Three years into the COVID-19 pandemic, companies and individuals are reassessing previously held beliefs and rethinking long-held ideas, including about how and where people work. The changing nature of work has already impacted office real estate globally, and recent facts and events suggest that for office workers, the nature of the “office” is still fundamentally being rethought. In the U.S., a majority of workers continue to prefer remote work, even as employers try to get employees back into the office more frequently. Beyond commercial real estate firms, which are increasingly dealing with delinquent loans, the changed work routines have negatively impacted cities and the retailers and restaurants that depend on office workers. Despite being three years into it, we are still in the early stages of this restructuring.