Why JPMorgan is calling employees back to the office 5 days a week

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.