, the office sector has record-high vacancy rates. Rising interest rates have pushed CRE values down by 24% from their 2022 peaks.
Banks that made a lot of CRE loans need workers to commute to offices and spend money in business districts, or the landlords in these areas will default on their loans.
Why JPMorgan is calling employees back to the office 5 days a week
